ES Thursday October 19th Market Open Buy Set Up 175 Point Target

15 oct. 2023

I am expecting the market to hit the gap resistance one final time before the big crack through blowing through for a massive short squeeze. Thursday the 19th, right at 09:30am market open for the rip.

Probably the safest entry point is on the falling wedge with the bull 180 engulfment, closing back inside of the 21ema.

Target is just shy of the other prior gap resistance with the thick black line up ahead

I am expecting this trade to go to target in roughly 6-8 days for around 160-200 points depending on how I get in the trade and where.

Stop will go under at around 4350 area for a 25 point stop

25 point risk
175 point target

7:1 ratio

$100 risk for $700 reward on 1 MES

16 oct. 2023

Note

Price is acting exactly like it is supposed to. It went up to hit for the fourth time and is now in the process of forming the falling wedge to possibly fill that gap before Thursday short squeeze

16 oct. 2023

Note

I am basing my analysis on the same pattern as back in March

16 oct. 2023

Note