ES bull run really looking long in the tooth. Has clearly formed 5 waves and starting to print long wicks up top.
Will be watching for a way to short in the wick area with a target back in the value area below the POC.
Mainly looking for a double or triple top for the entry. It did print a lot of volume during the 5th wave so it will probably chop around a bit before dropping, expecting to have to wait through a full head and shoulders so will be patient waiting for the right shoulder AFTER it appears to have dumped out and people are chasing it. Watching for the shoulder line to be slanting downward which is the most difficult kind of right shoulder to catch.
If it doesn't do all this I'll just not do anything since there is volume behind the up trend and there's no point in standing in front of a train.
Will be watching for a way to short in the wick area with a target back in the value area below the POC.
Mainly looking for a double or triple top for the entry. It did print a lot of volume during the 5th wave so it will probably chop around a bit before dropping, expecting to have to wait through a full head and shoulders so will be patient waiting for the right shoulder AFTER it appears to have dumped out and people are chasing it. Watching for the shoulder line to be slanting downward which is the most difficult kind of right shoulder to catch.
If it doesn't do all this I'll just not do anything since there is volume behind the up trend and there's no point in standing in front of a train.