Hello everyone we have completed our move and the dedicated fiber optic line is finally installed, sorry for the delay. I will resume with more active blogging of analysis and actually trade entries for several markets. Thanks for your patience.
The Emini SP has made a bullish breakout on the yearly profile, and it is currently attempting to hold the time filter above the top of the persistence zone which will put the bulls in control of the market on the year. Look to buy the 1st retrace on this profile which is analyzed by applying weekly candles. Look for support around 1296.00 to 1267.00 area.
The ESM12 on the Yearly Profile has continued to trend higher into the old persistence zone identified by the red horizontal lines, which is from 2008 that is when the bears took control of the market and we all know what happened after that. This price range is a key area for the ES is has hit the midpoint now at 1392.00 and the further it move into this zone the more resistance we should see come into the market. The top of the 2008 PZ in red is at 1443.75 this will be a major resistance for the ES.
The ZoneTrader Philosophy Persistence Zone Theory suggest that the bottom is in on the ES as the 2011 PZ was higher then the 2010 and now the 2012 PZ is higher then the 2011 which suggested more bullish movement throughout this year. You can analyze this by looking at the shift in the 2 orange lines on the screenshot. You can see in 2011 the PZ was higher then 2010 confirming the bottom and suggesting to buy all pullbacks within that price range. Then the ES sold off in 2011 only to get stopped dead in its tracks at the midpoint of the 2011 Persistence Zone. The ES has been in a strong uptrend ever since.
The Emini SP has made a bullish breakout on the yearly profile, and it is currently attempting to hold the time filter above the top of the persistence zone which will put the bulls in control of the market on the year. Look to buy the 1st retrace on this profile which is analyzed by applying weekly candles. Look for support around 1296.00 to 1267.00 area.
The ESM12 on the Yearly Profile has continued to trend higher into the old persistence zone identified by the red horizontal lines, which is from 2008 that is when the bears took control of the market and we all know what happened after that. This price range is a key area for the ES is has hit the midpoint now at 1392.00 and the further it move into this zone the more resistance we should see come into the market. The top of the 2008 PZ in red is at 1443.75 this will be a major resistance for the ES.
No comments:
Post a Comment