My post this AM will be short and sweet. This is my percentage pullback chart that I keep on the major futures, ES,TF,YM,NQ. They are all setting up pretty much the same as the end of August.
In August we had a sideways period where we set a 3rd rail new high (3rd rail high is a high that triggers selling) on August 28th vs. September 23rd this month. The new high sold off down 4+% (the yellow line is the 4% line) and then rallied strong until the new sideways top in September.
Currently we have pulled back to almost 4% so we could rally from here in this repeating bull pattern, or we could go back and battle along the 4% line.
Watch those ES values today..
4% PB – 1032.75
3% PB – 1043.75
2% PB – 1054.25
1% PB – 1065.00
High – 1075.75
Happy Trading -
Marlin aka: Redliontrader
