Probably A Dip To Buy

I was seeing a possibility of a retracement last night and was talking about that this morning in my premarket vid. The 60min sell signals on ES and NQ have made target but there is a strong case on NQ for a hit of a wedge support trendline currently in the 6460 area and that has not yet been hit. On TF, this is likely to be a pullback to establish a rising support trendline before the high probability retest of the all-time high, though obviously, this is a big news bomb week. Intraday Video – Update on ES, NQ, and TF

Here is the double bottom setup on RUT/TF shown on RUT. The action from yesterday’s high looks like a bull flag forming, and most likely that’s exactly what it is. RUT 60min chart:

If you are enjoying these intraday video updates, you can see those earlier by subscribing to our YouTube channel for The Art Of Chart. I tend to be uploading these an hour or so before the posts as the posts take extra time to prepare.

There is a lot of news this afternoon and tomorrow. Be wary.

Written by:

Richard Chappell

Jack is a 20 year retail trading veteran and co-founder of The Art Of Chart. He started his blog at in 2010 and since has published tens of thousands of charts looking at hundreds of trading instruments across most tradeable markets, doing original work mainly in the areas of trendlines, patterns and divergences. At The Art Of Chart Jack has taught trading skills, technical analysis, and the discipline and trader psychology that allow those to be used effectively in trading.

19th Dec 2017

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