vyas2468

ES Update breaks 2nd MM 61.8%

CME_MINI:ES1!   S&P 500 E-mini Futures
From my last post, I mentioned a break of the second measured move's half way back will result in a price move up toward the full half-way back. Although we haven't reached there yet, if price does go there, we can consider taking short positions. However, one would need confirmation short before any entries, from the lower time-frames. At this stage we have had a no trade situation because no confirmation has been given. If however, price breaks past 61.8% of the full half-way-back, then we must consider long positions only once there is confirmation.
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