The ES has shown extreme weakness this year. It is our belief there is plenty of downside movement left, to remain in a long-term Uptrend (Monthly Chart). We've outlined a couple of the closest 4hr supply (red) and demand (green) levels that we believe price will react to if reached. There are a couple of additional levels between, especially to the downside, however these particular levels appear to have great significance. Will look for possible sellers at the above supply and buyers at the below demand, for potential swing trades.
Entry will only be met IF we arrive to the level in a clean vertical fashion and do NOT form an opposing level within a 2 to 1 distance of the level itself. Target will be just before the opposing level upon arrival (to be determined), stop is always above supply, below demand.
Entry will only be met IF we arrive to the level in a clean vertical fashion and do NOT form an opposing level within a 2 to 1 distance of the level itself. Target will be just before the opposing level upon arrival (to be determined), stop is always above supply, below demand.