ES Gameplan Friday 09/08/23 Gap Up Run Range Sell High
Price gapped up a whopping 50 points or 1.1% right at the Asia Open. I predict that price will consolidate sideways until the 21ema on the hourly catches up and around 7am EST price will start its bullish run up to the Red Line, stall and sell back off down to the blue line (Asia Open)
Today will likely be a range day in the sense that buy low and sell high. I have a feeling that people will see that it gapped up and try to short it thinking it will " fill the gap " but not until it runs up another 0.70% to 4530.00
Look for three drives to the low pushing into 00's or 4500 before the explosion higher for 35 points. Then a doji candle until around 10:30am EST before selling off back down to 4507. I believe Friday will close around 4510-4515
Overall price is in a major range and is trying to go back up to the top of the range.
Today will likely be a range day in the sense that buy low and sell high. I have a feeling that people will see that it gapped up and try to short it thinking it will " fill the gap " but not until it runs up another 0.70% to 4530.00
Look for three drives to the low pushing into 00's or 4500 before the explosion higher for 35 points. Then a doji candle until around 10:30am EST before selling off back down to 4507. I believe Friday will close around 4510-4515
Overall price is in a major range and is trying to go back up to the top of the range.
DO NOT SHORT BULLISH MOMENTUM. Price is on a mission to go to 4535