swingarm trading discussion: Summary of today’s price action in one chart:
Notice the blue candles then the white once it bottoms out.
Time Cur. Imp. Event Actual Forecast Previous
USD Core Retail Sales (MoM) (May) 0.1% 0.4%
USD Initial Jobless Claims 250K 261K
USD Philadelphia Fed Manufacturing Index (Jun) -13.5 -10.4
USD Retail Sales (MoM) (May) -0.1% 0.4%
We may see a backtest of support – lows of yesterday to confirm if buyers are still there or not.
Overall, we are at extremes and volatile moves are likely. So as usual, trade with care and respect stops.
4400 Support – 4500 Resistance Weekly Zones.
4400 Support – 4500 Resistance Weekly Zones.
4400 SUPPORT – Highlighted at 7:30 AM. See chart above.
Big picture – vs. 1 min
Keeping the above chart in mind, see if this sequence helps:
ES Continuos contract, M and U Contracts.
Extremes – but buyers keep pushing.
NQ – AT 3 Std. Dev Extremes but with room to move higher.
No new resistance labels guiding to a top approach.
1 MIN VIEW WITH 1HR SWINGARMS AND HIGH PRESSURE ON
BOTH NQ AND ES
Extreme Signals are all over and the price keeps moving up. As long as the 1 min swingarm is pushing the trade is long.
Extreme Zone of the Weekly
Trading the ES last week, even amidst the complexities of the quadruple witching phenomenon, was rather straightforward, providing ample opportunities for substantial profits. However, the upcoming week may present a more challenging landscape. In retrospect, last week’s trading was uncomplicated with a bullish trend on every dip. Notably, the anticipated volatility from the quadruple witching event didn’t materialize, reinforcing the importance of trading based on chart analyses rather than personal apprehensions.
Moving forward into this week, we might observe a degree of turbulence with swing arms (lower timeframes) potentially in conflict with each other as consolidation unfolds. Let’s navigate these waters together, leaning on the expertise of our team and the resilience of our strategies.
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Given the current chart configuration, would you classify it as bullish or bearish? If you were to initiate a trade based on this setup, would you opt for a long or short position, and could you please share your reasoning behind this choice? (Refresh Your Charts – CTRL R) Regardless of your overall trading strategy, it’s crucial to determine your specific thresholds. Identify where to set your stop-loss and potential targets at which you might consider realizing profits.
Engaging when questions are asked may be profitable.
Thanks to the robust correlation of 92% between the S&P 500 and the Nasdaq 100, any strong buy or sell signals that emerge on one of these indices could potentially hint at a similar trend developing on the other index. In other words, it’s highly probable – 92% of the time – that they’ll mirror each other’s movements. Our Swingarem pressure system is equipped to provide these crucial alerts, serving as a reliable guide to help streamline your trading decisions.
Please keep in mind, however, that during periods of high volatility, this correlation may fluctuate. For example, Nasdaq stocks might exhibit significant movement due to earnings announcements or other market factors. Despite these exceptions, overall, the two indices generally sync up and follow a common trend, thanks to their strong correlation.
Notice the FAILED Bullish signals on ES. Then backtest and SELL signals with pressure DOWN.
Response to the question above.
SIDE BY SIDE – ONE MINUTE – ES500 / NASDAQ 100
PRESSURE RELEASE MARKERS OF THE CHART – EITHER BUYERS OR SELLERS IN CONTROL – Prior to market opening, squeeze highlighted by resistance and bearish p144 with buyers pushing with pressure. After the market opens, swingarm breaks, and selling pressure signals. triggered.
Reaching extreme supports which can be the exit if desired.
Illustration of today’s price action based on the upgraded system – NASDAQ
ES ILLUSTRATION UP TO NOW
NASDAQ ILLUSTRATION UP TO NOW
Bear in mind that the swingarm pressure system possesses the capability to spotlight virtually every significant pivot point for price. Given this, there’s no obligation to execute every potential trade. More often than not, the initial setup of the day tends to be the most promising one. From a day trading standpoint, there may be two major trades on occasion. A single well-timed entry, yielding a 20 to 30-point profit on the ES with a few contracts, is sufficient to notably grow an account. The primary objective here isn’t to be entirely absorbed by the charts but to become successful traders who also have ample time to cherish family life and the benefits derived from trading victories.