ES did exactly as planned. It came to the 240min/D level of confluence around 4031 and reached target as it bounced lower from the level of supply that was displayed on yesterdays analysis "ES on a WEDNESDAY." Witness how the 4120.50 (orange line) mentioned on a previous post underwent polarity (a level of previous support turned to resistance) which made it my Target for my long this morning. A newly 240min short term level of demand has been developed and it is sitting around 4058. I will use this as my short term entry for another day or swing trade. The previous level of supply around 4122 has been hit, hinting that it might not hold next time price comes to it. The better supply level is now around 4155. I will utilize this as my Target but if it gets there before my demand is triggered then I will use it as a short. Long term I am still extremely bullish , the primary trend is still up! Market conditions can change but one must trade with the primary trend until the weight of the evidence is proven otherwise. Keep in mind that trends persist until they reverse and they reverse on levels of supply and demand even more so when they are in sync with other enhancers like confluences, levels are even stronger with such enhancers. I will be waiting with open arms for that 3967 daily level of confluence. PAY-TIENCE! For now I will play the short term trades. #TTP #TrustTheProcess
Trade closed: target reached:
Target reached for short. Long trade has been activated with T1 at 4134.50
Trade active:
LONG is ACTIVE
Comment:
T1 Reach. T2 Reached. One more runner letting it run to 4200 (T3)