Todays Bull/Bear area is 13.5-15.5. If ES holds above here then ES could potentially breakout of the smaller 4 day balance it has been in and head to 25.25-27.25. This has already been tested in globex however so we will need a good setup in real time here. Above here we have 34-36 and 49.5-51.5. Both of which id expect responsive selling.
If ES can go below the bull bear area and go back into the range we have 00.75-02.75 and 94.25-96.25 both of which could see buyers on first test. then finally we have 80-82 which could cap selling. However we must be cautious if ES does get to here as this has been tested multiple times and a break below here would see bears in complete control down to 69-67
Happy Trading.
Can you do this with Monthly charts?
ReplyDeleteThe levels i use personally are derived from both intraday and bigger time frame charts. So 'this' is not simply from singular intraday profiles. It brings together the wider context, Hope this helps.
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