|E-Mini ES Anchor CHart|
We open the VIP chart and we see some very important clues that change our opinion of where we should be trading this morning on the E-Mini S&P.
First, we see the price-action closed at the highs on Friday, which is a VERY BULLISH clue.
Second, we see the BIG GAP DOWN which tells us the sellers are indeed in control.
|E-mini ES VIP Chart|
Third, we see the opening-print is very bullish, with a big green candlestick, followed by another bullish candle that closes above the high of day. This tells us that whatever caused the sellers to be in control earlier has changed and now we want to buy on the way up to the PLOD and then buy more above the PLOD with the profit-target at the PHOD.