ES and NQ have pushed backwards this morning following both major indices setting new All-Time Highs yesterday and in the overnight session. Technically, we still are seeing a lot of bullish momentum to the upside so I like buying on these small throwbacks when presented in the equity futures markets. Next significant resistance level on the ES presented in my 30MIN chart below shows a POC level @ 4530.75 but if we can run through then we are looking to rally back to the overnight ATH @ 4542.25 Check out the chart below for my full technical setup. I recommend the following:
BUY ESU21 @ 4417.00 or @ Market
SELL STOP @ 4499.00 ($900 risk per contract)
SELL LIMIT = 4550.00 ($1,650 profit per contract)
The MICRO contract is 1/10th exposure per contract = $90 risk / $165 profit per micro contract
*Risk/reward are calculated before commissions and fees*
30 MIN ES – Yellow Exhaustion Candlestick + New Green Support Box = BUY
Jace Jarboe | Futures & Options Broker:
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