April 10th, 2023 - ES 500 Futures Commentary - Posted on Discord Live.
Supporting charts are provided on Discord.
5 Min Zone 4 – Each zone at a time provides an opportunity.
The spreadsheet is available on my website if you would like to track this basic analysis.
Parameters: Max 4 Trades a day (daytrading) Max Stop 6 Points.
Lunch hours in trading can be unpredictable; market activity may either consolidate or make an aggressive move when many traders are away for lunch or taking a break.
The swingarm trading system relies on a process to calculate projected zones and track them closely. Recently, a short was signaled on the 15-min chart, leading to the rejection of zone 4 and a price drop to support, which held. The next targets include the 30-min chart and the continuation of the cycles to the 1-hour continues (potentially). Price movement generally follows the sequencing process, but the market may have unexpected surprises. Traders require enough chart study hours to gain experience and handle such situations effectively.
Keep in mind that the upcoming targets are the 30-minute, 1-hour, and possibly even the 2-hour zones. Although it is impossible to know for sure what will happen, understanding the slingshot effect, along with wave trendlines, swingarms, and pressure, can help make better decisions. Even if the entry is incorrect, guide rails can be used to limit losses.
The bullish trend continues as the one-minute swingarm keeps pushing upwards.
Higher timeframe zones require more consideration for entry analysis, as they have the potential to initiate backtests. Zone 4 is a prime example of this. The one-minute swingarm shows buyers still in control, with the ideal entry being a short backtest of the 1-minute cycle to its zones. As discussed earlier, the 2-hour backtest is also a possibility.
But the 2hr backtest is not likely today, in my view.
As discussed in the live ES Morning prep, everything is unfolding precisely as charts guided the way. While it’s impossible to forecast market movements with complete accuracy, the swingarm system, along with an understanding of price action, slingshots, and pressure signals, can help capture a significant portion of the market’s profitable opportunities. Ultimately, it comes down to one’s ability to overcome fears and emotions to see the bigger picture and act accordingly.
30 Points up while traders go to lunch. LOL.
ES futures are down by 2.50 for the current session. The swingarm pressure system has presented around 62 points of potential opportunity. It’s not necessary to take every trade or capture every point that the market offers. Most traders can feasibly aim for a percentage of that maximum amount, even if it’s just 50%.
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Visual / Color Coded Alert System, That Allows A Futures Trader To See An Upcoming“ Significant Market Move” Prior To The Event Occurring.