Quick look at the ES coming into the week. ON tested VAH and VAL from Friday. Now back to VAH and looking to gap up. Pretty typical late GBX move into RTH. If it gaps you really need better than 5 pts over PDH to matter. If so then go with gaps that do not fill within the first hour. If they attempt to gap but fail then you are looking to rotate through Friday’s value again. Not that I would short it. Of course anything can and will happen closer we get to RTH (Mark Dougloas RIP). Nice mean reversion on the hourly and 20k footprint charts. Not going to be a hero today. Patience and focus are key.
Also just fyi… I do not trade chart patterns but I do have a secret love for the cup n handle and we have a cup on the hourly. Just need a handle. So fits the pullback to get long scenario.
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