Weekly Plan ES Futures - Week Of 5/27Weekly plan: ESH2024 NYSE:ES FUTURES 5/20/2024 5349 >> 5395 >>> 5439 Weekly pivot: 5308, Now 5333. Weekly Open 5322 5269>> 5216 >>> 517304:16by dhjesus1
O DTE trade on /ES today-5270 +5255 / -5340 +5360 Huge fees on ES,$5 per leg, buying 2 contracts each leg to get premium over $100. Could close early later today, or just let this play out. Deltas are low atm: -5270 +5255 / -5340 +5360by leongabanUpdated 0
SP500**SP500:** New all time high at 5369. The forecast is for the price to descend to the bottom of the channel and rise to make new all time highs.Shortby simaoxceps0
ES to ATH!We can see How beautifuly -D OHLC manipulation is overlapping with discount + Old Low. THOSE TARGETS?? -D OHLC Distribution + 1/3ADR + 1/3AWR and mosr recent one + manipulation D OHLCLongby Keclikk1
#202422 - a weekly price action market recap and outlook - sp500Good Evening and I hope you are well. sp500 e-mini futures Quote from last week: bull case: Bulls have every argument on their side for printing higher prices. Bears created 1 bear bar in 11 days and Friday closed 1 point below the daily high. That is as clear of a buy signal as it can get. At the minimum they want to retest 5349 but if bears step aside enough, we will melt right through for much higher prices. As of right now, the weekly chart printed an obvious double top but to confirm that, bears would need a strong sell-off next week. If bears will not get it, the big bull trend line pointing to 5450-5500 is the next magnet. comment: So I posted my weekly chart, which is obviously not pretty and you should not trade on that. It’s to have a rough outlook and calculate targets on higher time frames. And currently I have two bullish third leg targets (bigger and smaller tf trends) at 5560. Those are rare but I would not bet my house on those, just because they are rare and it’s nice when a bigger and smaller trend align. Like stars, you know. Anyway. Still holding the possibility that bears surprise the bulls and drop hard below 5250 again to trap em. If bulls continue and melt above 5370, it’s reasonable that the next targets are the obvious bull trend line around 5500 and my calculated targets are around 5560. current market cycle: trading range until new ath with follow through or drop below 5000 key levels: 5250 - 5370 bull case: Bulls have not touched the daily 20ema for 13 trading days. They are in full control and have all the odds on their side. Bears need to break below the ema to change that. The sell-off on Thursday was strong enough to make at least some bulls doubt another leg up. Friday’s bar only tested the breakout level 5330 and was an inside bar. On weekly/monthly time frames it still looks as bullish as can be. However, I gave my reasoning above why I’d for more confirmation above 5330. If you buy here, you could be buying right at the top of a trading range we have been forming for 4 months. So, I’m very bullish if we print big bull bars and break above 5370 with follow through. Bulls invalidation price is around 5250 for me. bear case: Bears still have the argument that this was a higher high double top on low volume. If they can produce consecutive bear bars below 5250, it’s reasonable to assume that most bulls will cover longs and would look to buy much lower again, possibly around 5000. If bears fail to keep this below 5370, bulls will board the rocket to 5500 and higher. Keep in mind, we are above alomost all bull trend lines, far above the weekly ema, have not touched the daily ema in 13 days and if you still doubt this is as bullish as it get’s, look at weekly/monthly charts. Everyone knows this rally makes no sense from a valuations perspective but that does not matter. Price is truth. outlook last week: “Slightly bearish - Retest of ath or 5330 expected before we should see more sideways to down price action. If bears are reasonably strong, we should see 5260 or 5200. Invalid above 5350 with follow through.” → Last Sunday we traded 5349 and now we are at 5321. We saw another smaller higher high 5368 and the low of the week was 5273. I’d say those targets were pretty freaking perfect. You are welcome. short term: Absolutely neutral until we see a breakout. Got a huge bear reversal on Thursday and a bull inside bar afterwards. I wait. Bullish above 5370 and bearish below 5270. medium-long term: Trading Range until 5000 is clearly broken and has turned resistance. If bulls can break strongly above 5350, it’s obviously a continuation of the bull trend and my next target would be 5500/5560. current swing trade: Small short position from 5329, SL is 5345. Chart update: Please read comment section aboveby priceactiontds0
MES - Potential For some MM TargetsWaiting to see if we get the level to risk off, Waiting for some real US market Momentum Monday likely to lack follow through until US openLongby AgedvagabondUpdated 1
MES HL MTR or 2nd Leg MM UpAcross the board on US Indices, Lots of sympathy for a major trend reversal, or a 2nd leg up. Good probability. Bit late on post.Longby AgedvagabondUpdated 0
Small Account Challenge - SPY and IWM - Day 10 Journal UpdateA quick recap of this week's action and my progress on the $50k challenge.06:26by AdvancedPlays0
SP500 E-Min - Monthly Chart - 25 May 2024Here is a monthly chart, with my forecast of where price may go. I'd wait for a pullback before i would then look to long. Long02:12by TraderRiz0
Overreaction on ThursdayAfter the overreaction by the S&P 500 to the fundamental news Fridays bounce back to the upside in the S&P 500 is logical. The issue now is will buyers follow through in the shortened session on Monday.03:48by DanGramza3
S&P500 - Clues to BUYThe S&P 500 is my favorite market to trade however my strategy struggles when price enters All Time Highs by design. I tend to try and hold positions into ATH's and beyond but this recent uptrend has proven too aggressive for my entries (See attached ideas). Last weeks close is a very subtle clue about institutional intention to buy this market. My intuition says S&P500 is likely to move higher and start the price exploratory process between 5600 - 5350. This is a common process pattern through the summer months observed historically (institutional investors allocate before leaving for summer vacation maybe?) Unfortunately, it also means any trades for me have reduced odds until price clearly defines levels that provide my strategy an edge. As price explores above, I'll be mindful of quick tests of support. I personally would not be comfortable with any swing long entries above 5290, which seems unlikely. From a day trade perspective, 5325 should provided good support and I doubt price trades below it for very long. Time/Price analysis indicates 5600 is a good level to watch for exhaustion of this push. 5185 and 5510 could offer some setups. Daily closes below 5300 invalidates this idea. Any trades related to this idea in the weeks to come will be posted below. Likes and Follows are appreciatedLongby GrayTrader01Updated 1
Trading Plan for Friday, May 24th, 2024Trading Plan for Friday, May 24th, 2024 Market Sentiment: Uncertain, as the market has transitioned from a rally to a short-term dip. Bulls are attempting to defend key supports, while bears are looking for further downside continuation. Key Supports Immediate Supports: 5265 (major), 5253 (major) Major Supports: 5230-35 (major), 5202 (major), 5177 (major) Key Resistances Near-term Resistance: 5293 (major), 5302 (major) Major Resistances: 5317 (major), 5380 (major), 5400 (major) Trading Strategy Post-Rally Dip: The market is now in a short-term dip after a prolonged rally. Exercise caution and avoid chasing longs or shorts. Long Opportunities: Look for a bounce and reclaim above 5274 for potential long entries. Consider failed breakdowns at 5265 or a dip and reclaim at 5230-35 for more aggressive long entries. Short Opportunities: Consider shorts at 5317 (if the market rallies strongly) or on failed breakdowns below 5265 after a bounce/retest. Exercise caution and take profits level-to-level. Focus on Reactions and Price Discovery: Wait for confirmation signals and clear reactions at key levels before committing to any trades. Bull Case Defending Support: Bulls need to defend the 5265-72 zone to prevent further downside and maintain the possibility of a bounce. Reclaiming Resistances: If bulls reclaim the 5293 and 5302 levels, the dip could be considered over, opening up a potential move towards the previous highs. Bear Case Breakdown Signals: A convincing break below 5265 could trigger further selling, targeting 5230-35 and potentially deeper levels. Look for bounces/failed breakdowns at these levels for potential short entries. News: Top Stories for May 24th, 2024 📈 U.S. Durable Goods Orders: The latest data shows an unexpected increase in April, suggesting resilience in manufacturing despite economic headwinds. 🌍 Geopolitical Tensions and Their Economic Impacts: Recent surveys indicate that geopolitical risks are a top concern for global family offices, with significant implications for asset allocations in North America and Asia Pacific. 🛡️ Shifts in Safe Haven Assets: In an environment of growing debt concerns, investors are increasingly turning to gold over traditional government bonds, marking a significant shift in safe haven preferences. 🌎 Climate Change and Economic Impact: A session at the 10th World Water Forum highlighted the severe economic repercussions of climate change and water scarcity in Laos, underscoring the urgent need for sustainable water management solutions. 📊 Global PMI Data Releases: The release of the S&P Global Services and Manufacturing PMI reports provides critical insights into the economic conditions of the services and manufacturing sectors, which are key indicators of overall economic health.Longby spytradingpro1
#ES_F Day Trading Prep Week 5.19 - 5.24Last Week : Last week Market opened under the VAL of this 5368 - 5207 HTF Range with our Sellers being in Value/VAL and Cost Basis/Supports at the lower Edge. We spent few days consolidating between VAL and the Edge with a move on Tuesday that first failed to hold under 5230s pre market and then afternoon push over VAL trapping the shorts under Value. Wednesday data brought in Volume and market continued higher through next Key Area putting the squeeze on and pushing us in/through VAH, from there one more target was left to test the Edge and see if we push through it and accept or we get a response in opposite direction, discussed last week before the tag that first tests of these bigger HTF areas often provide good response in opposite direction which gave us a tag/ supply build under Edge and a move back to VAH with Friday closing the week with filling the buyers with that Supply around VAH. This Week : Few things we know so far going into this week, of course depending where we will open and what we do in Globex but for now we are inside 5341 - 5290 Intraday Range, we are inside T2 Range with buyers in/under VAH and Trapped Supply/Sellers still could be over 30s and closer to the Edge Bottom of 5348. So far it looks like market has chosen 5368 - 5207 to be our HTF Range going forward until we will be ready to move out of it again which tells me we may spend time balancing around it back and forth while we distribute and fill orders as we will have buying and selling in it from Trapped Shorts and Trapped Longs/New Longs who will be looking for continuation out of this Range. For us to see continuation higher out of this HTF Range we would need to either build a base under the Edge bottom or see a strong bid through it trapping more sellers under AND start balancing over 5256 - 52 area without coming back in, until then holding under the Edge will mean weakness BUT it doesn't mean we will just sell back down that easily as well, we have to consider that we are at ATH with no overhang above us and no real Volume built up here just yet that would give us stronger moves lower. With that in mind there is a chance that we might spend some time in and around this current Intraday Range of 5341 - 5290.25 building that Supply. As been mentioned over last few weeks, have to be careful of smaller ranges and quicker/smaller moves, especially now that we might have both sides starting to be trapped and looking to be trading in and out of their size around here. IF Volume does come in and we accept back inside the Value and start holding under VAH we could see a move all the way back towards VAL to fill in the buyers in those areas, our Size Shorts would be trapped in Value and under VAL where we could expect absorption if we get there but careful as it could take time there as well. IF we don't get the Volume to push us through the above Edge or the Volume to give us acceptance and continuation under 5295.50 - 90.25 Key Support then we could spend quite some time around this 5341 - 5290 Intraday Range with pushes out of it being bought or sold back inside it. Levels to Watch : Current Range 5341 - 5290.25 5341 - 36 Key Resistance 5324.75 - 20.75 // 5310.50 - 06.50 Means for the Range 5295.50 - 90.25 Key Support If we are to just balance around this intraday range then we could see pushes out of the Means towards Key Areas and then returns back towards/into the Means, this is what I will be watching for unless it shows acceptance under/over Key Areas. If Accept over 5341 - 36 next Range 5386.50 - 5336 5356 - 52 // 5370.50 - 66.50 Means and Edge Top 5386.50 - 81.50 Key Resistance If Accept under 5295.50 - 90.25 5279.25 - 75.25 // 5264.75 - 60.75 Means and VAL 5249.75 - 44.75 Key Support by HollowMnUpdated 1
Price Action Review ES 5-23-24 what happened?going over yesterday's sell off. many traders wanted to quit but dont quit. reflect. grow. We need days like yesterday to dial in our trade management. Trade Management is every traders #1 Responsibility. its NOT making profit. its learning how to manage our positions. 02:59by BobbyS8130
ES short levelWE have a lot of confluences that we will go lower! ADR + M15 SIBI (Sellside Imbalance Buyside Inefficiency) + Range Deviations!!Shortby Keclikk4
TRACKING IPDA 20 40 60 RANGE5/23 - The IPDA range can be used to track and anticipate the quarterly shifts in the market. as of today 5/23 the ES has made a new breaking the projected 40 60 day highs . It is reasonable to expect the markets to drop to the 20 40 60 day lows over the next 3 months. by dclemens5610
Not looking for another big day downI am now looking for another big day down on Friday in the S&P 500. I think the market overreacted to the news they came out on Thursday.03:07by DanGramza2
2024-05-23 - a daily price action after hour update - sp500 Good Evening and I hope you are well. sp500 e-mini futures comment: Uber important trading day tomorrow. Bears need to bring their A game and trap bulls below 5300. If they manage to do so, we will close the week at the lows and get a huge sell signal going into next week. current market cycle: trading range key levels: 5270 - 5368. Below 5270 is 5220 and then 5200. bull case: Globex printed 2 bear bars in 23 15m bars. Market then got a second leg up to a new ath 5368.25. The sell-off caught many bulls off guard and never let them out if they bought the highs. Bulls need to quickly trade back above 5300 and then 5320 or they risk that more bulls will exit their long positions going into the weekend. Invalid below 5260. bear case: 5260 was around my measured move target, which we will very likely hit tomorrow. The real question is then if bulls can make 5250-5260 resistance or will we crash to 5200 and into the weekend? My preferred path is drawn on the chart. Invalid above 5320 short term: Bearish. This weekly close will be important. The closer bears could get it to last weeks close 5216, the better for them, going into next week. medium-long term: Bearish. We will see 5000 over the next weeks again and 4600 over the next 12 months. —unchanged trade of the day: Long since Globex on very strong buying to 5368 but market then went on and endless pullback and never let bulls out who bought high and that fueled the violent move down today. Shortby priceactiontds1
further price reductionIt seems that due to the maintenance of conditions by the Federal Reserve, the possibility of further price reduction is possibleShortby forkman110
Lord Medz live trade 23 May 2024Maximizing Evaluation Account Success with MNQ Trading: A Live Session Review Welcome Traders! In today's post, I'm diving into the world of live trading on the Micro E-mini Nasdaq-100 Futures (MNQ) using the Smart Money Concept (SMC). I'll be reviewing a recent live trading session aimed at maximizing evaluation account funding opportunities. Whether you're new to trading or an experienced trader looking to hone your skills, this session offers valuable insights into the MNQ market. Why I Trade MNQ with Smart Money Concepts The MNQ is a popular choice for many traders due to its lower margin requirements and the ability to scale positions with smaller contract sizes. By incorporating Smart Money Concepts, I can better understand market movements driven by institutional players, allowing for more informed and strategic trading decisions. Live Trading Session Highlights In my latest live trading video, I focused on the following key SMC strategies and setups: Market Structure Analysis: Identifying key swing highs and lows to determine market structure (bullish, bearish, or ranging). Using price action to confirm shifts in market structure and potential trend reversals. Marking areas of liquidity such as previous day highs/lows and significant support/resistance levels. Order Blocks: Recognizing institutional order blocks that signal potential areas of smart money entry. Placing trades at order blocks with tight stop-losses just beyond these zones to minimize risk. Observing the reaction at these order blocks to confirm the presence of institutional activity. Liquidity Pools: Identifying liquidity pools where stop-losses are likely clustered (e.g., above resistance or below support levels). Anticipating potential stop hunts by smart money to trigger these liquidity pools before reversing price direction. Entering trades after stop hunts to align with smart money movements. Fair Value Gaps (FVG): Spotting imbalances in the market where price moved too quickly, leaving a gap. Trading around these gaps as price often returns to fill them, providing entry opportunities. Using these gaps to set precise entry and exit points based on anticipated price movements. Risk Management: Maintaining a risk-reward ratio of at least 1:2 for each trade. Implementing trailing stops to protect profits as trades move in my favor. Ensuring no more than 1-2% of the trading account is risked per trade to preserve capital. Results and Takeaways By the end of the live session, I successfully executed several trades, demonstrating the effectiveness of these SMC strategies in real-time market conditions. Here are some key takeaways: Patience and Discipline: Waiting for the right setups and not forcing trades is crucial. This approach reduces the likelihood of unnecessary losses. Adaptability: Markets can be unpredictable. Being flexible and ready to adapt to changing conditions can improve trading outcomes. Continuous Learning: Each trading session offers new lessons. Reviewing trades and refining strategies is an ongoing process that enhances skill and performance. Getting Funded Evaluation Accounts My primary goal with these live sessions is to help traders secure funded evaluation accounts. Here’s how you can apply these strategies to achieve that: Practice Consistently: Use a demo account to practice the strategies highlighted in my sessions. Consistent practice builds confidence and proficiency. Follow Evaluation Rules: Adhere strictly to the rules set by funding programs. This often includes maintaining a specific profit target, maximum drawdown, and adhering to daily loss limits. Stay Educated: Continuously educate yourself through trading courses, webinars, and live trading sessions. Knowledge is power in the trading world. Watch the Live Trading Video To see these strategies in action and gain a deeper understanding of my approach, watch my latest live trading video on MNQ. Click the link below to watch now and start your journey towards securing a funded evaluation account: Watch Live Trading Video on MNQ Happy Trading! Stay tuned for more trading tips, strategies, and live session reviews. If you have any questions or topics you'd like me to cover, feel free to reach out. By focusing on Smart Money Concepts and risk management, this post aims to provide traders with the tools and confidence needed to succeed in evaluation account programs.09:19by Skinwah0
Over Night Price action REview ES 5-23-24going over the price action overnight looking for clues to what the market is telling us. NVDA another blow out report. NVDA is the stud of 2024 for sure. focused on NVDA and the AI sector. 01:09by BobbyS8130
Where is the S&P Target on Breakout?E-mini S&P (June) / E-mini NQ (June) S&P, yesterday’s close: Settled at 5328.00, down 17.25 NQ, yesterday’s close: Settled at 18,786.75, down 12.50 All eyes were on NVDA’s earnings report yesterday, but the E-mini NQ was already up more than 7% on the month. Despite that strength and a new record high, price action became stagnant in the week leading into this report. So much so that momentum and breadth began showing signs of exhaustion. A beat and raise from the market’s most powerful engine has revved indices, slinging the E-mini S&P and E-mini NQ further into fresh record territory and confirming what began a week ago: a breakout above the March high. If the E-mini S&P and E-mini NQ were about to embark on a new bull leg, it is imperative for our first major three-star support levels, aligning with yesterday’s settlement, to hold. Furthermore, the E-mini S&P tested what we have had as rare major four-star support through the FOMC Minutes and again upon NVDA’s release. This level was also tested and held last Friday and brings a line in the sand defining the next bull leg at 5303.25-5308.50. So, where to next? Two weeks ago, we wrote here that we believed the market began to confirm a bottom was created in April and through the first couple of days of May. We also expressed our upside target for this wave aligns multiple technical indicators with a Fibonacci retracement and a 10% run to 5459.75-5474.25. Today, we will use this moment to reiterate this target. Bias: Bullish Resistance: 5365.50-5370.50*, 5391.75**, 5400-5420.25***, 5459.75-5474.25*** Pivot: 5349 Support: 5343.25-5345.25**, 5334-5336.75**, 5328***, 5319.50**, 5303.25-5308.50**** NQ (June) Resistance: 18,977**, 19,085***, 19,319*** Pivot: 18,891 Support: 18,786-18,825****, 18,715-18,732**, 18,678-18,691***, 18,620-18,635**** *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. by Blue_Line_Futures0
Prep and Lean ES/SPX/SMCIScenario #2 in play from Daily PLAN: (LINK BELOW) Scenario 2: Neutral open if between 5340-5350. But if we open below 5334, then I think 5340-5350 may present resistance, if tested, for a target of 5316-5320. ES Trade Plan Inflection: 5331-5332 Upper lvls: 5345 / 5368 / 5377 Lower lvls: 5304 / 5292-5296 NQ Trade Plan Inflection: 18786 Upper lvls: 18812 / 18964 / 19143 Lower lvls: 18730 / 18671-18677 / 18643 / 18483-18510 Stay Frosty! Long08:03by Beyond_Charts0