ES

Last week, the ES (S&P 500 futures) established an upward trend channel, although the momentum weakened on the final trading day of the week. This Monday, the market opened with a bearish gap, merely retesting Friday's low before rallying again. An opening reversal appeared feasible, which became evident after the ninth bar, because it was followed poorly by the tenth bar (it was a bullish bar instead of a bearish bar).

Subsequently, an optimal entry point was at the peak of the tenth bar during the eleventh bar for a long position, with a possible exit at 1 MM(measure move), likely achieved by the twenty-fifth bar, which also suggested a clear take-profit (TP) signal around bars 25-26.

Bars 29 and 30 created a two-bar reversal pattern, but, disappointingly, lacked bearish continuation (if you had placed a stop-entry order below the lowest point of bar 30, it wouldn't have been triggered).

Bars 30, 34, and 39 formed a triple top with three upward pushes, with the high of bar 39 lower than that of bar 34, suggesting a significant likelihood of market reversal. If you shorted below the lowest point of bar 40, your order would have been executed by bar 43 and could have been closed by bars 43 or even 46 with 1 MM.

Bar 51 represented an unclear bullish entry, although it rebounded quickly.

The likelihood of success was lower as it was the first time the price fell below the 20-period exponential moving average (EMA20), suggesting potential failure.
A micro wedge downtrend with three downward pushes indicated a probable return to the upper trend channel boundary.
On the left, the market exhibited a bullish trend, making a direct reversal challenging; thus, forming a trading range was more likely.

Therefore, initiating a long position at the peak of bar 50 could see a 1 MM target achieved by bar 52 (a 2 MM was not reached at 51 with 1-2 ticks less).

Between bars 53 and 61, an endless pullback was observed, and a trading range progressively developed, particularly after witnessing the reversal between bars 61 and 62. If you long at 62, your exit could be reached at 69(the top of 52).

GC and SIL

My trading approach for these two highly correlated assets to the DXY was not effective. Given their correlation, using DXY as an indicator isn't ideal for intraday trading, as it doesn't reflect short-term fluctuations well. A swing trading strategy spanning multiple days might be more suitable. However, my current platform restricts me to intraday trading only, which limits this approach. I would stop trading these for a while.

CL

Crude oil previously formed a distinct downtrend wedge over the past few weeks and last week it shifted into a trading range, suggesting a potential trend reversal.

The market opened with a bullish gap, and notably, the sixth bar was a significant surprise bar for bulls. A strategic entry point would be the midpoint of the 6 bar, which could be executed in the 7 bar.

The breakout and subsequent testing of the upper channel line from a higher time frame occurred swiftly and decisively at bars 15 and 19 (with bar 20 also being bullish). If aiming for a 1 MM, your target would likely be achieved by bar 27.

It’s important to note that there isn’t a clear take-profit (TP) point at bar 27, increasing the likelihood that reaching a 2 MM could be feasible.

An additional opportunity to go long could be at the peak of bar 27, with an entry likely at bar 29. The two measure move (2 MM) target could then be successfully reached by bar 61.