Morning Update: Now short 7 contracts at an average of 3975.25
Aggiornato
This morning the active continuous ES contract reached a high of 3982.75 as of this update. I posted to last night's updated where I added 3 additional contracts at 3981 this morning bringing my average to 3975.25 on 7 ESZ22 contracts. With Trading View's charts now featuring the ESH23 contract much of what I write here may not match up to the chart.
The pattern could still be a wave 4 as price has not overlapped wave 1. However, this movement upward from 3914 yesterday is starting to look like it’s our "b" wave retracement. However our “b” of still the “a” wave. You’ll notice in the chart above I am now labeling our wave a as having subdivided to where the decline I am anticipating today will be the start of our “c” to conclude our larger a wave decline of this abc.
I am obviously positioned for downside...and as of right now this chart looks poised to me to reconcile lower...and the an equally probable outcome of reconciling A LOT LOWER 3810. A couple days ago I mentioned to would buy the next low in size...then during the day started a short position. Being that it is looking more and more likely this is still the "a" wave...I will observe the decline rather than outright buy. BE CAREFUL BUYING IF TODAY SHAPES UP TO BE A DECLINE AS I AM LOOKING FOR.
Any activity or update to trading will be done here on this post. CHECK BACK THROUGHOUT THE DAY OR KEEP THIS POST UP ON YOUR SCREEN IF INTERESTED.
Best to all,
Chris
The pattern could still be a wave 4 as price has not overlapped wave 1. However, this movement upward from 3914 yesterday is starting to look like it’s our "b" wave retracement. However our “b” of still the “a” wave. You’ll notice in the chart above I am now labeling our wave a as having subdivided to where the decline I am anticipating today will be the start of our “c” to conclude our larger a wave decline of this abc.
I am obviously positioned for downside...and as of right now this chart looks poised to me to reconcile lower...and the an equally probable outcome of reconciling A LOT LOWER 3810. A couple days ago I mentioned to would buy the next low in size...then during the day started a short position. Being that it is looking more and more likely this is still the "a" wave...I will observe the decline rather than outright buy. BE CAREFUL BUYING IF TODAY SHAPES UP TO BE A DECLINE AS I AM LOOKING FOR.
Any activity or update to trading will be done here on this post. CHECK BACK THROUGHOUT THE DAY OR KEEP THIS POST UP ON YOUR SCREEN IF INTERESTED.
Best to all,
Chris
Trade attivo
“Trust in the force Luke” Darth Vader
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