Sunday 24 November 2013

ES breaks the 1800 level

I am late posting this.  But better late than never.  The 1800 level was broken on Friday, as I had predicted the day before.  Price opened and pushed down into a great demand zone, before rallying all day, into the new all time high.

There was a great long entry around 15:30 GMT (10:30 EST) after price had broken above the opening 5 min range with a CCH bar, forming a demand zone.  After this, the up move was painfully slow on low volume.

I said on Friday to buy the open and to sell if we saw a very large volume 1 min bar.  The only large volume 1 min bar was at the close, but that does not signal a reverse.

We will eventually get a large shakeout, but I really do not have a clue when that will be.  Keep a lookout for some sort of buying climax, or large volume at unusual time of the day.  So keep buying until we see this.

Here are the charts:








No comments:

Post a Comment