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05/30/2024 Live Update

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Cobra
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05/30/2024 Live Update

Post by Cobra »

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For now the overnight rebound looks like a bear flag so bias is down. Just the bear flag often not working so this may change. I'll give 51% chances to bears.

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JFR
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Re: 05/30/2024 Live Update

Post by JFR »

ES daily.

Trying for a breakdown.

Beneath the trendline.

At the EMA 20.

Strong bearish marubozu candle yesterday.

It is a good punch by the bears.

2024-05-30_06-12-46.png
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JFR
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Re: 05/30/2024 Live Update

Post by JFR »

ES 60 minutes.

Downward action.

From R2 through R1, through the Pivot, down to S1.

And a bounce up as it tries to form a bottom.

2024-05-30_06-17-04.png
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Cobra
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Re: 05/30/2024 Live Update

Post by Cobra »


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Cobra
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Re: 05/30/2024 Live Update

Post by Cobra »

I see initial sign of downtrend day.
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Cobra
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Re: 05/30/2024 Live Update

Post by Cobra »

EMA20 now is the bear's last chance today for the 2nd leg down.

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Re: 05/30/2024 Live Update

Post by Cobra »


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BullBear52x
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Re: 05/30/2024 Live Update

Post by BullBear52x »

Swing setup, there is change, last buy failed, next rip will be sold.
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Intraday: new swing low, it is bearish bias.
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Internals: bullish bias, there is no follow through on the bear side, it is worth noting that multi-time frames are now on the sell the rips. buyers need to bring in the A-game tomorrow. Peace!
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BullBear52x
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Re: 05/30/2024 Live Update

Post by BullBear52x »

Bonus chart: today marked the first day of change in the short term trend, a new LL today is confirming a first new LH. keep it simple.
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BullBear52x
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Re: 05/30/2024 Live Update

Post by BullBear52x »

No fear No bear, it is a fearful market. caution!
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Cobra
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Re: 05/30/2024 Live Update

Post by Cobra »

Looks like we have a price channel, so not strong up but it's up, bias is up.

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Re: 05/30/2024 Live Update

Post by Cobra »

Didn't expect this pullback, now testing day low, let's see whether bulls can make a double bottom.

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Re: 05/30/2024 Live Update

Post by Cobra »


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Re: 05/30/2024 Live Update

Post by Cobra »


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Cobra
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Re: 05/30/2024 Live Update

Post by Cobra »

Well, guess that's it for today. Here's what Friday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449397

Thank you guys, I'll see you in another thread soon.

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