ES day Price Action REview 4-25-24going over the day's price action looking for clues to how we could have traded today better. lots of action today from a series of reports at 8:30 to auctions to earnings after hours GOOGL MSFT INTC 05:45by BobbyS8130
PCE next!The PCE numbers coming out on Friday can set the tone for the S&P 500 not only for Friday's action but week as well. How the market will respond is 50-50.02:05by DanGramza2
Trends in conflict; Earnings Likely to cause a short reboundSo again, I cashed out my trade just above 5000 as we fell last night following the Israel drone strike against Iran. Most of that dip appears to have resolved itself, at least for the moment, but those geopolitical issues will likely be crucial to the potential of a market fall in the coming days. I go into it in the video, but major Earnings are next week, and I expect the week to be typical which means we will rebound during the Earnings season, especially next week with major powerhouses reporting (Microsoft, Google, Tesla). If NVidia was reporting I'd suggest we could rise back up towards 5300, but they are not until the end of May. Trends into today are; Last Macro Trend Signal Spots (ES Contract) 30m - 5040 Downtrend (4/18/2024) Lower High 1Hr - 5220 Downtrend (4/12/2024) Lower Low 2Hr - 5203 Downtrend (4/12/2024) Lower Low 3Hr - 5197 Downtrend (4/4/2024) Lower Low 4Hr - 5197 Downtrend (4/4/2024) Lower Low 6Hr - 5250 Downtrend (4/2/2024) Higher Low 12Hr - 5204 Downtrend (4/4/2024) Higher Low Daily - 5166 Downtrend (4/12/2023) Higher Low Weekly - 4769 Uptrend (12/11/2023) Higher High Monthly - 5304 Uptrend (03/31/2024) Higher High This shows lots of downward pressure, although several of the trends are a bit oversold as the 30m has managed to run away with the market. Economic Calendar; Nothing important today or the start of next week. GDP is next Thursday though and CPE is Friday. If I was to express some sentiment it would be Shorter Term - Neutral/Bearish Short Term - Neutral Medium Term - Neutral/Bullish Long Term - Neutral Longer Term - Bullish ... if the above makes any sense! Oh, and yes, I still have those Soy contracts. They are worth a whopping $1200 after all this time. I may trade them in for some 6E contracts if I see that look like it could run back up to 1.10 any time soon. Safe trading, and remember your risk management! Safe trading, and remember your risk management!Long12:31by SemperTraderUpdated 224
ES UpdateMFI already oversold, but RSI is not. Considering ES has an open gap below, I recommend waiting. It's my birthday tomorrow, so not opening any trades today, good luck. BTW, this is why I keep saying earnings are crap shoots, lots of people got burned pumping for META (FB) earnings. MSFT and GOOGL AH today, but both gapped down last time.by hungry_hippoUpdated 337
Setup 2024Test test and test...more text to satisfy TV. This is just the latest indicator setup.by TradeApe0
Overnight & Morning SEssion Review ES 4-25-24going over the Overnight and morning session looking for clues as to what the market is telling us and how we should be positioning ourselves. always remember we don't want complainers and whiners in our lives. get them out. 03:47by BobbyS8130
Volume Profile Structural AnalysisGuide to Structural Market Analysis Using Volume Profile Introduction: Here's a systematic approach to identifying market structure through Volume Profile Structural Analysis. By charting key levels on a higher time frame and refining entry/exit points on a lower time frame, traders can discern potential market movements and adapt their strategies accordingly. Step 1: Chart Markup on a Daily Time Frame Profile Configuration : Set up your Volume Profile in TradingView (Visible Range Profile) to encompass the full range of visible price action on the daily chart. This will capture the broad market structure, encompassing long-term HVNs and LVNs. Identify Node Delineations : Mark horizontal lines at the edges of HVNs (Volume nodes) with a clear transition to lower volume, signifying support and resistance levels. Mark Deep Crevices: Place horizontal lines at deep crevices within LVNs (Volume Wells), indicating areas where prices may trend rapidly due to low volume, where the price will likely pause/pass/reject. Color Coding : Assign distinct colors to the lines marking major nodes for easy recognition when zooming into smaller time frames. Step 2: Zooming into Intraday Time Frames (1-15 Minutes) Visual Reference : Use the lines drawn from the daily chart as a reference point in the intraday time frame to assess short-term price action. Recognize Patterns : Observe how the price interacts with these pre-marked levels. Note areas where price consolidates (within HVNs) and where it trends (through LVNs). Price Action Scenarios : Create potential movement scenarios based on the current trend, support, resistance lines, and expected behavior at HVN and LVN levels. Step 3: Trade Planning and Execution Consolidation Plays : In HVN areas, plan for non-directional or mean-reversion trades that capitalize on price stability and low volatility. Breakout Trades : When the price approaches the edge of an HVN, prepare for potential breakout trades, anticipating a move into and through the adjacent LVN. Momentum Trades : As price enters an LVN, consider momentum-based strategies that align with the rapid movement towards the next area of high volume. Step 4: Trade Management Dynamic Adjustments : Actively manage trades based on real-time price action and structural changes. Be prepared to adjust stops and take profits as price interacts with marked levels. Volume Profile Updates : Regularly update the Volume Profile to reflect recent market activity, which may reveal new HVNs and LVNs, and adjust marked levels accordingly. Step 5: Review and Reflect Post-Trade Analysis : After trades are completed, review the accuracy of your structural analysis and how well price respected the HVN and LVN levels. Continuous Learning : Use this review process to refine your marking approach and color-coding system for improved clarity in future trading sessions. Conclusion : Using Volume Profile for structural market analysis allows a strategic understanding of potential price movement. By identifying high and low-volume areas from a macro perspective and zooming in to capture nuances in the price action, traders can craft informed and adaptive strategies that resonate with the underlying market dynamics. The guide emphasizes the importance of planning, execution, and post-analysis in the context of structural market analysis, promoting a disciplined yet flexible trading approach.by traderofoptions0
Trading Plan for Thursday, April 25th, 2024Trading Plan for Thursday, April 25th, 2024 Market Sentiment: Uncertain, with bulls maintaining short-term control. Key Supports Immediate Supports: 5088-92 (major), 5082, 5077 (major), 5067 Major Supports: 5054-57 (major), 5033-36 (major), 5005-10 (major), 4966 (major) Key Resistances Near-term Resistance: 5104 (major), 5115-20 (major), 5133-36 (major), 5171-75 (major) Major Resistances: 5191 (major), 5225, 5240-45 (major) Trading Strategy Trading the Chop Zone: The 5088-5115 range is currently a choppy, congested zone. Exercise caution with overtrading and consider sniping within the zone over chasing direction. Long Opportunities: Look for failed breakdowns at 5088-92 or 5077. After earnings, focus on bids cautiously within the range, prioritizing the knife-catch protocol for deeper longs at major levels. Short Opportunities: Look for backtests of 5115 or the major 5171-75 zone if reached. Given earnings, a breakout of the current flag pattern is possible and could be considered, but use caution. Profit-Taking: With Meta earnings, use level-to-level profit-taking on any position. Bull Case Holding Support: Defending the current bull flag structure (5088-5115) is critical. Look for a base building within this range or a breakout. Reclaiming Resistances: Bulls need to push above the 5133-36/5155 zone for a potential run to the next major target, 5171-75. Bear Case Breakdown Signals: A convincing break below 5077 triggers the downside move. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 25th, 2024 Earnings Releases Meta Earnings: Reports weak revenue guidance, drops 16%.Longby spytradingpro1
ESES looking like profit taking about to happen. Up at monthly pivot coincides with Q as well.Shortby patricktapperUpdated 0
ES - Run On BuystopsCapitulation begun from last Thursday and if you was short throughout the beginning of this week, you would be sure to have booked a healthy piece of that explosive movement. Not one day passed where ES printed bullish on the daily timeframe after last Thursday’s high @ 5257.50. Fridays bearish sell off was met by bullish resistance at the Jan 31 2024 daily bullish order block which shows that there’s signs that a retracement is in the cards. With very little sellside imbalance buyside inefficiencies, that leaves ES with a potential bullish run upto 5120, over 100 handles if we was to reach the nearest imbalance in price action. With the dollar selling off and YM shifting in market structure after sellstops was taken, this intermarket relationship would aid my bullish bias. However, I am awaiting accumulation coupled with manipulation before the big news announcements on Tuesday. So Monday, I’d like to see a continued short term sell off before running intraday buystops, creating a bullish breaker. My philosophy is simple... Fortify Michael J Huddlestone's concepts that I have studied to consistently predict where the market is more likely to go. This includes; - Market Structure - Buyside/Sellside Liquidity - Order Blocks - Liquidity Voids - Fair Value Gaps - Optimal Trade Entry - Premium/Discount Array - SIBI/BISI - Many More! The strategies mentioned here are some of many that I use to implement into my analysis and over time, with consistency I aim to achieve a high degree of accuracy in the markets with the foresight and understanding to assess what went wrong when my bias is negated. Credits; - Michael Joe HUDDLESTONE - Shawn Lee POWELL - Toray KORTANLongby LegendSinceUpdated 1
Can buyers return?Buyers came into the S&P 500 late in the session on Wednesday with the lower opening in Asia. Can buyers return to move prices higher to drive the market back to Wednesday highs and that is the expectation.01:28by DanGramza3
ES1! evening updateWorking primary count has impulse wave from ATH at 5333.50 to 4963.50. Area in orange ellipse is suspect, so if this count doesn't play out, will likely need to go back and tease out this price action. Corrective bounce off low of 4963.50 appears to be an ABC zigzag. Looking for another impulse wave to complete a C wave or a 3 wave.by discobiscuit0
ES Day price Action Review 4-24-24going over price action for the day Wednesday April 24th looking for clues to what the market is telling us. trying to put together the entire big picture to form our plan and take the right trades being on the right side of the market.06:10by BobbyS8130
Market Recap: Did I Predict The Week On Sunday... AGAINIt sure seems that way. 5126 was the level where buyers would become sellers. It took sellers to become buyers in the first half of the week. Now, I think the market is weakened. Pre-market analysis will be key for trading in the next couple of days. Not a ton of setups today but, just enough to keep the degens going :D02:43by JoeRodTrades0
ES UpdateI said yesterday that it would get overbought today and go down. Well, here we are. Made a little money with puts like I said I would. Indicators now neutral, META earnings probably dictates gap direction tomorrow. Just gonna stay cash and take potshots at the market with options. I'm guessing MFI will cycle fast like it did a a couple of weeks ago, just waiting for the next opportunityby hungry_hippoUpdated 229
Morning Price Action REview ESGoing over the morning/lunch hours price action looking for clues as to what the market is telling us. 04:05by BobbyS8130
ES UpdateLooks like it'll hit overbought on MFI and/or RSI tomorrow, have an exit plan.by hungry_hippoUpdated 1112
HOW MANY TIMES DO I NEED TO SCREAM 6 1 8?HOW MANY TIMES DO I NEED TO SCREAM 6 1 8?? Short off the PRE MARKET HIGH it's all in PLAIN sight! Never chasing always LOOKING FOR PREMIUM entries OVER 1k in profits SHORT when others BUY and hunt deals! I will PAY IT FORWARD by tradingwarzone225
Trading Plan for Wednesday, April 24th, 2024Trading Plan for Wednesday, April 24th, 2024 Market Sentiment: Uncertain, with bulls maintaining control after yesterday's rally but price action becoming more complex after a trend day. Key Supports Immediate Supports: 5095-5100 (major), 5082, 5076 (major), 5067 Major Supports: 5056 (major), 5047-45 (major), 5027 (major), 4996-5000, 4966 (major), 4945-49 (major) Key Resistances Near-term Resistance: 5120 (major), 5136 (major), 5171 (major), 5190 (major) Major Resistances: 5220 (major), 5246 (major) Trading Strategy Post-Trend Caution: After a significant move yesterday, be aware of complex price action and increased potential for traps. Prioritize caution over conviction. Long Opportunities: Due to the choppy nature of post-trend days, direct bids are less reliable. Consider bids with a failed breakdown at 5090 (after it's reclaimed) or on major supports (5056, 5046-45). Prioritize the knife-catch protocol for deeper longs. Short Opportunities: Look for backtests of 5136 and particularly 5171 for shorting. A breakdown below 5076 could open up downside targets, with level-to-level profit-taking. Risk Management: Scale back position sizing and be prepared to potentially take some losses while price discovery takes place. Bull Case Holding Support: Defending the 5045 zone is encouraging for bulls. Reclaiming Resistances: Bulls need to push above the 5120/5136 zone for a potential run to the next major target, 5171. Adding on Strength: Breaks and acceptance above 5095, within a bull flag pattern, could offer opportunities for adding to long positions. Observe closely to ensure it's not a backtest for a downside rejection. Bear Case Breakdown Signals: A convincing break below 5045 triggers the downside move, while a short-term failure of 5076 could lead to a dip. As always, be wary of traps – look for a bounce/failed breakdown first, then consider shorting with level-to-level profit-taking. News: Top Stories for April 24th, 2024 Economic Environment IMF Global Financial Stability Report highlights optimism and lingering risks. US Dollar's strength despite expectations of decline. Economic indicators: Focus on upcoming employment report, CPI report, and Bitcoin halving. Stock Market Updates S&P 500 performance: new highs followed by a downturn due to inflation concerns. Additional Market News Boeing's quarterly performance and supply chain stabilization. Reminder: The market is reacting to a mix of earnings reports, economic data, and the critical battle at the 5040 resistance. Prioritize risk management and adapt your trading strategy accordingly. Let me know if you'd like any changes!Longby spytradingpro1
MOrning Price Action Review ES 4-24-24going over the price action after yesterday's trend day. looking for clues and the plan for today's morning session.02:32by BobbyS8130
ESM2024 (S&P500) target hit, buyside at 5121 taken :)Out buyside target from yesterdays related analysis, ESM2024 5121, got in fact hit overnight :) Longby MintMarkets_Fx2
ESM2024 (S&P500) buyside taken, run to 5121 still in the cardsBuyside at 5095 has been taken. If we do not drop hard from here and the candles body on the 1h closes above 5102, we think that the next upside target will be 5021 in ESM2024. Longby MintMarkets_FxUpdated 3