ES - Weekly War With Buyers & Sellers

ES1! is stuck between a rock and a hard place! From a macro perspective, we have been on a bullish uptrend since the 27th Oct 2023 with daily HH and HL's being formed. Every now and again, a minor retracement is necessary to accumulate more positions to continue to the upside.

This week, we have witnessed sell stops being raided however the overall bullish structure is still in full swing, as long as 4936.50 13th Feb bullish engulfing lows is not traded to and through.

I do believe we are in for a short term retracement with the likelihood of price action continuing lower a strong possibility, especially with the volatility expected this week.
4998 discount array is an area in price I expect ES1! to sweep with the possibility of 4983.50 and 4976 attacked by shorts.
With that being said, I can also account for the fact that the arrays mentioned could be the very springboard for smart money to accumulate longs and reprice above all time highs, currently sitting at 5066.50. This is the risk to my weekly bearish bias.

My philosophy is simple...

Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go.

This includes;

- Market Structure
- Buyside/Sellside Liquidity
- Order Blocks
- Liquidity Voids
- Fair Value Gaps
- Optimal Trade Entry
- Premium/Discount Array
- SIBI/BISI
- Many More!

The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated.

Credits;

- Michael Joe HUDDLESTONE
- Shawn Lee POWELL
- Toray KORTAN

Comment:

5011 1-Hour sellside liquidity has been ran on.
Aiming for 4998 equilibrium during the Asia/UK session

Trade closed: target reached:

4998.00 equilibrium was met and further downside on the 20th US AM session; 4976 was also met which was the daily bullish order block in which mental TP was set at

Comment:

This is another classic example of my overall weekly bias being a tad bit off but still profiting from the short term swings in price action.

When 4976 was met, we saw immense buying pressure in ES1! , pushing us up into ATH territory @ 5123.50 on Friday 23rd close.