Hello everyone! This October I begin my TopStepTrader Micro combine! TradingView is my documentation system so Like and Follow my journey!
ES has maintained its down trending posture and lending way to lower prices but currently exists in a somewhat balanced state between technical levels 3700 and 3500. This area could prove to be difficult, so I’m not particularly excited about the week ahead -
SHORT TRADES ONLY given the context of the downtrend!
1 - Breakdown of 3600 with a pullback to retest before moving lower to 3500 2 - Straight down - If ES moves below 3500 with conviction, we could see lower prices in a hurry. I’ll be looking for sharp bounces to short in this scenario/. 3 - Bullish move to 3700 and consolidation to begin accepting higher price
Last week gave us a decent short opportunity Wednesday. Be on the lookout for others in the middle of this week, although it’s unlikely they are as technically ‘juicy’.
Waiting on TradingViews BlackFriday deals to optimize charting. Stay tuned!
KingCharlesTrader - 10 years as ES swing trader by night. Web Developer by day.
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Scenario 3 is playing out with a dramatic bullish shift which I believe will be short lived. Watching for breakdowns with pullbacks to enter short
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Couldn't update idea from mobile, see comment below. Entry yesterday Short 1 MES @3784.25
Trade closed manually
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Closed Friday EOD. TST account not yet active, working with support through some issues.
With the plan at the beginning of the week to watch for shorts, and price consolidating at the high of the wedge, shorts were preferred and price cooperated to validate the idea by providing the pullback. Fully valid trade. Short 1 /mes 3784.25