We have:
Counting 0 to 5 and we had a DT on point count 4. Now we wait for the 5 o a new low below the count 3
The orange A/R catches a lot of extremes, including the count 4 DT.
The red down-sloping pitchfork could give support on the U-MLH.
The pullback from 3 to 4 is EXACTLY 61.80% !
Guys & Gals, there is too much confluence IMO not to imagine that the ES1! will not make a new P5 Low.
This is ultra short to me, but of course, in these crazy markets only a proper stop can save us from a desaster. So use stops!
I'm short and I take my profit an P5 below P 3 if possible.
Counting 0 to 5 and we had a DT on point count 4. Now we wait for the 5 o a new low below the count 3
The orange A/R catches a lot of extremes, including the count 4 DT.
The red down-sloping pitchfork could give support on the U-MLH.
The pullback from 3 to 4 is EXACTLY 61.80% !
Guys & Gals, there is too much confluence IMO not to imagine that the ES1! will not make a new P5 Low.
This is ultra short to me, but of course, in these crazy markets only a proper stop can save us from a desaster. So use stops!
I'm short and I take my profit an P5 below P 3 if possible.
Note
Touchdown at the upper medianline parallel.Now it's decision time.
Because we ran up that much, and came down again, I don't expect this support to hold once more. So my bias is to the downside.
Let's find out and lets let it create a nice entry for us if you are not already short.
Patience is key.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.