ZenTradingbySabrina

ZenTradingbySabrina

Since Nov 10th bull breakout, we have been in a broad bull channel for almost a month. It is the end of the year. The market is again at a critical price. It has broken out of this year's bearish trendline (red line), but got strong rejection from it once because of Friday's nonfarm payroll data. Since Friday's rejection of lower price was so strong, I am...

ZenTradingbySabrina

After a Thanksgiving week, the bulls have to take some profit. The support is 3920, 3870. If I don't see volume increase, and market broken down below 3920, it is reasonable to expect the market go back to the previous trading range 3800+/- 50 pts. Maybe we'll end this year just in the range? Strong resistance above 4000. Sep 13 2022 big bear bar still in the way...

ZenTradingbySabrina

The market popped after Thursday's CPI report. It has BO of 3925 resistance, and heading to the next levels: 4080 and 4135 As showed on the chart, the bearish trend line has been effective from the beginning of this year. As the market approaching it, 1) As a bull, the overall momentum is on our side. However, there are LOTS of uncertainty ahead. Buy the dips...

ZenTradingbySabrina

It reached my previous target of 3923, the start of last bear spike from 9/20/2022. The daily has completely above the EMA, but weekly chart has just touched EMA. It shows the market's hesitation. The past 4 days have been a trading range, but most of the momentum is up. Market broke 3820 resistance, only tried once to go down. So has to be mindful for...

ZenTradingbySabrina

ES filled the gap at 3843. It tried to go up to the next level but failed. 3843acted as an important price level for 2 days. Today after failed attempts to maintain above it, the market pulled back, hit it, and turned down. The market is getting closed to the lower edge of the channel (or a wedge, depending on how you view it) not a good place to short but overall...

ZenTradingbySabrina

After several days of struggle at the end of September, the bears got an excellent chance to cover at a great price on October 13. 2 more attempts to push the market down but failed. There is not much profit left to initial short. It seems the market has formed a head-and-shoulder bottom. Next target for bulls is the gap at 3846. Next one is 3923, the start of...

ZenTradingbySabrina

The ES has been in a trading range for the week. We went up from the low of 4100, a spike and channel pattern. Looks like the market will go up first before the drop if it ever drops again. Connect the two lows (Jan 24 and Feb 24), we can see the Feb 24 low is higher than the downward channel, more likely a wedge. So if the market did drop to 4000, my theory is...

ZenTradingbySabrina

ES has less volume for the past 3 days

ZenTradingbySabrina

I am looking at Fib extension level 1 around 3990-4000. the downtrend has its 1st leg down, now the second leg started and may have at least 2 sub legs down. 4000 also a daily gap that never got filled. Level 1.618 and 2 are also interesting levels. If the market did go to level 3, I will be all in, which I do not believe will happen this year unless...!