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6E broke broke higher in the London session but quickly came off the highs and is returning to yesterday's range. I am expecting more chop again today and will be looking at the test of 1.1373 above and the test of 1.1330 below to give us a bounce.
Can you help answer these questions from other members on NexusFi?
ES made new highs yesterday on light volume. It sold off with some strength and is continuing that this morning. This morning I will be stalking 2110.50 to 2111.50 area for a short. Downside targets will be 2106.5 and 2092.5.
The ES stopped one time framing up yesterday and tested both the levels I outlined yesterday. It closed as a balanced profile. The overnight auction lacked direction and it looks like we will be opening in range. Today I am expecting a test of the 2109.25-2111 area. If sellers step in there, I will be looking for further range extension down to 2093.50, 2092.5 and 2085.
2111 held once again on Friday and the market sold off from there. This morning I will be looking for a short around 2103 targeting 2093.50. If 2103 does not hold, I am expecting 2111 to be broken because that means the micro composite range bottom has held.
I am seeing the importance of scaling in as it reaches my levels of interest so I am switching back to the M6E because my account cannot support scaling in the ES.
The ES put in a strong low last week at 2065.50. That move has found continuation last night and I would not expect to see a reversal attempt until 2050. I will be looking for a rotation up to 2069.25 to sell targeting 2050 this morning.
