ES Falling Wedge Range Bound Similar To May 2023 Exactly
Looking at May 2023 I can see mirror image patterns.
1. Sideways consolidation box
2. Start of new month at the high of box
3. 200sma going in the middle of the consolidation
4. 3 Highs at the start of the new month
5. Blue line is the Monthly Open price
6. Falling wedge pattern
If I buy now on the break of the falling wedge pattern and the close above the 21ema, then I must be willing to hold it without it not really going anywhere for another 2 weeks or so.
Here is May 2023
1. Sideways consolidation box
2. Start of new month at the high of box
3. 200sma going in the middle of the consolidation
4. 3 Highs at the start of the new month
5. Blue line is the Monthly Open price
6. Falling wedge pattern
If I buy now on the break of the falling wedge pattern and the close above the 21ema, then I must be willing to hold it without it not really going anywhere for another 2 weeks or so.
Here is May 2023
Identical in the setup so far. I am a big believer that the market maker templates use similar ideas prior and they show you their hand if you look