Mid-Morning ES Price Action Chart 03-15-2022
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The trend and bias are up this morning, and prices may be attempting a measured move higher. If the cyan channel is valid, it would seem a bit difficult to reach a measured move target any time soon. While the trend line is obviously in play, it is always possible that the upper side of the channel is much higher. The channel looks valid as drawn, but keep in mind that it is always possible the trend channel line is much higher than how I have it draw for now. We will need more price action to prove it out.
Regardless of the cyan channel, the trend and bias are up for now, so think accordingly. Things could change at any minute, but if we look at the daily chart, prices did bounce off the lows of a measured move based on the pink range height, so that indicates for now that the range is still play, even if only temporarily, so the upward move is confirmed by the daily chart as well.
Comments
Buddy March 15, 2022 at
Hey Mack, just FYI – for the last two chart lessons I’ve noticed your close time is set to 2pm, not 2:30. Guessing it probably reverted back to your previously saved time when you loaded the new contract
Mack March 16, 2022 at
Thanks for the heads up. I think it did that last time we rolled over. I will check it and try and fix the issue.