Review the ES 500 Futures Chart: Comments by Jose 4/24/2023

Review the ES 500 Futures Chart. Gap down open.

Today, let’s review the ES 500 Futures chart. Over the past few weeks, the price has been ranging within the 4200 to 4100 range on the 2-day chart. This range is the first zone of the weekly bearish swingarm above, and the price has been in this zone multiple times. It may break up with positive news events or turn over with negative news events. Therefore, it is critical to keep a watchful eye on this zone in the days and weeks ahead. Lower timeframes will guide you in determining your next actions.

On the 1-hour chart, we can see a few swingarms, including the 2-hour and 4-hour high-pressure swingarms. The price has been down trending to test supports, and in the process, it broke down the 2-hour high-pressure swingarm, giving us a break-sell bucket that may be tested soon. The 4-hour point of control has provided support, causing bounces to test the resistances above.

As time passes, the 30-minute internal swingarm keeps dropping, increasing pressure against the strong 4-hour supports below. On the 15-minute chart, both versions of the high-pressure system provide us with all the necessary levels of interest, including the 15-minute, 1-hour, 2-hour, and 4-hour swingarms. This chart provides clarity and opportunities, as demonstrated this morning with a perfect zone 4 entry of a freshly created bullish 15-minute buy zone targeting the 30-minute, 1-hour, and potentially 2-hours sometime this week.

The one-minute chart provides clarity and support for the entry of the 15-minute zones this morning. Please note that your ability to trade this system will require more involvement on your part to study over time, as well as post questions to the questions channel to guide you in your learning. As questions are posted, I will provide answers to support your efforts. Do not trade live if you do not understand what you are seeing on the charts.

Trading Risks Warning: Trading involves risks, including the possible loss of funds and other losses. Therefore, you should be aware of and understand all the risks associated with trading before starting. Please ensure that you fully comprehend the risks and seek independent advice if necessary.

All 3 indices: ES 500 Futures Chart

All provided bullish entries during the European session.

Price heading up to test the 1hr and eventually the 2hr ( with several cycles in between ).

1 Hour

At the resistance of the Reg. Channel. Price is still targeting the zones of the 1hr regardless of the internals.

As discussed, the 30-minute swingarm is now confirmed broken up. now the next targets will be the 1-hour zones above and eventually the 2hr (probably tomorrow).

Can anybody tell me why the price is dropping? Comment your answers.

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Tell me as well where is the opportunity. Assuming you know the answer to the first question.