Trading Plan for Friday, May 10th, 2024 Market Sentiment: Bullish, but with a cautious undertone after a significant multi-day rally. Expect potential profit-taking and a reduction in aggressive buying activity. A period of consolidation is highly likely. Key Supports Immediate Supports: 5235-37, 5228, 5209 (major), 5203 (major) Major Supports: 5177-79...
Last week ES reversed the downtrend and immediately looks bullish. I'm confident buying lows with defined stops. Watch for these 2 potential ideas in the week ahead. Thanks
Last weeks levels provided to be partly actionable and price has immediately responded (See attached post). Comfortable holding this 50% long position with stop/target untouched. Will be looking for opportunities to buy the other 50% and increase risk as I'm confident in the bullish sentiment after last weeks Feds statement. I hold an underlying belief that the...
Going over the price action Overnight ES looking for clues as to how to trade the morning session. We are lowering risk Day 6 uptrend
The structure on Thursday in the S&P 500 daily chart implies the possibility of a strong close on Friday as we go into the weekend. Ideally would be a close above 5260 to 5265
Going over todays price action. looking for clues to what the market was telling us and reflecting on our trades and what we could have done better.
ES has just opened and I believe we could continue up to truly close the 2HR FVG at 5257. So far we are making continuous bullish candlestick patterns. If we can maintain support at 5234, we can test the upside before retracing back down to 5220.
I think we will go back down and test the 4960 area. We have broken the short term Up angle today in one swoop. RED UMVD has appeared after divergence as well. FED Day today - get ready for some serious moves.
ES has broken above a bearish ascending wedge pattern on the 4hr. It failed to sustain above yesterday, but has recovered today so far. If it manages to keep going, I'll be looking to long on any pullbacks that tap the top end of the wedge.
Bullish count on left, bearish count on right. Lots of gymnastics on the left, but it is still just a series of impulse waves up, with key higher low pivots held. There are different ways to interpret these impulse waves collectively, and the one I have chosen would get one complete impulse wave off low of 4963.50 to happen the quickest. Key price support at...
I'd expect ES to be relatively flat after we didn't get much of a reaction to jobless claims. It's been chopping for several days and I have no reason to believe it will break today, but if it does breakout here are some paths.
Trading Plan for Thursday, May 9th, 2024 Market Sentiment: Bullish, but with increasing uncertainty as the market enters a consolidation phase. Expect choppy trading within a defined range. Prioritize patience and focus on level-to-level scalping for small gains. Key Supports Immediate Supports: 5203, 5194 (major) Major Supports: 5177 (major), 5155 (major),...
BLUE SKIES Would you have believed it If you were told a year ago. When every expert was predicting a recession. (which will come of course but when no one is expecting it ) So the conditions are set for a melt up I believe #Bitcoin bottoms very shortly maybe this week or next (grab some bitcoin miners!) ENJOY THE NEXT few months! #CNBC will trumpeting SOFT...
Market Observations: The S&P 500 futures NYSE:ES and S&P 500 ETF AMEX:SPY have consolidated with low volume over the past two days. Trading Strategy: Given the current range-bound price action, I am not actively seeking trades around the 5200-5210 level. Instead, I am looking for a breakout from this range accompanied by increased volume to establish a...
Going over the price action overnight ES looking for clues as to what the market is telling us and thinking about our trade plan for the day.
Secondo la view del Trader professionista, le quotazioni del future su S&P 500 sono da mantenersi ad un livello di 5.220 punti. In questo caso, il primo obiettivo dei compratori potrebbe essere localizzato a 5.275 punti, mentre un target più ambizioso in area di massimi a 5.320 punti. Si continua a ruotare attorno a quest'area: le zone alte di vendita sono in area...
The structure in the S&P 500 for the last couple of days is actually a neutral zone trade which implies a sideways move however the structure on Wednesday implies a bias for moved to the upside on Thursday.