updated: The lower channel broke town for an extended test of support (which for now is holding). The anticipation at this point is for higher prices to be sold until a higher low or momentum divergence is established (looking for a 4d-4c continuation short setup from here) unless we get a V-bottom.
Potential 2b short setup on the ES. Keeping in mind that this is a 240-minute chart.
This 2b setup is also recognizable as 3-pushes to a high where we have 3 higher highs on waning momentum. Watch for a breakdown of the lower channel line for confirmation, but if the upper channel is broken with a higher momentum reading then up we go. Will update this chart as we progress.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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