After a concerted move down yesterday, the ES! tried to reverse the downturn overnight on reducing volume. It has mainly trade above the VWAP however, the overnight POC has been below yesterday’s. This could mean that price needs to come back and test the overnight POC or low before continuing up. After yesterday’s move, the price could just oscillate within the range as traders ‘wait and see’.
Wait for the initial balance to be established (1hour) before taking a position.
Wait for the initial balance to be established (1hour) before taking a position.