A SCREAMING TRADE MEANS TAKE IT!

[07:08] <Chartmaster> gm all  daily ranges updated  http://evestnews.blogspot.com    today's flavor:  watch for a nice run as if some new "news" is going to be released, only to reverse trapping the bandwagon traders


By 7:30 AM the market had tested the long target and failed.  We had a flip and the EMA was acting as resistance.  Price pushed back to the Middle BOT, and by b1 we see a push down for a four point run from the 7:30 high.   B2 and 3 failed at the EMA, and B 4 drew in new shorts as it pushed toward the short target.


TODAY:  THE ES


Sometimes a trade screams at the trader.  How many clues do you need? 

1. We have price trapping between the mid range and the EMA.
2. The 50% area of the control bar is at the Mid BOT, and we had no 5tf
3. By b5 we have a flip.

Any long entry in this area was correct, and certainly at the long BOT as price moved into the Upper Trading Range (UTR).

click to enlarge

STRONG CHANNELS:  strong channels result in longer holding periods.  While it may be difficult for traders to enter after a strong move without any touches/moves to the EMA, the PB to the TL without a break can offer opportunities.    The Bull channel completes with a MAXT, and develops into a Bear Channel,  with a short opportunity at the EMA flip and upper TL.  Again, another trade screaming.  The bear ends with another EMA flip.

Another push up for a higher top, but a return to a bear trend with some 50% trade setups, flips, and a TL short.