TREND LINES AND BOT LINES

When a bull or bear trend line is noticed, watch where it will cross a BOT target.  If price is coming into that TL-BOT area, we are expecting a strong move.  Another entry that is favored, the PB  in price to the 50% level of a control bar.



TODAY:  ES AND 6E

The ES started with a long at b2 with EMA support and a BO at the long target.  Price was consolidating near the EMA, with resistance around 1271.  B14 was a short with multi-chart confirmation.

The first major PB to the EMA was a long with the EMA as the target.  B24-25 establishes the bear TL ans is an EMA FBO.  The MAXT b38-39 at the EMA is a short setup.  It is at the TL and EMA, and expected to break the lower BOT (short target).

B43 is a bear control bar.  We discussed this play in the room:  at the 50% level the PB attracted stronger buyer interest.  It was our long with a partial exit planned at the EMA and the balance at the middle BOT.  This play was cross referenced for longs in YM, ES, NQ, and TF.

The break of the TL at the EMA at the BOT is a strong buy signal.  B54 broke the MAXT level suggesting price would test the upper BOT.  It did.




6E

The 6E had a similar price pattern today.  Other than the BOT plays, the following were available:

1. B2 break at the mid BOT and EMA.  Cross referenced to multi-charts.
2. B15 break of the consolidating lows when price hit resistance at 4364.
3. B23-34 has multiple MAXT and EMA hold for shorting.
4. B45 is at 50% reversal of the bear control bar, and is a multi-chart confirmed long due to buyer strength.
5. B54 is a long BOT BO.