With ATR on Friday being close to a low, and with fridays candle being an inside candle, I am going to place a bracket trade 3 ticks on either side of the high and low of Fridays candle. At the same time I am anticipating the ATR to expand.
Harmonic pattern setup providing a possible short entry on the E-mini. Butterfly harmonic. Watch for bearish candles signaling start of downturn & entry point. Target(s) at 38.2, 50 and 61.8 retrace of CD. Stop above D at your defined risk level.
Despite covering our NQ position we will hold on to the ES for a our second target. We still like the 2120 area. Stops have been pulled tighter just in case this move becomes a head fake. Lesson: manage your trades and don't let a winner turn into a loser!
ES is still looking good. We have not changed anything with our stops. If we see a good move to the downside we will adjust stops but we are still looking for the 2120 area for the next target.
This market is getting ready to move and we will be watching for a close above 4275 to get long. Stay tuned. Watch more details: youtu.be
A close above 2060 and we will be looking for buy triggers on a lower time frame. See our weekly outlook: youtu.be
The NQ is getting close to firing off a long trade. We want to see a break and close above 4275 before we establish a position. This goes on the watch list. Watch more on our Weekly Video Update: youtu.be
OK...GC has given us a nice winner and true to our plan we will cover everything except one contract! (see past posts) This trade is a big winner for us and we would like to keep riding the move but with the ECB announcement tomorrow it's a flip of the coin. We could hedge with options but we choose to cover and leave one 'risk' contract to see if the...
V's are in for the season. As we said on the $ES chart...the $NQ is in full buy mode. We are looking at a test of the highs and then possibly the 4400 area. Keep it on your watch list.
SANTA IS BACK!!! All indices are in BUY mode. We are aggressively looking for buy opportunities on the $NQ, $TF ($RJ), $ES. We would like a pullback to the shaded zone but looking at past rally's that may happen. Any buy triggers on shorter time frames will be bought. For the emini S&P we will be targeting the 2100 area for the first area to peel some profits.
The sisters ($TF and $NQ) didn't play along and we busted through 2 levels of support. Is this the top for the year? Hard to tell since we can run through the highs in a couple days. Looking at the weekly and monthly chart we would say there is more upside to come. So enjoy the pullback. We will look to short (very small size) on bounces and triggers. ...
While the Nasdaq and Russell are lagging the S&P are still making new high. If the sisters decide to join in then we could see 2100 before the end of the year. It's well in range.
S&P500 This Week Perspective This week should be the turning point on weekly chart and price should start falling off the high next week. Are we talking about the odds here, the import point I want to stress on here is the weekly high 2044 must be respected. Any breakout of this high will turn S&P 500 into bullish mode again 2064, 2070, and 2099 are possible...
This mini is in need of a pullback but with every hint there's a rally. Friday produced and nice reversal candle on a Daily basis and we passed on the signal. When the algo buying starts you can get trapped quickly. Watch the price ladder...when pullbacks are shallow and aggressively bought be rest assured the algos are in charge. Either get on board with them...
S&P500 Forecast-ed Move for this week. ES 12-14 reached 2030 completing the forecast-ed move published at beginning of the week. There is good probability for the market to reach the second boundary 2048-50 today or early next week. So sell stop loss can be moved now below 2028-30 level until the next target is reached either today or next week. For the short...
This is why we don't blindly step in front of a trade. SEE our last ES post. We pick areas and watch. We also said that if we traded through area #2 we could keep going...well? No need to be a hero and try to catch tops and bottoms. Find areas on higher time frames...wait for price to come to you and then use smaller time frames to trigger the trade. Keep...