ES Price to Big Confluence looking to re commit.

S&P 500 E-mini Futures (CME_MINI:ES1!)

Updated

CME_MINI:ES1! S&P 500 E-mini Futures

beyondta es

Price is up to a big confluence that had the gravity to get it here. It's up to the Chartmojo Unwound Neutral Cloud, The space between 50% range and avwap. Also there is a big resistance trendline wth a volume shelf just above and poc just below. There are traders on each of those components and additional confluence players involved. That means more traders, targets, orders, exits, entries, stops etc. there. I will box in the consolidation on say a 30 minute chart and let traders probe up down looking for the weak side to push into. Breakout players will be lining up orders outside the box looking for the break. I will imagine different scenarios and take the one that confirms. (B.Kovner) It was a great move off the low to neutral unwound. I'll look for ticks and top 10 in es to lead the break from the box. Influencers know this is a good spot to drop new info to influence the direction out of this zone so I'll be listening to fin. news. Thesis: Price moves from confluence to confluence in waves and patterns, (force). 50% range, vwap is a neutral apex, a balance point and traders hone in on them. Helps to understand how to play a breakout and make sure its not a trap. I'll scalp es urges repeatedly and hopefully leave half in if in my direction w adaptable trailing stops if it runs. The longer price sits in the consolidation the more a volatility squeeze will build. Observe, adapt, evolve, survive. Awarenes, not interpretation. Alertness keeps thinking at bay and the cognitive biases. If x occurs do x1, if y occurs do y1. The only way around the zillion cognitive biases that plague traders.

Comment:

iniitial approach rejected, long seller off the low slip out

Comment:

long sellers off the low lock in, slip out at least partial positions and look for the recommit direction

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good boy rejected on first approach at 4 point confluence

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how it looked on 30 min

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liking it ..weekly chart..getting past those prior lows..it gets past that next one, could get frisky

Comment:

weekly support taken out nicely...nice confluence rejection

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