ES Z0 daily chart with possible objectives


Here is the daily Z0 ES chart with the S/R bands, 1153.50, 1117.00. My plan for the rest of this week and next week is:

If the ES was to move and close above 1153.50 on a daily basis, then I plan to trade towards: 1163.50 and 1176.00 as objectives.

If the ES was to move and close on a daily basis below 1117.00, then I plan to trade towards: 1093, 1080.00 and possibly lower for a test of 1x1 tds line as the objective.

Will see, in due time the market will show us the way.

I see for you the same I see for my self: Having the best of luck and most profitable trading adventure!

Click image for original size
es daily 100910 mp forum
The ES traded as high as 1165 and now is below the "clone (A) resistance trend line) as seeing in the daily chart below.
Yesterday Oct. 11 was the end of a Fibonacci time cluster, if you look at the chart, the ES so far made a high on that day at 1165.00. 1165.00 is just 2 ticks above the weekly 78% ret. @ 1163.25
Today 10/12 the ES failed to move above 1165.00 and it is now below the daily resistance trend line, clone (A). A sell signal was giving this morning at 1163.25 with protective stop at 1165.25. NOw the stop is at B.E.
The possible objective is the Daily support trend line (A), keep in mind that, as the days go by, the price on that support line is moving up. The other Fibonacci levels seeing in the chart are for day trading and use as possible intraday support resistance, in conjunction with the pivot #s of the day.

If the ES was to move above 1165.00, it will void the above.
as always, the market has the last word and in due time will show us the way. Past performance is never a guaranty to obtain the same future results.

I see for you the same I see for my self: Having the very best of luck and most profitable trading adventure!
Click image for original size
es daily 101110 mp forum