Ricky Wen

Articles by Ricky Wen

Price action on Monday found a temporary bottom and then proceeded to bounce back into the 50-61.8% Fib retracement region before rolling back into the expected 3250-3240 support area on the Emini S&P500 (ES).

The main takeaway...
Tuesday’s session played out as a doji consolidation day that acted as a high-level consolidation.  Overnight saw higher-lows & higher-highs structure into the top end of the pre-determined January range of 3337-3155 on the ...
After Sunday night's grind up, Monday’s regular trading hours session was just a very tight consolidation overall range of 3083-3072.5 on the S&P 500, trapping and baiting traders as it gets ready for the next move. Price action could...
Monday’s session showcased commitment from bulls as they defended against last week’s 2980.75 key range low support on the Emini S&P500 (ES) with a double-bottom low at 2982 during Globex trading. Price remained above the daily 20 EMA...
Monday’s session played out as a range/digestion day per our weekend report expectations as the market takes a breather after the bulls completed their 3-week upside continuation assault. As you can see on the chart, the price action...
The second week of July continued to follow our expectations.  Early in the week we got the expected backtest pullback into the 2950-2960 trending support zone, and then price formed a 2963.50 low to confirm the low of the week was in...
The last week of June completed as an inside week that traded very close to within our expected 2969-2915 high-level consolidation range on the Emini S&P 500 (ES). The actual range for the week was 2961.75-2914.5.

Essentially, the...
The second week of June played out as a high-level consolidation with the Emini S&P500 (ES) moving in a tight horizontal flag ranging between 2911.50 and 2867.25. This meant that the bulls were very strong as price was unable to...
Monday’s session was a deadly and massive bull trap due to the morning false breakout above the key 2693/2700 levels with the high at 2707 that lasted for a brief moment and looked like the start of a significant temporary bottom formation...
Monday’s session was a doji range day with the S&P 500 repelled at the morning high near 2780, dropping towards Friday’s low around 2750, and then consolidating around the intraday lows for most of the day. Basically, the price action...

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