ES 7 Day chart bearish long term median test

14 de nov. de 2015

I'm a believer in cycles and rather than use defaults I try to pick specific time frames, for ES 7 days. I like how the candles are cleaner in some time frames. This is Andrews pitchfork from Oct 2014 to the Aug pivots. We stopped exactly on the main median line, we should now go under and around to consolidate . A fast drop would have indicated a bounce but decent was slow with negative momentum. So I expect 2 possibilities, a dip unders followed by slightly rising prices and rally as we consolidate. Or dip under test and fail then drop, or slice through and drop. I favour the latter 2 since other indicators do not support the first