Short BUDDY!!!Liquidity has been taken with a double top imo My confluences with the macd have triggered.. I’m short to the target price for the next 15-20hrs What are your thoughts? Trade safely my friends Shortby Dlphdavis0
ES Weekly Levels (May6-10)Here are my levels for the week. Same notes as NQ. I have been really busy outside trading so I have not been able to post many updates. I continue to trade these levels a few hours every morning. Treat the levels as as support, resistance or targets. The market is currently trading in a large consolidation pattern with large daily ranges. The levels noted are the one are I feel are the most important for the week. If a level breaks. Look for a move to the next level. SUMMARY ES posted a weekly gain of 0.58% after trading in a huge 130 pt range ES held previous week's high and moved above the 21/55 emas ES now only 3.22% of its ATH. R2 = LTF 786 Fib RT (5281) R1 = LTF 618 Fib RT (5188) S1 = 55 ema/ 21 ema (5125) S2 = 9 ema (5116) Bias has flipped bullish to sideways with move back above the 9/21/55 emas Compound corrective move down to the July 27th high & 200 SMA is still possible if price move back below the 2021 high. Limited week of econ data but many Fed heads speaking. Earnings continues with reports from growth stock including UBER, LYFT, SHOP, TTD, ABNB, MARA, RIVN, PLTR & CELH. Sell in May effect in play. RSI 52.53| VIX at 13.48 | 10 year 4.66% by WadeYendall1
Futures at resistance - 6hNot going to go into this too deeply but as you can see, we made a higher high on Friday and are currently hitting resistance at the upper extremity of the zig zag channel. Price has also been consolidating in a riding wedge pattern, which could mean we could soon see a move to the downside. It also appears that the inverse is happening with TVC:DXY where the price is finding support at the lower extremity of the zig zag channel. That’s all I have to say at this point. We’ll see if the buyers show up tomorrow to push S&P higher but I’d be cautious about being bullish with this setup in play. by ap7691
ES1!, weekend updateBull case on left, bear case on right. On the left, I think there are different ways to complete the move from 5333.50 to 4963.50, but for simplicity, I have just used a leading diagonal A, zigzag B, impulse wave C. From the low of 4963.50, it would appear that there are 4 distinct and overlapping impulse waves (with higher lows at 4991.25, 5022.25, and 5036.25), with the wave in orange longer than the waves in red and yellow. I don't see a way to turn these into a diagonal, so the implication would be there are at least three 1/2's lined up, and that we are waiting for a correction wave to finish above 5154.25 to show us where the first 3 is. On the right, I have the move down from 5333.50 to 4963.50 as one impulse wave, with a leading/contracting diagonal 1. For the presumed correction off of 4963.50, I see a series of five ABCs (first is zigzag, second is zigzag with leading diagonal A, third is zigzag, fourth is expanded flat, fifth is expanded flat). These ABCs are obviously overlapping, but I do not see how they can be turned into a diagonal, as the proposed 3 would be shorter than 1 but then 5 would be longer than 3 or 2 would be longer than 4, depending on how you draw it up. Therefore, I think the most appropriate way to see it would be a triple-three WXYXZ that is nearing or at completion. Of note, this proposed corrective wave would be finishing in the .5-.618 retracement area, standard for a wave 2 or a wave B. In either case, I think we'll know early next week which idea will pan out.by discobiscuit1
NFP conclusionAfter watching the action at Non Farm Payroll. I noticed 3 key PD Arrays that could allow ES to move back into ATHs. Should move fast 1) Mitigation block 1H TF Apr 22 2) Breaker block at the spike of FOMC an May 1 3) 1h FVG created from NFP news release on May 3 The only thing that would confirm my thesis would be a gap up on Sunday open Longby StavrosK0
E-MINI S&P 500 FUTURE SHORT TRADE IDEA.IMPULSE AND CORRECTION: looking to catch a short trade at the mitigation of the 1hr time frame supply zone.Shortby korency1
E MINI S&P 500 FUTURE SHORT TERM LONG TRADE IDFEAThe overall momentum of the market from the monthly timeframe is bullish. now we're having a minor retracement for a day trading long opportunity. also looking to catch a short trade opportunity when price get's to the right zone in order to realign with the monthly timeframe flip zone for a longer term long opportunity.Longby korency0
S&P 500 Re-Accumulation SchematicThe number of short contracts (6055K) are more than the longs (3635K), however this doesn't cause an equivalent price drop. This is called absorption. The "composite man" is collecting the contracts, but not introducing them back to the market in order to sell higher. Meaningful volume spikes with no meaningful effects are signs of manipulation. Longby simplestupid0
Small range on MondayAlthough there was a strong move on Friday, a small positive up range is expected for Monday in the S&P 500.02:07by DanGramza4
NFP Price Action Review ES 5-3-24Going over the price action for the NFP report. looking for clues as to what the market is telling us. always remember we are risk managers. do your homework and go over all your trades this weekend. weekend is a time to refine your strategy and your mind. 03:58by BobbyS8130
ES1! afternoon updateFor ES1! bears, I'm looking at a double-three correction from low of 4963.50, with an expanded flat Y, to complete below 5194.25. For the flat, 3 is shorter than 1, so 5 needs to finish below 5194.25. As such, this count is invalid with price above 5194.25. Price is currently between .5 and .618 Fibonacci price points on the correction, so bears are definitely entering here.by discobiscuit1
Weekly /ES could be forshadowing a much stronger marketI was looking at /ES on the weekly because things were looking interesting on the lower time frame charts I spend more time on. Low and behold and this chart is looking like it could be setting up for much higher prices. The recent down move gave us some rebalancing off of the crazy run we have had since late last year and the last two weeks seem to be showing us a bottom may be in for now. Price touched the 21 EMA a couple weeks ago during that OTFD but the last two weeks have been bullish and we are trying to close at the highs again this week. One concern is that we are approaching a long term Weekly trendline (shown in White) so that may provide some resistance but if we break through and hold you can see where some of the fib extensions go. I'd be looking to long the close if we hold at or near the highs with a stop below 5015 and targets of 5320, 5410, and 5550. Best of luck in your trading!Longby NOBSForex0
ES UpdateNot overbought yet. Looks like Monday will be a pump and dump day. I guess I should have more faith in the market that they'll find a way to pump AAPL on bad earnings, lol. Not feeling very bullish because earnings didn't justify valuation, and my favorite stock, PCAR, is still dropping, lol.by hungry_hippoUpdated 6
Trading Plan for Friday, May 3rd, 2024Trading Plan for Friday, May 3rd, 2024 Market Sentiment: Bulls maintaining a tentative lead ahead of multiple high-impact market events (Apple Earnings and Jobs Report). Expect extreme volatility and plan accordingly. Key Supports Immediate Supports: 5068 (major), 5054 (major trendline - note this level rises daily) Major Supports: 5028 (major), 5001 (major) Key Resistances Near-term Resistance: 5081 (major), 5102 (major), 5116 (major), 5136 (major) Major Resistances: 5155-58 (major), 5191 (major), 5208 (major) Trading Strategy Earnings and Jobs Volatility: Be prepared for unpredictable, potentially violent price swings triggered by the Apple earnings release (4:30 PM EST) and the jobs report (8:30 AM EST). Prioritize reacting to price action over anticipating. Capital Preservation: Adopt a cautious approach and consider reducing position sizes or even sitting out the immediate volatility. Focus on protecting your gains from today's squeeze. Long Opportunities: Due to the heightened risk, avoid direct bids at support. Prioritize failed breakdowns with flushes and reclaims for safer long entries. In the event of a deep flush, consider knife-catches at major supports (5028, 5001). Short Opportunities: Look for back-tests of 5116 and 5136 for shorts, but only if markets exhibit a strong negative reaction to earnings or positive jobs data. Proceed with extreme caution. Focus on Levels: Use the provided support and resistance levels to guide your decisions, regardless of the volatility. Pay close attention to failed breakdowns and setups, as they will be the most reliable in this environment. Bull Case Holding Support: Defending the 5054-50 support zone remains crucial. Reclaiming Resistances: Bulls need to push above the 5081 resistance zone after any potential sell-off on events, working back towards 5116, then 5136 for further confirmation and a potential sustained breakout. Bear Case Breakdown Signals: A convincing break below 5054-50 initiates the downside move. Watch for bounces/failed breakdowns for potential short entries. Be mindful of whipsaws and traps around major events. News: Top Stories for May 3rd, 2024 Impact of Monetary Policies: U.S. Monetary Policy and Global Markets: Contractionary policy affects global financial conditions through various channels. Responses to U.S. Policy Shifts: Tightening policy induces global deleveraging and affects asset prices and credit flows. Emerging Markets' Sensitivity: EMs experience volatility and capital outflows due to U.S. policy changes. Transmission Mechanisms: Policy changes influence dollar-denominated assets, global credit conditions, and bank behavior. Long-Term Implications: Global Trade Outlook: Modest rebound in 2024 challenged by interest rates, demand fluctuations, and geopolitical tensions. Manufacturing Sector Performance: Continued uncertainty with challenges like labor shortages and supply chain disruptions. Advances in Digital Manufacturing: Adoption of digital twins and smart tech enhances operational efficiencies. Geopolitical Impact on Trade: Persistent tensions disrupt global trade, highlighting vulnerability of supply chains to political instability.Longby spytradingpro0
ES1! morning updateWatching UVIX break through its low of $8.37 this morning gives me confidence that market top is not in. The most bullish scenario now would see four separate impulse waves (in blue ellipses) since low of 4963.50. Pivots at 5022.25 and 5036.25 were both technical, bouncing off .618 fib levels. Bulls need to advance above 5200 with continued impulsive action, and if so, this count will most likely play out to ATHs later this month.by discobiscuit1
NFP Trading #ES #NQThis video goes over tactics and strategies on how to trade on NFP day for ES and NQ. 06:58by LiquidityTrackerUpdated 1
Lean /Prep/Lotto Friday ES Trade Plan Inflection: 5082 Upper lvls: 5099-5109 / 5125-5127 / 5137 / 5153 Lower lvls: 5072-5074 / 5036 / 5005 NQ Trade Plan Inflection: 17632 Upper lvls: 17776 / 17818-17838 / 17871 / 17901-17937 / 18063 Lower lvls: 17564-17573 / 17482 / 17356-17370 Stay Frosty!Long13:35by Beyond_Charts0
Non Farm Payroll Gameplan BullishI am bullish on NFP and expect prices to drift sideways the whole night up until 6-8am until 08:30 when NFP will release. It should dump down only for it to be bought back up and continue on to new highs. I will show the last NFP's and show how all of them were bullish. April March February January December November October September August July NFP June NFP May NFP As you can see, the past 12 NFP's have all been bullish and had higher prices. Only a few actually sold off later on in NY session. The vast majority have all grinded higher. I will expect the same for May 3rd 2024Longby travis18haneyUpdated 3
ES Price Action REview 4-2-24 and morning review 4-3-24We are reviewing price action from yesterday and this morning. going over the clues the market left and how we could have traded the day better. 07:25by BobbyS8130
May 3rd S&P 500 bullishthe price needs to go back up to test the high. this is election year, and the stock market will keep climbing.Longby Seanpatel310
Buying momentum into the weekend?Can the buyers that appeared in the S&P 500 on Thursday continue its momentum up with a stronger close on Friday. This could be a challenge with the softer opening in the Asia session.01:45by DanGramza2