The ESH13 provided us with another classic textbook Zone-Trader Philosophy trade today, which is currently positive 5 points and holding. The trade setup on the Weekly Profile which utilizes a 144 minute candle to assess price action within the Zone-Trader Philosophy pricing map. The ESH13 was already above the top of the Persistence Zone which fell at 1508.50 telling us that the bulls were in control of the market on the week. Then this market made a Bullish Breakout yesterday with a candle body close above the midpoint between MR1 and MR2 telling us to buy the 1st retrace. This signal created alignment between our control bias as derived from the Zone-Trader Rules, and our Control Bias which is derived from the Persistence Zone. The alignment of the 2 increases the probability of winning dramatically. The first retrace pushed lower to the 1510.00 price area and approached MS1 on the Weekly Profile which provided support and created the reversal back to the upside. With the close of the Green colored candle above the Zone-Trader Pivot the buy was generated at market, since this info told us that the bears failed to make a bearish breakout and by closing above the ZT Pivot the bulls would now take their shot or attempt at making a bullish breakout. The market order 1514.25 and then the ESH13 proceeded to trade higher in price as was expected and predicted by Zone-Trader Philosophy and its ability to capture the underlying psychology of the market. Currently the ESH13 is trading at 1519.50 and about an hour ago the time filter held above the top of the PZ on the daily profile so the bulls have taken control of the market on the day as well now.
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