The Emini S&P (ESH12) has made a Bullish Breakout on the Quarterly Profile by establishing a candle body close above the midpoint between MR1 and MR2 which has a price of 1328.00. This piece of information tells us that the ESH12 will take one more leg to the upside before this current uptrend will be over. Whether or not if makes new highs is another question, but it will make one more leg so look to buy the first retrace on the Daily Candles chart.
Now keep in mind this is more of medium term strategy as it will take some time for ESH12 to retrace on Daily chart and the size of the retrace will be descent roughly around 40 points possibly to put things in to perspective.
So if you see ESH12 getting support above 1285.75, and then this market makes new highs on Daily chart, start looking for buys. I will be sending out a follow up blog at the time, but i think it is important for traders to know ahead of time what to look for or expect. So i try to pass the information to the traders that is being derived by the Zone-Trader Philosophy as soon as it occurs.
There is a major support at 1296.25 which is the Bottom of the Persistence Zone on the Monthly Profile. Currently the Bulls are in control of ESH12 on the Monthly Profile and buyers will start coming into the market when prices approach this price level because the Bulls will want to try to maintain control.
Here is screenshot of the Quarterly Profile displaying the Bullish Breakout.
Now the Bulls have put their footprint on the market with the Bullish Breakout on the Quarterly Profile. We should now see a reduction in buying volume and an increase in selling volume, since the Bulls have accomplished their challenge in order to maintain the current uptrend within this Quarter.
Look to play sell signals on short-to-medium term charts, 30 minute to 5 hour chart time frames. Expect a push towards 1296.25 then start putting on the brakes and re-assess for support and possible reversal.
BONUS! Send email to derivativeconcpetsinc@gmail.com to receive 1 week free trial to live trading room, where Emini S&P is actively traded on a daily basis.
Now keep in mind this is more of medium term strategy as it will take some time for ESH12 to retrace on Daily chart and the size of the retrace will be descent roughly around 40 points possibly to put things in to perspective.
So if you see ESH12 getting support above 1285.75, and then this market makes new highs on Daily chart, start looking for buys. I will be sending out a follow up blog at the time, but i think it is important for traders to know ahead of time what to look for or expect. So i try to pass the information to the traders that is being derived by the Zone-Trader Philosophy as soon as it occurs.
There is a major support at 1296.25 which is the Bottom of the Persistence Zone on the Monthly Profile. Currently the Bulls are in control of ESH12 on the Monthly Profile and buyers will start coming into the market when prices approach this price level because the Bulls will want to try to maintain control.
Here is screenshot of the Quarterly Profile displaying the Bullish Breakout.
Now the Bulls have put their footprint on the market with the Bullish Breakout on the Quarterly Profile. We should now see a reduction in buying volume and an increase in selling volume, since the Bulls have accomplished their challenge in order to maintain the current uptrend within this Quarter.
Look to play sell signals on short-to-medium term charts, 30 minute to 5 hour chart time frames. Expect a push towards 1296.25 then start putting on the brakes and re-assess for support and possible reversal.
BONUS! Send email to derivativeconcpetsinc@gmail.com to receive 1 week free trial to live trading room, where Emini S&P is actively traded on a daily basis.
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