Hello everyone, I'd like to share with this weeks ES trading levels.
ES is trending down since a couple of weeks now. Thats why we expect lower prices until we see new HHs and LLs. Sentiment stays bearish until we break the 4405.75 level and close above.
As you can see, price is ranging between the levels 4405.75 and 4355.25. We anticipate another test of the 4355.25 area.
If the bears stays strong this week and the price breaks the 4355.25 level into the next value area, there is a lot of room to the downside. Target would be at around 4138.50.
Please let me know your thoughs and if you like the idea.
ES is trending down since a couple of weeks now. Thats why we expect lower prices until we see new HHs and LLs. Sentiment stays bearish until we break the 4405.75 level and close above.
As you can see, price is ranging between the levels 4405.75 and 4355.25. We anticipate another test of the 4355.25 area.
If the bears stays strong this week and the price breaks the 4355.25 level into the next value area, there is a lot of room to the downside. Target would be at around 4138.50.
Please let me know your thoughs and if you like the idea.
Trade closed: target reached:
Didn't expect that price will go higher than 4446.50. Could be due to earnings week. But after price broke the 4446.50 resistance it suddenly began to melt all the way down to our expected level (almost accurate, only 3 ticks).