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Today's ES open has been very different from anything seen in the recent weeks. Very small trading range, and prolonged chop through the entire open. Only after 10:05am EST did it finally pick its breakout direction.
7am - 9:30 am est it was in the most narrow range I think I've seen since BC (before-covid).
With my trading strategy I was able to make it through with very minimal losses so I'm not worried about that, if anything it's given me more confidence in it.
But I was just curious if anyone more experienced has any thoughts on today's ES open.
I'm guessing it has something to do with the gap up over the weekend.
Can you help answer these questions from other members on NexusFi?
I'm no ES expert (not really an expert on anything, just a generalist), but that is how I see it. It is just some consolidation and rest before finding a direction.
ES and MES (running strategies on both) broke out earlier for me (around 7:10 ET to be specific).
What happened at 7:10?
Am I looking at the wrong thing?
I see that 7:10 is when it entered the tight range, and stayed around the same price level until after 9:30. Then there was some up/down traps, until 10:05am when it continued it's up trend.
