ES overnight / Friday daytime trading scenarios

Charts for overnight ES support both bullish and bearish views.

For overnight, I see 998 as an important pivot. If the ES can stay over 998, then the bullish scenario is likely. If ES declines under 998, the bearish scenario. Or is the upper R or lower S not broken then it range trades.

In the morning, the 998 pivot and scenarios below might need adjustments, but this is what I see for now.

Bullish: ES stays over 998, and tests 1004 R. If 1004 breaks higher, then 1008, 1011, 1014, 1017

Bearish: ES breaks under 1000, then breaks 998 to target 985

Range: Actually right now, the ES is trading in a range and can do so all night long.

Calcs:

(1) The Ascending Triangle (W) in the chart is 991-1004 = 13 points. So 1004 + 13 = 1017 max target but think 1008 will give resistance.

(2) Note that the upper R trendline gives a similar 1012 max target

I noticed the possible W below before it was complete and made a nice 1 hour daytrade using sso at the breakout point, buying at 30.70 and selling at 30.87 and selling more at 31.03 high (the last 2 green candles were caught) and posted in Gary's room live at 3pm.

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