ES Potential 22 Continuation up
Price is extended above the 6m/Q/M and price story .50 and retested the yearly BF
Price closed with a candle body over the yearly .50 retest. Very good sign this price action will expand through the price story and start a new one. However, although we got the close above the yearly .50 on the weekly, we still closed inside the weekly BF. So we will likely pullback first.
Price prediction for this week
- See video on how to play ES this week. Ill also explain in the video why I've add no new weekly BF.
- We using 2 pivots this week to gauge price direction. Monthly trigger $4142.50 & Yearly BF $4108
- Price starting to build over the monthly trigger, a solid retest and hold would likely push price to monthly targets
- Ive also noticed on the daily time frame $4113.75 price close either at or above this level, no matter if it wicked below it. So price has shown us, this must be an important pivot as well.
- PRICE TARGETS
- $4144.00 weekly .50 or Monthly Trigger holds then upside $4155.25, $4175.00, and $4208.50
- $4144.00 fails the down side targets
- $4133.25 Weekly .618
- $4113.75 last week pivot price wouldn't close below
- $4108 Yearly BF
Be patient, price has been ranging so its not as clean as it would be in the past. But if you stick to these minor targets until we break you should make money or sit on your hands.
PRICE STORY
What to expect?
- Price flirting with the top of the price story box as it did in that past consolidation. Since we got the close over the monthly trigger, we will look for price to break over that 4175 but a close over it would be very nice.
- Lets dive into the price story via video
