ES Magnet prices 5/8/2019
Magnets are easy today but profits may not be...I'm using 2865, 2875.75, 2888 - 2891 ( this 3 point range is the critical line I think for bulls to take over to have a chance today). As usual we want to treat the overnight session as a range unto itself meaning that if we have a target above an overnight high then we want price to break out of the overnight high on good volume and good high $ticks and then monitor for continuation to try to hold for the upper target - reverse the concept for short trades.
as long as our 2875 number can hold price back now then we should try for the pivot and the 91 area....but if our 75 number gets retested and crumbles then obviously we want to try to get down to the S1 and yesterdays low....clipping the overnight low on the way
thanks for the good words too ...sharks...hope all is well
No problem Bruce, always value your analysis...