Roughly ten 4h candles till FOMC announcement @ 2pm on Wed.
ES currently at 5209 and pushing up towards a pending bear cycle on 4h interim and macro.
Interim r1 @ 5217, macro r1 @ 5231 and r2 @ 5243. Uncertain how high es pushes before the 4h gets actual bear x on either the dmi or the hma however the dmi definitely showing contraction, with next cycle also pending bear.
On the right 1d showing confluence with pending bear rotation, interim r1 5231, r2 @ 5236 and macro s1 @ 5196 and s2 @ 5097 and dmi showing same contraction and also pending bear.
1d buy / sell boxes noted on 4h chart, as well as the wkly and the monthly also charted in the event of significant range expansion over the course of the week.
Might feel daunting that price continues to push higher despite pending rotation to be bear but we anticipate the move without a bias and trade with confirmation.
Watch for weakness north of r1 5217/ r2 5231 or r3 5243 and potential demand inside the 1d or the wkly box downside.
No reprieve on hh's and hl's despite waning buy pressure, and pending bear rotation across multiple Indies, ahead of FOMC should signal alarm for potential reaction day of announcement.
Appreciate the risk.
ES currently at 5209 and pushing up towards a pending bear cycle on 4h interim and macro.
Interim r1 @ 5217, macro r1 @ 5231 and r2 @ 5243. Uncertain how high es pushes before the 4h gets actual bear x on either the dmi or the hma however the dmi definitely showing contraction, with next cycle also pending bear.
On the right 1d showing confluence with pending bear rotation, interim r1 5231, r2 @ 5236 and macro s1 @ 5196 and s2 @ 5097 and dmi showing same contraction and also pending bear.
1d buy / sell boxes noted on 4h chart, as well as the wkly and the monthly also charted in the event of significant range expansion over the course of the week.
Might feel daunting that price continues to push higher despite pending rotation to be bear but we anticipate the move without a bias and trade with confirmation.
Watch for weakness north of r1 5217/ r2 5231 or r3 5243 and potential demand inside the 1d or the wkly box downside.
No reprieve on hh's and hl's despite waning buy pressure, and pending bear rotation across multiple Indies, ahead of FOMC should signal alarm for potential reaction day of announcement.
Appreciate the risk.
price will need to sustain north of 5242 to flip pending bear rotation on 4h macro.
if so, wkly range could push to 5285, if not 5311 with minor extension.
if not, 4h macro will seek demand sub 5200's , if not 5130's.
4940's well within monthly range.
lock in profits.