E-mini ES 2019/01/14

Bear gap, below LOY, fBO LOY, XT, fL2, 1IB, bull CH, LH MTR

daily chart
Always In Long (AIL) since 01/04
bulls need a decent BO above 12/19 high to have more up
bears sell closes at or below the 12/19 high (near resistance)

there was a nice re-test of LOY just before the close, like a “breakin test”

this happens, when the market opens below LOY and sellers placed lmt sell orders at the LOY, they were filled during b3 and might have scaled in higher
after giving up their premise of a close below the LOY they bought back shorts at their 1st entry
die hard bears waited until three bars before the close 😉

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