ESM2015 trade ideas
Between pivots and flags!Hello guys!! Hope you are having a good day!
Im here to give you a update on SP futures. Sunday the Fed announced a $700b buy on treasuries and mortgages bonds and lowered the interest rate to 0%. But markets are always wise, and know that such stimulli wont solve the problem.
So, we are waiting for a h1 close below 2380. This enables the targets of a bearish flag that were drawn on chart. Besides this flag, we have a 100% projection of a pivot (~2300), that I published an idea last week (It worths to look if you haven`t because this idea went quite on mark!!). ~Coincidently~ this level was the bottom on December`s 2018 dump, so I think this zone should be tested for sure!
Well, if 2300 wont hold us, than things will get scary. Because 2300 represents a 100% retracement of the last impulse upwards, and the previous impulse was the bull run started on 2009. So the retracements of this whole wave will be lower levels, like 2000 or maybe sub 2000. So better watch out for 2300, ok ?!
And how about a sudden recovery from Mr. Market? Alright, we will need at least a pivot (not another bearish one, LUL) on H1 and than we could think about it. And ma200, a good indicator of stronger trends, is still pointing down. So until 2750 being conquered, my thoughts would be consistently downwards. I guess that on the middle on the path, there will be a lot of this kind of bull traps, like bear flags and such, so be careful with long positions.
Feel free to comment, make questions and hit the thumbs up as well!! Stay in peace my fellows!
SPX futures - Collective H-L of Piercing Pattern important Collective High-Low important for follow through / invalidation.
$SPX - Rising Trendline Broken. $ES. Not only the rising Trendline that's broken but also the price action indicates weakness.
The first black candle could not be covered on retracement and now #ES is checking with the Lows.
Chances are it can break down to 3130-3070 zone.
Elliot Wave 4 pullback on ES 1 hour chartWave four pullback started on ES 1 hour chart using the W5T Elliot Wave indicator. Red zones are weekly gaps and blue zones are daily gaps.
ES - HnS in Making - How to tradeGood time to start shorting or can wait for confirmation to break neck line.
I m taking some shorts in ES
ES-Right at the EdgeES is right at the edge of a composite profile. good probability to hold this here and rotate back, to test the other end.
ES larger Timeframe resistance areasES has a larger time frame resistance band at 2515-30 areas, worth looking for a failure candle and a reversal trade to test back the 2480 regions.
ES- Break Below trendline lowES broke below the trend lines lows- holding below the zone of 2680 areas it seems to be headed for 2450 zones on the downside
S&P 500 E-MINI FUTURES: Still no signs of exhaustionOn Daily, 4 Hour, 2 hour, all timeframes, E-mini doesnt seem to have exhausted at all.
Close below 2662 can be the first sign of exhaustion...
