February 4, 2016

  • ES 4 hour chart shows immediate support at the cloud. Break below the cloud may test recent lows.
  • Bulls need daily to stay above 50% retrace level. Bears need price to fall back below 1850 levels.
  • Bulls safe till they stay above 4 hour cloud. Weakness if price falls below the cloud.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore