October 21st - 7:30am
*Before reading this trade plan, IF, you did not read yesterdays, or the Weekly Trade Plan take the time to read it first! (You can see both posts in the related publication section) *
If my posts provide quality information that has helped you with your trading journey. Feel free to boost it for others to find and learn, also!
My daily trade plan and real-time notes that I post are intended for myself to easily be able to go back and review my plan and how I did from an execution perspective.
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Our overnight high is 6784 and overnight low is 6763. Very tight range that should resolve higher today. Ideally, we can get a pull back to the 6750 area and reclaim 6758, 6763. Any price action below 6763 and a quick reclaim would be bullish. IF, price does clear 6784 we could get to 6791, 6800 as first targets and 6812 being a heavy resistance area. IF, price clears then fall back inside the overnight range, we could then lose the 6770, 6763 level and would not want to see price lose 6738 or we may need to retest 6703 area which has been tested a ton over the week and it is also the bull/bear line, I have been discussing since last week.
Key Levels Today:
1. Loss of 6770 and reclaim
2. Loss of 6763 and reclaim (Potentially down to 6758)
3. Loss of 6750 and reclaim
Price below 6738 and we will probably need to retest the 6703 level.
We have to remain bullish with price above 6695
Key Support Levels - 6770, 6763, 6750, 6738, 6712, 6703, 6695
Key Resistance Levels - 6784, 6797, 6807, 6812, 6815, 6827, 6836, 6851
I will post an update around 10am EST.
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Couple of things about how I color code my levels.
1. Purple shows the weekly Low
2. Red shows the current overnight session High/Low (time of post)
3. Blue shows the previous day's session Low (also other previous day's lows)
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White shows the trendline from the August lows
*Before reading this trade plan, IF, you did not read yesterdays, or the Weekly Trade Plan take the time to read it first! (You can see both posts in the related publication section) *
If my posts provide quality information that has helped you with your trading journey. Feel free to boost it for others to find and learn, also!
My daily trade plan and real-time notes that I post are intended for myself to easily be able to go back and review my plan and how I did from an execution perspective.
----------------------------------------------------------------------------------------------------------------
Our overnight high is 6784 and overnight low is 6763. Very tight range that should resolve higher today. Ideally, we can get a pull back to the 6750 area and reclaim 6758, 6763. Any price action below 6763 and a quick reclaim would be bullish. IF, price does clear 6784 we could get to 6791, 6800 as first targets and 6812 being a heavy resistance area. IF, price clears then fall back inside the overnight range, we could then lose the 6770, 6763 level and would not want to see price lose 6738 or we may need to retest 6703 area which has been tested a ton over the week and it is also the bull/bear line, I have been discussing since last week.
Key Levels Today:
1. Loss of 6770 and reclaim
2. Loss of 6763 and reclaim (Potentially down to 6758)
3. Loss of 6750 and reclaim
Price below 6738 and we will probably need to retest the 6703 level.
We have to remain bullish with price above 6695
Key Support Levels - 6770, 6763, 6750, 6738, 6712, 6703, 6695
Key Resistance Levels - 6784, 6797, 6807, 6812, 6815, 6827, 6836, 6851
I will post an update around 10am EST.
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Couple of things about how I color code my levels.
1. Purple shows the weekly Low
2. Red shows the current overnight session High/Low (time of post)
3. Blue shows the previous day's session Low (also other previous day's lows)
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White shows the trendline from the August lows
Note
9:38am - UpdateI took a position at 6770 with looking to sell 1/2 position at 6777 and leaving runner at 6772. IF, price loses 6768, we will need to look at 6763 for potential next level.
Note
9:42am - Update I was able to sell at 6777, but my runner stopped out and now we are losing 6768. Be patient and wait for 6763 to flush and reclaim. To be safe, you could wait for the reclaim of 6768 as that needs to clear if we are going to move higher. I still think we might need to flush 6750 area and reclaim of 6758 would be actionable.
Note
10:22am - UpdatePrice flushed to 6759 and reclaimed 6763. I took a position on the reclaim of 6763 and just sold 1/2 position at 6774 and have a runner with a stop at 6770. We should test 6784 and then potentially back test 6778 level. This is my last trade of the day.
Note
10:28am - UpdatePrice just took out my 6770 runner. That is me done for the day. We should continue higher, but the loss of 6763 would not be good and we would need to look at 6750 level as the last level of the day that I planned for. Since I am profitable on 2 trades for the day. Best for me to take the rest of the day off, instead of gambling and trying to get every move of the day. I will try and post an update early afternoon based on where price action is at that time.
Note
1pm EST - UpdateWe have had this sideways action over the past 2 days between 6750-6790. Last time we had this time of range above 6742 we ended up flushing lower. While, I still have to refer to the trend which is bullish, a loss of 6740-6750 will most likely produce a decent pull back. The white trendline we broke back above Friday around the 6695 and back tested and moved higher, is the same trendline that 6750 area is looking to hold for a 3x since we broke above it. IF, 6738 fails, I would expect a sharp pullback to at least 6695 or lower. I will send out the daily trade plan tonight, IF, price loses 6750 this afternoon. IF, not I will wait until we see what price does overnight.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.