How to Trade the ES Today on the Down Opening

The market opened down this morning and took out Friday’s low, then immediately staged a big rally and managed to take out Friday’s high, creating an ‘outside vertical bar’ (an ‘engulfing pattern’ for those of you who prefer candlestick charts). If the market is able to sustain this move and close in the top quarter of today’s price range (high minus low) could mean higher prices to come in the next few days. If on the other hand the market closes in the bottom quarter of today’s price range we could then see the small market correction everybody has been looking for. So, let’s see where today ends up closing. I hope this helps along with today’s video.

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