Update Ca$h Close: rather uneventful close. Intermediate term trend is still up. Will have to keep an eye on 825 and 813 ambush zones for further direction. Thanks for visiting, daily update to follow soon.
Update 3:44pm EST: break above 820 would mean retest of highs is likely. Last 15 minute whipsaw is also in play, be careful.
Update 3:35 pm EST: 818.25 tested in high tick, will be watching this level closely for further direction. Remember its only 25 minutes to go till cash close. 2500t trend is now green for 4 bars, the rest of trends are still pointing down or mixed.
Update 3:26pm EST: Euro and ES have both found support in their daily long ambush zones, watching 818.5 ambush from highs on ES emini and 1.3262 on the euro for further direction.
Update 3:15pm EST: 818.5 is key ambush short from the highs.
Update 3:07pm EST: ES emini traded well into that 50% daily ambush zone, but not violated yet, also put in low $TICK of the day as minor warning sign. All trends are pointing down at the moment.
Update 3pm EST: bonds are closed. last hour madness is here. Good luck, and be safe. 819.5 is first high probability short entry. Breakout out of 813.75 -819.5 will determine if we are more likely to retest the highs or the lows.
Update 2:55 pm EST: ES @ critical 813.75 daily 50% retacement
Update 2:54 pm EST: Euro testing 1.3225 daily 50%, if that level fails it likely heads to retest 1.31 lows
Update 2:47pm EST: here are levels to watch. 820.5 on the upside, with possible backtest of channel or highs if 820.5 doesn’t hold. 813.75 daily 50% on the downside, below 811 there is not much to stop this from heading to retest overnight lows.
levelstowatch
Update 2:30pm EST: 820.50 is a minor ambush short if 815.75 low holds, will be watching break of that for possible reversal to the upside. 813.75 is still a critical downside support.
Update 2:05 pm EST; 818.25 AL tested with Low tick of the day, if that doesnt hold expecting to re-test 813.75 daily 50%
Euro just plowed through the ambush on FOMC announcement, next significant support at 1.3226 or 50% from overnight lows
Update 2:00 pm EST: Channel Broke, watching 818.25 on the downside and major AL at 813.75, careful trading FOMC minutes
Update 1:52pm EST: Euro 50% retracement of daily rally at 1.3259
Update 1:50pm EST: WARNING! FOMC minuets in 10 minutes!
Update 1:38pm EST: current ES emini channel to watch for more clues
echannel
if channel fails, there is long ambush at 818 and major downside target/support 813.75 from globex lows.
Update 1:00pm EST: new high $tick of the day at the tag of 825 retracement line, pretty powerful warning of short term top. if that top doesnt hold no real reason not to retest the recent trading hours highs, see few charts below for H&S target
Update 12:15am EST: retest of the highs failed for now. Stuck in 812.25 -821.75 range for now, with break above meaning a likely trip to 825 ambush test of globex highs and then completion of H&s pattern with target of Friday’s highs. Failed test of 812 makes it a confirmed daily double top with target of globex lows of 802.25.
Update 12:05 am EST: as Euro continues to rally first minor resistance is expected at 1.3313, and major ambush level/ previous support at 1.3364
euro13364
Update11:57am EST: Looks like we are forming Inverse H&S on ES emini with target of exactly trading hours only highs of the rally 842.25, if it does break the neckline
headandshoulder
Update 11:54 am est: After trading down to 812 ambush long from overnight lows ES found support confirmed by low $tick of the day and is not back into 817 abush zone to retest the recent highs. Next significant level above the ambush zone is still 825
Euro broke above the daily high, on more significant break watch for 1.3364 to be major resistance level.
Update 10:20 am EST: wild trading continues, another 10 pt swing. Looking at 812 ambush long from overnight lows for further direction, also watching $Tick for clues. Break Below this ambush zone make retest of globex lows and 800 likely.
Update 10:06 am eST: Euro has found some resistance at previously mentioned 1.3772 level, 1.3210 should be first support level on the way down, if that ambush level is violated, then retest of daily and then monthly low.
Update 10:02 am EST: 2500t chart trend turned red, ES found resistance at 61% line of previously mentioned ambush, 100k, 60m trends are still green. Considering current high hold 812 is ambush from overnight lows.
Update 9:46am EST: As expected ES is staying strong and has just violated 61% line of 817.5-821.25 ambush zone with next highest probability resistance at 825 (see screenshot below)
Euro bounced at 1.3272 for about 30 pips and seems to resume higher, is that ambush zone is broken, it might be wise to wait for 1.3364, highest probability short entry I see atm.
Update 9:30am EST Open: be careful trading the open as always, 10:00am is Uptick rule meeting. GoodLuck Today.
Update 8:49 am EST: On euro if 1.3272 doesnt hold next key level is 1.335, on ES after 817.75 it’s 825, those are just key high probability bounce areas on the upside, not a suggestion this will roll over just yet, today could turn into uptick rule short squeeze short covering frenzy. No particular reason to sell the longs just yet though.
Update 8:27am EST: first key resistance level to watch on the euro is 1.3272
ecmorning_001
Good Morning Traders,
Looks like quiet a reversal overnight, leverl to watch for resistance on the upsideon ES emini are 817.75 and then 825 as major ambush short from highs.
esresistance
Good luck and good trading to all
Vlad