(1) Posted this /ES chart on the twitter feed today (see tweet at the bottom of this post). Some textbook examples to help you with understanding price action. The chart was prior to the open of regular trading hours.
This chart was from 4 hours after the open. Price broke-out above the 4455 bull/bear line mentioned in the tweet and then rallied strongly.
Below is my tweet from this morning.
(2) On Friday the TSLA hourly chart below gave a clue that price might be looking to rally on Monday. The question on Friday was what should have been happening within the 673.70-681.55 range (yellow box)? Price should have been moving lower to attempt a new low below 667.59 (2). Why? The 8-hour SMA bands had been sloping down which should’ve led to lower prices. Instead, price moved sideways which allowed for the bands to turn up! When what should happen doesn’t happen, expect the opposite reaction!
