ES Breakout Target 4515 Accelerated Measured Move

Friday is the temporary bottom. Price was forming a nice up trend over the next couple of days. Price broke out of the top of the channel and is now on an accelerating channel.

My target is half way between 1 and 1.5 times range expansion just shy of the stop losses of the bears.

I am Long at 4475
Stop 4463.50
Target 4512.00

Comment:

Comment:

The 15 minute chart

I am in this trade in the anticipation of a breakout

Comment:

The new accelerated trend channel is in line with the rising 200sma

Long Bias

Comment:

So far, so good. Cracked 75 as I am writing this price is now 4478.50

Can the momentum continue? I am betting on it. I am only worried about being up 0.60% only being 4 hours in the day. There is still 20 More hours to go.

Trade closed manually:

I closed the trade for a scratch due to the daily 21ema right there as resistance. I now switched short back to 4450 to fill the gap

Comment:

I am not sure now it is stuck inside an asymmetrical triangle. I will stand aside for now