current charting of es hourly
i look for break out and break down lines. these are identified by pivot points below a line that support and ultimately a large break out, or pivot points above a line that support followed by ultimate large failures when the line breaks. these lines become resistance and support.
note todays plunge on nfp and where it found support. the light blue lines are all break down lines with origin at nov lows. i expect these break down lines are at play now with the two larger selling events.
note todays plunge on nfp and where it found support. the light blue lines are all break down lines with origin at nov lows. i expect these break down lines are at play now with the two larger selling events.
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