If you look at GES daily chart on the left you will see that its below all the major moving averages and its been making lower lows. The 16.54 is the immediate overhead resistance, and the blue trend line is the immediate support underneath.
On the 5 min chart you will see that currently its double topping.for a Short trade, the Price Action needs to get below the blue trend line, 20 ema and the VWAP. I would go Short on it once it gets below the VWAP at 15.50, first profit target being the premarket lows at 15.00 whole dollar support and then 14.88 for 2nd Profit target. The last profit target (back of mind target) 13.67 daily pivot. I wouldn't take it for a long as all the major moving averages 20/50/100/200 are above it. The only setup for a Short for me is if it gets below VWAP, otherwise no trade for me.
On the 5 min chart you will see that currently its double topping.for a Short trade, the Price Action needs to get below the blue trend line, 20 ema and the VWAP. I would go Short on it once it gets below the VWAP at 15.50, first profit target being the premarket lows at 15.00 whole dollar support and then 14.88 for 2nd Profit target. The last profit target (back of mind target) 13.67 daily pivot. I wouldn't take it for a long as all the major moving averages 20/50/100/200 are above it. The only setup for a Short for me is if it gets below VWAP, otherwise no trade for me.