Recent Articles by Ricky Wen

Major Point Of Contention At ES 4400-4410 Zone

Given it’s been a trend week down, it’s important to observe whether the sellers win it all by closing the week at the lows or we see a stick-save from the buyers.
by Ricky Wen - 8 months ago

Nightly KISS Report: CPI Timing Catalyst, Waiting For A Decisive Range Expansion

Going into the CPI timing catalyst today, nothing has changed in the overall parameters -- the market needs a daily close above 4550 or below 4490-4500 in order to expand the range further.
by Ricky Wen - 8 months ago

Ongoing Breakout Attempt After One Month Of Bullish Consolidation

Given today’s CPI breakout/acceleration, immediate supports have moved up significantly and the market is telling us to be prepared for further range expansion in the coming days.
by Ricky Wen - 9 months ago

Market Analysis for Jun 1st, 2023

Now ES 4230s NQ 14500s.A few market participants you can visually see…1) Shorts obligated to cover/cannot take more pain. Forced hands/margin calls into EOD close2) Late buyers forced to chase, didnt buy at 4170s, didnt but at 4180s, didnt buy at 4190s and a few lost souls going all in at 4230s nearing the Monday high. Same with NQ nearing the 14500s/14570 Monday high spot.3) active trend traders bought the dips/LOD, buying all day, like us reaping the rewards off of the momentumFor educational purposes.
by Ricky Wen - 10 months ago

Ongoing Tech Led Breakout While Equal Weighted Market Remains Unenthusiastic

Wednesday is the last day of the month, so the natural expectation is price action will be consolidating, back-filling, and parking the price around the monthly highs here to wrap up the month.
by Ricky Wen - 10 months ago

Buyers Failed To Capitalize at 4200s+ ... Can Sellers Force A Breakdown Into 3300s?

Rangebound trading continues and price action is getting very close to a large range expansion given the amount of trapped market participants here.
by Ricky Wen - 1 year ago

Price Against A Wall

Going into this week, the primary risk will be pullback into the daily 20EMA trending area or a sideways consolidation market.
by Ricky Wen - 1 year ago

Market Analysis for Jan 25th, 2023

Looks like a liquidation is occurring towards the 3980 weekly low area, short biased today when holding below 4000. Let's see how RTH opens, trend day down possible.See last night's report for context:Intraday trading parameters:*Jan 24 buyers were not able to keep up the pace and strength of the past 2 sessions. Price action took a breather and market is just stuck balancing in our pre-determined range of 4040-4000. Jan 24 EOD settled at 4038s ,the second session in a row…above last week’s highGoing into tomorrow, want to note that there’s tremendous risk of a counter attack from the sellers given the price action structure we’re seeing across the board.
by Ricky Wen - 1 year ago

Market Analysis for Jan 24th, 2023

Thinking range day likely to continue until price action goes outside our 4040-4000 parameters, given in premarket update.High of day so far is 4037Low of day so far is 4005.
by Ricky Wen - 1 year ago

Favorable Setup Into Friday

As of writing, it’s a trend week up context from Monday Jan 9th into Thursday Jan 12th, which means that buyers have a favorable setup going into tomorrow.
by Ricky Wen - 1 year ago

Decisive Breakdown Below 3950 As Markets Heads Into Santa Rally Bullish Seasonality

Basically, 3950 on the Emini S&P 500 will be the most pivotal point of battle for the incoming sessions given the context of the breakdown structure below the 4-week low.
by Ricky Wen - 1 year ago

Market Analysis for Dec 8th, 2022

Overnight held support again as sellers failed to breakdown prior day’s low of 3914 and carved out a higher low at 3916. Globex traders had a good opportunity to buy the dip once it recaptured 3930s.Now, testing into 3950/3960 which is range high of yesterday so traders will be looking to take profits or find a range high shorf. This also means price action has established a base around 3910s over past 24-36 hours and could be trying to expand into higher resistances of 3980/4000.After RTH open, see if buyers able to get a break and hold above 3960 to confirm this structure. Buyers won the globex fight by defend against the range low.
by Ricky Wen - 1 year ago

Market Analysis for Dec 7th, 2022

Overnight ES rejected at 3954 against the trending resistances. As of writing, price tested against the important 3912-3920 support and bouncing back into 3930s on first try basis.After the RTH open, watch for 2 scenarios to execute1) break and hold below 3912-3920, opens downsidecontinuation into 3885/3865/3850 (trend day)2) unable to break 3912-3920, opens oversold bounce to backtest 3950/3960/3980 resistances (range day)Remember, it’s been 4 days down consecutively and yesterday got into extreme oversold territory That means where the countertrend bounces get rejected will be telling.Context from last night:https://www.elliottwavetrader.
by Ricky Wen - 1 year ago

Bullish Seasonality Week, Need To See Breakout Continuation

Buyers are in pretty good shape going into one of the most bullish seasonality weeks as long as support keeps holding.
by Ricky Wen - 1 year ago

Market Analysis for Oct 28th, 2022

Good morning train riders,We may still be some sort of a range day again given last night’s parameters. Things are standing on a thin line for bigger pic in terms of must hold area for this week.Given the overnight globex action, we’re still using 3830 as key short term resistance alongside with 3750s temp low. (Earnings low) Current weekly low = 3730s.Now,hovering around 3800-3790s. We’ll need to see how RTH open for the first 30min-60mins. Judge whether last night’s daily 20EMA sticksave could be sustained(need to reclaim 3830) or we’re heading lower into 3750/3750/3730 again.
by Ricky Wen - 1 year ago

Market Analysis for Oct 25th, 2022

ES overnight globex played out as high level consolidation, meaning price action is consolidating in a bullish manner above support and digesting the move.If you recall, 3730 was our key level going into this week. Yesterday globex bottomed at 3730s and 3750s bottomed at RTH. Then, market proceeded to make a new monthly high of 3822. We expect short/term trend to continue higher into 3820/3830/3850 immediate targets.Weekly targets remain the same, they were 3820/3900/3950 since last week. Unchanged.Conversely, a break below 3750 would be first clue of weakness. A break below 3730 will be confirmed a bull trap/breakout failure and rotate back lower into 3680/3830.
by Ricky Wen - 1 year ago

Market Analysis for Oct 24th, 2022

This is the greatest and toughest game you'll ever participate in.Let's be real here comrades, today we made it out alive, kicking and screaming. It was not an easy day. Quite bumpy actually.Gotta trust the process and system throughout the course of a larger sample size. Not 1 day, not 1 week, not 1 month. Observe and learn.This game is mentally exhausting, capital intensive and risky. It only takes a few clicks to blow it all up if you do not manage risk.To paraphase of one the greats: in order to strive in this business, you best be ready for the fight of your life. The biggest enemy is you.
by Ricky Wen - 1 year ago

Most Important Earnings Week Heading Into Year End

After many attempts, price action on the Emini S&P 500 (ES) closed above daily 20EMA as we head into the most important part of earnings season
by Ricky Wen - 1 year ago

Market Analysis for Oct 21st, 2022

Market about to open around yesterday’s close and nearby the 3680 key level. Indecision between buyers and sellers right now waiting for a breakout. Be prepared for more rangebound traps. No changes from gameplan:Key ideas going into the next session(s):After Tuesday’s breakout above daily 20EMA and closing above 3730, buyers have been getting no traction or follow through. Two digestion days in a row waiting for climax/next week’s earnings. Buyers failing.
by Ricky Wen - 1 year ago

Market Analysis for Oct 19th, 2022

A live view at train riding and real-time risk management.  https://www.youtube.com/watch?v=yACgfb2VxS Waited hours for the liquidation/stoprun below yesterday's low, picked up low of day setup/entry.Now, train riders mostly done for the day. Trim and trail, cannot lose. EOD close is what truly matters. Above/below 3730...
by Ricky Wen - 1 year ago

Market Analysis for Oct 11th, 2022

Overnight topped at ES 3630s around Asia open, then proceeded with a breakdown setup below 3600 targetting 3570 (monthly low). Sellers ran with the trend until 3584 produced a micro double bottom. As of writing, market bounced back into 3625 (yesterday’s closing price). Now, hovering around the 1hr 20EMA trend before RTH dictates the next move.Going into RTH open, the parameters for range vs. trend day remains the same as yesterday’s report.3570 is the must hold level as support as that’s the ongoing October monthly lows. Again, below 3570 opens up much lower downside targets at 3550/3500/3450/3400/3380…etc.
by Ricky Wen - 1 year ago

Market Analysis for Sep 30th, 2022

Alrighty, making an executive decision here. We're closing the month around the PL highs as we secured some quick scalp profits today.Chances of getting rekt inside this three-day triangle pattern*  is high so I'm not gonna allow train riders to overtrade.  Have a great weekend! 😎 🚄 *3680-3620s range, now stuck 3650s in the middle with these algo VWAP sellers...
by Ricky Wen - 1 year ago

Market Analysis for Sep 27th, 2022

Done trading for the day. Profits in the bank. Adapt with risk management.Looks like stuck as a range day so it is what it is. No juice above 3730 yet.
by Ricky Wen - 1 year ago

Market Analysis for Sep 22nd, 2022

Prescient…while on vacationResults are for all to see😎🏆3800 ES target filled and printed moneyMy PL/time while in a tradeis off the charts(Don’t worry, will lose soon, statistically guaranteed)
by Ricky Wen - 1 year ago

Bull Trap/False Breakout Confirmed

Tuesday Sept 12th played out a massive trend day down (ES 4.3% and NQ -5.5%) confirming Monday was a bull trap/false breakout.
by Ricky Wen - 1 year ago

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