ES grinds during President's Day pushing into upper range.
6136 Triggered Long, T1 hit. Can it follow through?
As noted, ES has done the same thing 3 weeks in a row. We gapped down into high time frame support, reclaimed, and rallied to the top of the range, to sell Friday and gap down Sunday.
But Friday, there was no selloff, and Sunday evening there was no gap down to refill…
Instead, we opened flat and continued grinding, testing the upper range of this 6150, 6020 bull flag…
Let’s see what happens this week
On a light volume trading day, it’s critical to stick to the plan, hold runners, and only enter at pre-defined entry points.
After continuing to hold the 6054 runner from last week, I wasn’t interested in much. But I did find an early opportunity. Again, sticking to the rules…
We did just that today.
At 7:50AM we noted 6135 was a support I’d be interested in taking.
I was filled just above at 6136.50 and waited as price slowing moved back up to the upper range and hit 6145.
In building a futher long, we now are carrying this position as well into RTH tomorrow.
In future newsletters, we’ll talk about the LTB trade that triggered me long and discuss new level’s we’ll be looking at.
These are some of the things we can expect to know about before hand upon the inagural issuance of ES Daily.
Be sure to sign up :-)