MES/ES Still in a down trend, Next Impulse Leg Target 4150
I would like to say that I was dead wrong on my last post, and I sold my SPY shares for a loss. It is ok to be wrong. It is not ok to stay wrong.
I am still learning and improving on how to see market structure and trends.
Trading is very difficult, and I will be the first to tell you, I am wrong about 50% of the time.
It looks like price bumped its head up against the hourly 200sma and is on its way down for the next impulse leg to 4150 based on the prior two legs down.
Based on the last two legs down, it seems that the hourly price likes to trend off of the 21ema and so I drew a channel based on the 21ema
I am still learning and improving on how to see market structure and trends.
Trading is very difficult, and I will be the first to tell you, I am wrong about 50% of the time.
It looks like price bumped its head up against the hourly 200sma and is on its way down for the next impulse leg to 4150 based on the prior two legs down.
Based on the last two legs down, it seems that the hourly price likes to trend off of the 21ema and so I drew a channel based on the 21ema
