December 3rd - The 45 Min Structure Shift
ES tried to break out yesterday… and the market flat-out rejected it.
Yesterday at 8:30AM, ES was sitting inside a contracting wedge.
Lower highs.
Higher lows.
Pressure building.
Classic coil behavior.
Today at 8:30AM, that same structure has morphed into an ascending triangle.
Take a look.
That’s the entire story right now.
The lower trendline is steeper. Buyers keep showing up higher.
The upper shelf at 6852 has been tested to the max.
That’s your hinge.
The shelf isn’t breaking… but it’s thinning
Momentum pushes yesterday stopped breaking 40 on the RSI.
Not once all day.
That hasn’t happened in this coil.
When a wedge turns into an ascending triangle, it’s the market telling you the pressure is shifting.
Sellers are still defending the same level… but buyers are getting more aggressive underneath.
Doesn’t guarantee anything.
Doesn’t change the trade locations.
Doesn’t change the fact we’re still in a technical daily downtrend….
But it does tell you who’s pressing and who’s reacting.
This is why I’m staying patient.
The high reward:risk isn’t inside this.
Cheers,
-PriceTrader
P.S.
For new subscribers, you can access the ESDaily Gameplan and see exactly how I’m thinking through this transition from the Thanksgiving rally to where we are now.
Inside the Gameplan, the Opportunities section lays out the highest reward:risk setups on the tape.
Then we scale to eliminate risk as quickly as possible...
Would love to have you join me.
Here’s your link for 50% off.
https://www.esdaily.com/a84ce9c4
Ends Saturday.