ES – After the Big Gap

By Lawrence

After the big gap today, notice that previous week range (left side blue lines) is breached to the upside.

It came from the test of previous week low on Monday.

2 price areas are now enabled,

  • 100% expansion of Monday range is in 1160 to 1162 area
  • A pull back from today’s high implies at least a test of today’s open range top of 1148, and for more bearish scenario a push towards the gap top at 1142.

Best trading opportunities will present themselves when either one of these zones is tagged first.