ES Hourly
Price fallen back into Descending Broadening Wedge (blue trendlines) after having broken out. If support at 750 holds, ES should break out of wedge again and aim for 800. What I'm feeling is that it will be a lot more assuring if it goes down to test 739.75 first. That should happen if it's stopped by resistance at 760.
ES 10min
Suport at 750, Resistance at 760. Looks likely to me that a Wash and Rinse pattern could develope from here. Which means ES should test 750 after going up to 760. Confirmation of pattern is the breaking above of 760. Using Fib ext (not shown here), target of 161.8% is around 779. Makes sense. Am definitely looking forward to a miracle that will push ES right through 800.
ES 3min
Price rejecting 750 for now. Looks like 760 will be the highest it's going before the start of the US trading hours. That's also the pivot for now, and less than 1 point below yesterday's low. Which should make it tough to pierce.
Price fallen back into Descending Broadening Wedge (blue trendlines) after having broken out. If support at 750 holds, ES should break out of wedge again and aim for 800. What I'm feeling is that it will be a lot more assuring if it goes down to test 739.75 first. That should happen if it's stopped by resistance at 760.
Suport at 750, Resistance at 760. Looks likely to me that a Wash and Rinse pattern could develope from here. Which means ES should test 750 after going up to 760. Confirmation of pattern is the breaking above of 760. Using Fib ext (not shown here), target of 161.8% is around 779. Makes sense. Am definitely looking forward to a miracle that will push ES right through 800.
Price rejecting 750 for now. Looks like 760 will be the highest it's going before the start of the US trading hours. That's also the pivot for now, and less than 1 point below yesterday's low. Which should make it tough to pierce.Game Plan & Rules
I'm going to take a shot at holding my scalps longer once I'm in profit. WILL give trades 10 mins to work. If it doesn't, I exit, no matter what. If it works out, will give it another 20 - 30 mins to let profits run.
In the absence of an apparently great setup, I'll do my usual: scalp. A 2-point loss is the maximum that I'll take if momentum turns against me once I enter.
Will mainly be shorting at resistance, and buying at support. Entering only when price has closed on the desired side. Whenever the subsequent close is on the wrong side, I'm out.
As usual, I'm not looking to buy an upward breakout. Exception is if I had sold short at resistance, and price broke above it instead. 2 closes above is a must for me to go long in this case. A bullish pattern like a tight flag would give me no reason at all to avoid taking such a trade.
In the absence of an apparently great setup, I'll do my usual: scalp. A 2-point loss is the maximum that I'll take if momentum turns against me once I enter.
Will mainly be shorting at resistance, and buying at support. Entering only when price has closed on the desired side. Whenever the subsequent close is on the wrong side, I'm out.
As usual, I'm not looking to buy an upward breakout. Exception is if I had sold short at resistance, and price broke above it instead. 2 closes above is a must for me to go long in this case. A bullish pattern like a tight flag would give me no reason at all to avoid taking such a trade.
2 comments:
"The other thing that I really, really, really want, is for all the living things I love to be cloned." LOL! :) That made me laugh...reminds me of when I told my girlfriend that meeting her was like "a thousand christmases rolled into one"...don't know why but thought I'd share that!
You're a lucky man, MM :-)
For D, meeting me was definitely like a thousand Halloweens rolled into one! LOL!
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