Mack’s Mid-Morning ES Price Action Chart 10-25-2023
- Home / Non Member Articles (Free) / Mack’s Mid-Morning ES Price Action Chart 10-25-2023
While prices have gone flat and sideways over the last 30 minutes or so, the trend and bias are down as of now. Prices are once again well into oversold territory, so they could bounce at any time. For now, the trend and bias are down though, just be careful and do not get short right into the lows or force bad entries, as you could get quick corrections that are strong but short lived. Be patient and disciplined and wait on good with trend setups until something changes or the price action tells you otherwise.
I made some updates to the daily chart, most importantly, the larger downward blue channel. It’s difficult to say if there is convincing close outside on the third touch, but I’m playing like it’s drawn for now. You could draw the channel a bit steeper, and you would have a close above the trendline on that 3rd touch with the large bearish bar. We will have to wait for more price action to know for certain.
