Higher Time Frame Analysis With MandoTrading. How Much More Upside Does This Rally Have In The Tank?

ES | Weekly

Moving to a higher time frame to take a look at ES SPY Futures...

For those new to my content, first off, WELCOME. Second, the reason I chart $ES over $SPY or $SPX is because futures run 23 hours a day, 5 days a week. Those overnight levels that form during the Asian and London Session are highly useful, and go unseen with only a gap on SPY.

Market finally got a close above the 50% range from 2022, creating a bullish volume imbalance in the process. For those who follow my content, you know I have been bullish for some time now, BUT, to be fair, IF the bears are to step up, I believe it will be at 4328, which is weekly buyside liquidity, inside a bearish imbalance and slightly above the .62 retracement, which could be the recipe to create some downside.

I scalp 90% of my trades, so the higher time frame really does not play too much of a factor for me, but it does add an extra layer of confidence in terms of directional bias.

For more charts, check me out on Twitter @MandoTrading ! 

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