ES's long trap played out on Monday, later than the other 2 US indices, before the shorts took over on Tue 13 Sep. Friday's last 2 H3 up bars happened on very high volume. Keep stops tight if long as there is likely selling into the up move.
Possible Scenarios are considered: 1) Temporary long opportunity if 3853-3902 is supported 2) Short if test and rejection of rotation area (circled on chart) / rejection of 4051 / 3981
Weekly: High vol down bar close off high = demand coming in Daily: Ave vol down bar close toward high = demand > supply H3: Ultra high vol up demand bar followed by 2 very high vol up bars = caution as there may be selling into the up bars
Price reaction levels: Short = Test and Reject | Long = Test and Accept
4303 4175 4051 3981 3903-3853 3742
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