Big breakout on news of trade easing for 90 days give traders more impetus to trade the current rally into prior resistance
MARKET TEMPERAMENT –
Big gap up on news- markets are fading into the support zones below. First pass bounces are likely to bring new buyers in for the time being but watch for lower highs to appear. If this occurs, we’ll have ourselves a backdrop for a bigger fade during the day. All our formations remain positive, but with less strength than in times past. Key level of support in ES_F to hold is 2786.5. Fade to support is in progress and likely after large bounces and gaps. We will remain engaged in a large relief bounce within a much larger bearish motion. Watch your edges!
How about finally starting that trading journal?
You should – Here’s an easy way to keep track of your progress