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INTERVIEW: StrongHedge
Strong is a price action and moving averages trader, investor and scaler of multiple businesses, both inside and outside of crypto.
“I believe in continuous improvement.
Hit a target, cool. Time to set new targets and keep pushing.”
JIM: ES VOL EXPANSION
ES is an interesting chart to me. We have seen an emotional rollercoaster for a year now of back-and-forth flip-flopping bias.
However, the ES has actually just been range bound for almost 12 months now.
My gut is telling me we get some directional expansion soon.
We are trading right at the multi-month Point of Control.
The weekly picture is what interests me, we have RSI consolidating and diddling in the middle for some time now.
As per my system, the direction is more likely down based on consolidating below the midpoint of my bands.
I think a consolidation of this length would produce a move of around 20% once a break occurs.
This would bring us down to $3200-3300. A break up however could bring $4600 into play but my personal bias is to the downside. Seems more likely.
-Jim