Mack’s Mid-Morning ES Price Action Chart 10-23-2023
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After selling off during the overnight session, prices are rallying with momentum as I am typing. It looks like a possible spike and channel up, and I am just guesstimating the upper side of the channel at this point in time. It looks valid, but you never know with rallies like this, as that upper trend channel line could be higher than how I currently have it marked, so just be aware of that fact.
This could end up a range day, but for now, the trend and bias are up. Just be careful getting long into the overnight highs as prices approach them. This day could still go a few different ways, although we are bouncing out of oversold territory again as I am typing. Mixed trading is very possible no matter how the day plays out, so keep that in mind.
Stay patient and be disciplined while following the price action. If you make smart trading decisions, you will usually stay out of serious trouble while finding the correct entry points.
