ES 15min. with some A/R & Lines

28 oct. 2016

A/R & Forks catching the price action even on the 15' charts.
Let's observe together what happens at the lines.

28 oct. 2016

Note

We can see, that price was not crushing through the A/R line.
Just knocked at it 3 times now. Does this mean: Resistance - Short it! ...?
Nope!

It says, that there are potentially sellers, or the buyers are not willing anymore to bid it up. But that is just for now. Shorting this line would be just a 50/50 bet.
...we can do better....observe...

28 oct. 2016

Note

Now we see the market above the A/R line.
Glad we did not short it ;-)

And here's another information we now have.
The market paused, what created a kind of a center.
If we think, this could be a center, then how about a mesured move:



OK - With momentum to the upside, I would be a buyer at the new identified potential center, with a stop a couple ticks below the center and the target up at the centerline. Lets see if the trading gods will give us a entry...

28 oct. 2016

Note

Potential Trade I would consider: