Hey traders!
Prices were rallying up during the night. After the opening, we saw some downtrend working lower. That trend broke and prices retested the lows with a couple of legs. After the downtrend played out prices spiked up and formed a spike and channel structure. Then the yellow range followed for the remaining day. The failed break higher caused a huge sell-off and prices went lower shortly before the close.
Hope you had a good trading day.
![](https://toppicktrading.com/wp-content/uploads/2023/02/ES-03-23-2000-Tick-2023_02_02-14_07_38-1024x351.png)