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    MarcinO
    Rep: 67
    Posts: 5,506
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    On the way to 40s area, there is also substantial resistance around 2020.
    It includes two sublevels: 22-24 and 13-14, below which ES finished Friday.

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    es 2016 03 13 png
    JI
    jimkane
    Rep: 3,058
    Posts: 33,089
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    Time to bust out to the upside?
    JI
    jimkane
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    Or will it be just another sweep? I think the odds favor it starts to move.
    MA
    MarcinO
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    2002 may stop it.
    JI
    jimkane
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    'Backtest' the breakout now?
    JI
    jimkane
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    Okay, it's back, let's see.
    MA
    MarcinO
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    And it's broken.
    JI
    jimkane
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    Right here is the spot.
    MA
    MarcinO
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    97?
    Originally posted by jimkane

    Right here is the spot.
    JI
    jimkane
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    So, was this just another mindless sweep in a go nowhere game?
    JI
    jimkane
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    98.125 is the 50% IB and the lowest level of the breakout price flow. If this was a shakeout backtest that's all it can do. But, that's not to say it can't pullback deeper and then go up, it just won't be a backtest lined up with the 50% IB.


    Originally posted by MarcinO

    97?
    Originally posted by jimkane

    Right here is the spot.

    RA
    rat89
    Rep: 0
    Posts: 7,015
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    add modified schiff set - solo and on prior chart in aqua

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    screen shot 2016 03 19 at 6 37 37 pm png

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    screen shot 2016 03 19 at 6 34 58 pm png