Cobra's Market View

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Double bottom?

ES daily.

Pullback to the EMA 20. 5 days.

Now hanging onto the EMA.

Whither goest? Back up? Ha ha.

I do not see signs of major pullback at this time.

Of course it is vulnerable, as it is on a long trend up, climbing the wall of worry.

ES hourly.

Finding support at S1.

On a bounce up to and through the Pivot.

Resting on a support level.

Harami candle formation and balanced market profile are what we have at hand. the consolidtion box is clear, leaning bearish overall while a trend change can also occur here. Intraday trade: same playbook.

ES 5 minutes.

Primed for a breakout.

In a trading range for 5 hours.

Which way? Don't know yet.

ES 5 minutes.

Trying to breakout.

Part way through the process, on the pullback/pause. It needs resume its way up.

ES 5 minutes.

And there it goes.

Could it still go back under the key level? Yes, but it seems unlikely at this time.

Be careful out there. As we know the market is trickier than ever.

ES 5 minutes.

That was just nasty.

But it did not pullback back beneath 6406.

Double nasty.

And now it has shot back up big time.

Back later. I traded earlier this morning, 5 hours ago, when it was quieter.

I'm going back to sleep. Ha ha.

Later ...

Well Jay Powell did move the market in a most exhilarating moon shot way. But the wave counters need a new all time high so the bulls need to follow up with sustained buying before a 10% or better pullback.

The pullback probably will be bought.

It's Friday.

From Ninjatrader Jim on X- call resistance at 6,500

As a trader, we are only asking for volatility with trade-able direction. today, I am packing home a backpackful of volatility into the weekend. trade well, GLTA. Peace!

No sharp pullback in the next couple of bars then it's an uptrend day.

BullBear52x wrote: ↑Fri Aug 22, 2025 11:05 am Cobra, you're rock!!!, best forum without unnecessary noises.

Wow, thank you. You're so happy today, guess you made a lot of money on that bull spike?

Cobra wrote: ↑Fri Aug 22, 2025 11:09 am

BullBear52x wrote: ↑Fri Aug 22, 2025 11:05 am Cobra, you're rock!!!, best forum without unnecessary noises.

Wow, thank you. You're so happy today, guess you made a lot of money on that bull spike?

Consolidation, breakout on the upside is more likely.