S&P 500 futures /ES on think or swim
We are currently in a consolidation possible flag pattern.. We are in the middle of value area.. I never trade inside value area. I Trade the out liners. Value area high or value area low.. We are currently over sold on the weekly chart and at middle on the daily chart (VALUE AREA IS THE GRAY BOX).. pretty much a toss up. 50/50.. Below are the possibilities to wait for: SELL value area high after 5 min chart conformation.. or BUY value area low after 5 min chart conformation.. because we are in the middle of value area look for new trend: up or down .. Because we are in the middle of value area no Fibonacci was used . Instead I will be using Value area box, trend lines, support and resistance. So Below we have the trade plan : The gray box is value area.. As of now we are in the middle.. if the chart hits V.A.H.(2438.79) wait for 2-5 min candle chart conformation and sell (red line). Take profit at 2435.31-2431.75 .. If chart hits V.A.L. (2428.42)wait for 2-5 min candle confirmation to buy and take profit at 2431.67-2435 ** if we break v.a.l. or v.a.h. then look for the re-touch to sell or buy on the Blue lines.. That scenario will be drawn in.. Zoom in view below it.
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Broke value area high then came back down to hit vah to the TICK .time to buy take profits @ 2441 and above .. Don't get greedy !! .. IF YOU DON'T WANT TO MISS FUTURE ANALYSIS FOLLOW ME !!
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