ES micro trading 03-21-22
Well I have been expecting a cycle high today for a week now. It appears to be developing.I went long a small long scalp however at 4416 and got out at 4427. Still expecting more downside tho.
Just tried to sell 4435 25,but missed it by 2ticks! See the red avg?That's why.
You can't see it on the chart but 4406 area looks like the next fib level.
When it hit 4435 for the second time I took it.Now short from there. Since the 4441-2 level is possible ,I put my stop at 4443
Stopped out ,still up for the day...barely
15 min look shows the red avg below the black which shows the intraday trend is down.
Well, a somewhat confusing day today.The15 min chart shows the avgs about to turn positive! Tomorrow is going to be a real battle! The consolidation due to the cycle is good for bulls cause it's near the high. However the longer term charts are positive but weakening.