Mack’s Mid-Morning ES Price Action Chart 02-20-2024
- Home / Non Member Articles (Free) / Mack’s Mid-Morning ES Price Action Chart 02-20-2024
The trend and bias are both down this morning. There is a larger spike and channel down and the channel is still in play for now. That does not mean this market will not have mixed trading or even a rally before the day is over. We have seen that happen over and over recently, however, the difference is we have a high in place with a lower high, so another leg down at a minimum is very possible.
Regardless of how the day plays out, the trend and bias are down right now. Just follow the price action and let it show you what it plans to do.
Comments
Scott February 20, 2024 at
@Mack Thanks again for this. I notice my major trend channel is a bit different. Why did you start it where you did? I see this major trend going back to mid-day Fri. Is it a case whereby you felt the trend better setup early morning based on this? When intraday trading, do you try to always keep your trends within the day?
Scott February 20, 2024 at
Moved Q to forum/Trendlines.
Mack February 20, 2024 at
It’s what I call a spike and channel. Prices spike down or up strongly, then go into a channel.