Hi traders,
here are two charts that may help you – if you trade the ES and if you do longer timeframe trades – as we head into the holiday season. Our 89R charts shows the events of the past six months or so, and the possible path going forward. Last Friday's energetic bounce points to a target in the 2150 area - if the 2080 holds in the next few days, that is.
ES 89R 2015 12 04
Looking at the short side, our smaller, 21R chart shows the three unfilled gaps below us (which, as we know, tend to get filled sooner or later, one way or the other). But first, let's see if we can hit 2110 on Monday.
Remember, wherever the market goes, our job is to go with it, while keeping our risk under control.
Mindful trading and a wonderful holiday season to you all!
Ferenc