This famous historical battle is being fought at the 18-day SMA on the ES daily chart below. The snapshot was clicked about 9:30 am - just a few moments ago. It's hard to get closer than that.
So far, the correct answer to the question of, "will the up (green) fractal or down (red) fractal be broken first?" is, well, neither. Reminder: Globex only has a partial day today.
Have an excellent start to the day,
TraderJoe
Thanks Tj. I see a 7520 print overnight in es.
ReplyDeleteI am counting the 7520.50 low in the September ES Futures as a possible X wave in what may become a "Double Three" correction.
DeleteSeems like we are making a triangle
ReplyDeleteTj i am struggling with markets making low on 3 waves and we think its a flat but then it turns out to be not the case. Same thing last night low was on 3 waves and since that point market kept on going up. Your thoughts please are we missing some wave labeling that has manifested in recent years. https://www.tradingview.com/x/z1ILIFMN/
ReplyDeleteJack, you are struggling because 1) you are trying to use a 1 min timeframe. That is fraught with small gaps and pull-backs hard to read. I recommend you use nothing less than 5 min, but preferably 15-min if at all possible. 2) Thus, you are 'not' looking at the overall picture, like "which wave is the extended wave in the sequence". You are not looking at which waves have the largest retraces - which must be the 2's and 4's. 3) You still refuse to plot your indicator like EWO, AO or MACD. You just doing what "Jack" does and not following the procedure.
DeleteI traded this wave nicely last night and saw nothing wrong with it. Look what your 1 min wave looks like on the 15-min chart.
https://www.tradingview.com/x/7z590Rzp/
P.S. Hint: I won't be answering another 1-min question like this.
TJ