ES - October 24th - Daily Trade PlanOctober 24th - 6:35am
*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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Yesterday, I stated "IF price can reclaim 6751 area, we should back test to the 6768-70 level. Above 6750 and bulls are back in control. My general lean is that we need to at least retest 6717 level and reclaim we should get a few quick points. IF price loses 6717, we most likely retest the 6695 level and 6674, 6653 are 2 main levels I would be looking for a flush and reclaim to grab points."
We dropped to 6719, cleared 6726 (Which was a strong support level as you can see on the 15min chart overnight at 8pm a massive institutional candle that held 6717 support) and we came back down, grabbed liquidity and then rallied into 6750 resistance, sold off to retest that level and we rallied all day and overnight.
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Overnight low is 6777 and overnight high is 6798. We have tested this 6798 level 2x overnight and we should get a pull back and then clear on next attempt. We have CPI at 8:30am. While price should hold 6777 and continue higher, we have rallied nearly 100pts into a big data event and we need to be cautious as it could get volatile.
Key Levels Today -
1. Loss of 6784 and reclaim
2. Loss of 6774-77 and reclaim
3. Loss of 6763 and reclaim
4. Loss of 6758 (maybe as low as 6750) and reclaim
IF price really sells off, the loss of 6742 (maybe as low as 6736) and reclaim would be a good spot. Ideal area would be loss of 6720 and reclaim.
We have to view price action as bullish until the trend changes. That would need a loss of 6695 to change that structure. Short term, we need to hold 6750 with 6726 being the lowest or we could flush to 6690-95.
Key Support Levels - 6784, 6777, 6774, 6763, 6750, 6744, 6726, 6720, 6711, 6793, 6690
Key Resistance Levels - 6798, 6807, 6812, 6815, 6822, 6827, 6836
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
Trade ideas
ES (SPX, SPY) Analysis, Key Levels, Setups for Fri (Oct 24)ES Two-Way Plan (A++) — Level-KZ 15/5/1
Calendar (ET) — Fri Oct 24:
08:30 CPI (Sept).
09:45 S&P Global flash Manufacturing/Services PMIs.
10:00 Univ. of Michigan Consumer Sentiment (final).
14:00 Federal Reserve Board open meeting.
Expect compression into 08:30 → expansion on release; execute inside NY AM 09:30–11:00 and PM 13:30–16:00 only.
Bias & overnight→NY forecast:
Into CPI, lean range-bound 6,770–6,787. A clean hold above the “weak-high” pocket should squeeze toward the 1.272–1.618 extension band; failure back inside favors a drift to the breakout shelves below. Treat the first post-CPI impulse as discovery; take the next confirmed 15m/5m/1m sequence only.
Setups - Level-KZ execution (15m→5m→1m)
1) Short Rejection Fade @ 6,785–6,787 (W3): 15m rejection closes back inside → 5m re-close below ~6,783.5 with LH → enter first 1m pullback that stalls beneath the shelf.
SL: above the 15m rejection wick ±0.25–0.50.
TP1: 6,776–6,777. TP2: 6,759–6,762. TP3: 6,739–6,744.
2) Long Acceptance Continuation > 6,797 (W3): 15m full-body close above 6,797 → 5m pullback holds/re-closes → 1m HL entry.
SL: below the 15m trigger/pullback wick ±0.25–0.50.
TP1: 6,818 (1.618). TP2: 6,830–6,835.
3) Long Quick-Reclaim Bounce @ 6,759–6,762 (W2): fast flush into the shelf → instant reclaim (15m wick, 5m re-close back above) → 1m HL entry.
SL: below the 15m flush wick ±0.25–0.50.
TP1: 6,776–6,777. TP2: 6,785–6,787.
4) Short Acceptance Breakdown < 6,759 (W2): 15m body-through below 6,759 → 5m confirms → 1m LH entry.
SL: above 15m trigger wick ±0.25–0.50.
TP1: 6,739–6,744. TP2: 6,720–6,725.
Day 55 — Trading Only S&P Futures | +$452 | Rested and FocusRecap & Trades
Day 55 — I finally caught up on sleep last night and it made a huge difference.
Woke up focused, saw the bullish structure signal early, and just stayed on the long side all session.
Didn’t fight the trend, didn’t short — just stayed in BTD mode and let the system do the heavy lifting.
Ended the day +$452 and feeling great.
Lesson & Mindset
When you’re rested, you make better decisions.
Sleep sharpens reaction time, patience, and emotional control — all critical traits for traders.
Don’t underestimate rest as part of your trading system.
News & Levels
Today’s main headline: Bank reserves dropped below $3 trillion for the second week straight.
That’s a macro factor to watch — tighter liquidity can ripple into equities soon.
Tomorrow’s levels: Above 6760 bullish, below 6735 bearish.
ES UpdateAlgos going for the pump and dump again.
If CPI numbers are good, we're gonna see a mega pump tomorrow to hit the tip of the wedge formation. I've seen that happen a lot. If they're bad, then we gonna finally fill that gap below next week.
No idea which way it will go. 8:30am tomorrow. Delayed release of Sept numbers. I also expect MFI to get overbought tomorrow in either scenario.
S&P 500 E-mini: Testing Upper Channel Resistance – Potential ShoThe S&P 500 E-mini is approaching the upper boundary of a rising channel on the 1-hour chart, facing resistance near 6,762.50. The MACD is showing bearish momentum with red histogram bars, indicating weakening buying pressure. Price action suggests a potential short opportunity if the resistance holds, targeting a move back toward the channel’s midline support around 6,700. Watch for confirmation before entering.
NQ & ES Premarket Comment Thursday 23-10-2025Good morning everyone,
Today the market is sitting in a balanced zone — we’re essentially in equilibrium. This means that price action could develop in either direction, and we need to stay open to both scenarios. It might initiate a move higher or lower, or simply oscillate within a defined range — a classic “ping-pong” session.
As the session opens, if we see price sweep the previous day’s low, that could offer a potential long setup. Conversely, if we get a strong impulse to the upside early on, we can start looking for potential short opportunities afterward.
What happens in the first few minutes after the open will be critical today — it should give us clarity on directional intent. The key levels to watch are clearly marked on the chart.
If you don’t feel confident or the picture remains unclear, do nothing. Staying on the sidelines is a valid position on days like this.
Normally I provide live commentary during sessions like this, but today I won’t be doing so. Stay calm, disciplined, and aligned with your trading plan and risk parameters.
We’ll review everything in the afternoon update to see how the session played out.
PF
ES - October 23rd - Daily Trade PlanOctober 23rd - 7:05am
*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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I have been stating all week that "IF we lose 6750 we could flush lower. I also stated that we have to remain bullish price above 6695." I stated on the 9am note - "Be cautious today and get out the way if price does sell off below 6750".
What happened? We sold off down to 6690, reclaimed 6695 and bounced late afternoon and overnight into 6750 area. Our overnight high is 6751 and overnight low is 6717. We have 2 main levels that need to hold from the overnight session - 6717 & 6733.
IF price can reclaim 6751 area, we should back test to the 6768-70 level. Above 6750 and bulls are back in control. My general lean is that we need to at least retest 6717 level and reclaim we should get a few quick points. IF price loses 6717, we most likely retest the 6695 level and 6674, 6653 are 2 main levels I would be looking for a flush and reclaim to grab points.
Key Levels Today:
1. Loss of 6733 and reclaim
2. Loss of 6717 and reclaim
3. Loss of 6703 and reclaim
4. Loss of 6690 and reclaim
IF, price loses 6690, I would wait for 6674, 6653 and see IF price can react at one of those levels for a bounce back up the levels.
Key Support Levels - 6733, 6726, 6717, 6703, 6690, 6683, 6675, 6668, 6653
Key Resistance Levels - 6742, 6750, 6758, 6763, 6770
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
ES (SPX, SPY) Analysis, Key Levels, Setups for Thur (Oct 23)Bias: The market shows a neutral to slightly bullish outlook as long as prices remain above the 6739–6751 control band. A decisive break and sustained trading above 6780 would indicate a shift in momentum to the upside, targeting the levels of 6804 to 6812. Conversely, if we lose support at 6739, we could see a decline toward 6712, with 6691 serving as a key level that may attract selling pressure.
Execution windows: London 02:00–05:00 optional small size. NY AM 09:30–11:00 primary. NY PM 13:30–16:00 primary. Midday is manage-only; avoid initiating.
Setups
Short pop-and-fail at 6773–6780
– Trigger: 15m rejection back inside the band → 5m re-close below ~6773 → first 1m pullback stalls beneath 6773
– Entry: sell the pullback beneath 6773
– Stop: hard SL above the 15m rejection wick by 0.25–0.50
– Targets: TP1 6751, TP2 6739, TP3 6712
– Invalidation: 6780 converts to support on a full-body 15m close
Long breakout continuation above 6780
– Trigger: 15m full-body close beyond 6780 → 5m pullback holds 6777–6780 and re-closes up → 1m higher-low entry
– Entry: buy the hold at 6777–6780
– Stop: hard SL below the 15m trigger wick by 0.25–0.50
– Targets: TP1 6804, TP2 6812, TP3 6835–6850
Long sweep-and-reclaim at 6712 → 6691
– Trigger: quick sweep of 6712 (or flush toward 6691) that immediately reclaims 6712 on 5m → 1m higher-low entry
– Entry: buy first pullback after the reclaim of 6712
– Stop: hard SL below the 15m sweep wick by 0.25–0.50
– Targets: TP1 6739, TP2 6751, TP3 6773–6780
Day 54 — Trading Only S&P Futures | -$49 & Lessons on ExecutionRecap & Trades
Day 54 — the signals were spot-on today but my execution wasn’t.
I started with a bullish bias and kept trying to buy the dip when the structure was clearly bearish.
Got stopped out around 6714 for -$540, and the market bounced right after — classic.
Even so, the system nailed every call today — five for five accuracy.
Lesson & Mindset
The lesson is clear — you can have the perfect system, but if you don’t execute it perfectly, you can still lose.
Don’t let bias override data. Flexibility beats certainty every time.
News & Levels
Big headline today: Google announced a major quantum computing breakthrough with its new Willow chip — this could reshape the AI hardware landscape.
Tomorrow’s levels: Above 6760 bullish, below 6715 bearish.
NQ & ES After Hours Comment Wednesday 22-10-2025As anticipated, price played out exactly as outlined in this morning’s plan.
Notice the strong reaction and precision around the two purple levels — price initially dipped below the first line, found temporary support, bounced slightly, and then broke through. (I mentioned earlier that longs around the first level required caution — either to take quick profits or to move stops to breakeven early.)
From there, price continued lower toward the second purple line, where it finally encountered meaningful support. The downside move paused right at that level, creating conditions for potential long setups from here.
There was also a solid short opportunity in the ES earlier in the session, as NQ pushed higher and printed fresh intraday highs while ES lagged behind — a classic sign of divergence and potential reversal.
I hope you managed this move well and found the analysis insightful and actionable.
Back here tomorrow at 08:45 AM NY time (45 minutes ahead of the market open).
PF
Rising Volatility Signals Emerging Risks For EquitiesFor all the headlines about inflation risk, interest rate uncertainty, and geopolitical instability, the S&P 500 hasn’t flinched much lately. Price ranges have narrowed, option premiums have deflated since April, and market volatility metrics remain stuck near cycle lows.
However, short-dated MES weekly options expiring 24/October — typically more responsive to shifts in implied volatility (IV) — showed an upward shift in the IV smile early in the month, pointing to renewed demand for downside protection.
Source: CME QuikVol
Historical volatility remains below implied levels, leaving scope for realised volatility to rise to implied levels. Current options positioning suggests that the next volatility move is likely to emerge from downside risk.
Source: CME QuikVol
The Cboe Volatility Index (VIX), reflecting 30-day expected volatility in the S&P 500, drifted toward 15 and stayed compressed for over a month. While this appeared stable, volatility is inherently mean-reverting — especially amid macro uncertainty, geopolitical risks, and year-end positioning.
Economic data have not justified a hawkish Fed stance, and markets expect another rate cut at the 29 October meeting. Additional uncertainty stems from the government shutdown, which delayed the September CPI release and left investors without timely inflation guidance. This has amplified market sensitivity to new data and headlines.
Meanwhile, Fed officials have turned more dovish, shifting attention from inflation to signs of labour market weakness.
Source: CME FedWatch
So far, the uncertainty has not prompted a broad flight to safety. Although the VIX has risen almost 60% this month, the S&P 500’s decline was just 1.2% as of 17 October. Markets appear hesitant to reprice risk aggressively without confirmation from data or the Fed — a shift that could accelerate near the 24/October CPI release.
When Volatility Snaps Back
Historically, volatility spikes have also driven sharp corrections in equity futures. Since 2022, the average duration of a VIX rise regime is about 22 days, with a 7% average correction in equity futures during that period.
This trend offers multiple opportunities for traders. With a week left for key macro data to come out and almost two weeks left for the next Fed meeting, a short-term position to gain from volatility expansion could be expressed by deploying a straddle using CME’s E-mini S&P 500 (ES) weekly options.
However, with VIX already elevated and reaching 28 late last week, further upside from long volatility trades appears limited. In contrast, a short equity futures position could still benefit from additional downside as uncertainty pressures equities.
As of this analysis, VIX had been rising for 7 days, implying that IV could stay elevated for roughly another 15 days based on historical regime durations. Notably, the larger portion of S&P futures’ correction typically occurs during the latter half of this rising volatility phase.
The average correction over the latter 15-days is almost 7x more than that observed in the first week of rising IV. And given the 1.3% decline so far in this cycle, there is still room for realised volatility to catch up via an additional 2.7% correction.
As on 17/Oct, MES options expiring on 31/Oct serves to capture the remaining 15-day window. Concentrated activity across key strikes in this contract indicates that options traders are pricing in a potential decline of roughly 3% to 7.7% in equity futures.
Source: CME QuikStrike
In an expanding volatility regime, short S&P 500 futures offer an alternative way to express views on rising volatility. Straddles suit uncertain bias but require larger moves to overcome time decay. With expectations of further downside and higher realised volatility, short futures may be better aligned.
Historical Example
The inverse correlation between VIX and equity index futures supports a directional bias tied to IV expectations. Historical VIX spikes show extended periods of elevated IV, typically aligning with a 7% average drawdown in equity futures.
A strategy that trades in line with the prevailing volatility trend can exploit this pattern. Assuming IV remains elevated, equity futures generally experience their steepest declines during the later part of rising VIX regime. Across the last eight major IV spikes, this relationship has held consistently.
The following historical analysis examines a strategy that moves with the prevailing volatility trend. The approach assumes that implied volatility (IV) will remain elevated for an extended period, during which equity futures tend to decline more sharply. As shown in prior instances, this pattern held true across the last eight major IV spikes.
A short MES futures position initiated seven days after a VIX spike has historically produced strong returns.
For example, during the July 2024 volatility surge (highlighted in green above), entering short at 5600 on 18 July (7 days after VIX started to rise) and exiting 15 days later at 5247 on 5 August would have yielded a profit of (5600 – 5247) × $5 = $1,765.
However, the strategy is not consistently profitable. During the September 2023 episode (highlighted in yellow above), a similar short position entered at 4368 on 21/September and exited 15 days later at the same level would have produced no gain, underscoring that historical tendencies serve as context, not certainty.
Alternatively, if volatility stabilises and uncertainty eases, short positions could also underperform as equities resume their ascent.
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NQ & ES Premarket Comment Wednesday 22-10-2025NQ & ES Premarket Comment Wednesday 22-10-2025:
Good morning everyone,
Price remains at elevated levels, and for that reason, I believe a corrective move to the downside is likely before the market resumes its broader bullish trend. One of the key indications supporting this view is that the YM has broken above its all-time highs (ATH), while the NQ and ES have not — creating an SMT divergence, which often signals potential reversal conditions.
On the chart, two purple lines are clearly visible. I’ve divided and measured the candle structure in two different ways, resulting in two potential support zones. Once price moves below either of these, it could provide the momentum needed for a continuation higher.
The lower purple line represents the stronger support level, although the first one also remains a valid short-term zone of interest. Exercise caution with longs around the first support, as setups near the second level are likely to offer cleaner, higher-probability opportunities.
It’s not impossible that we may see a short opportunity develop before price reaches the support zones, but such a trade would be highly speculative and carries elevated risk. Until we get clearer confirmation, patience remains the best approach — let’s wait to see how the market reacts at support.
If neither of these scenarios unfolds, we simply stay on the sidelines, observe, and learn from the price action while maintaining discipline until our bias aligns with our model’s framework.
I’ll post an updated commentary in the afternoon.
Wishing everyone a productive trading session.
PF
Disclaimer: This analysis reflects personal market observations and is for educational purposes only. It does not constitute financial advice.
ES - October 22nd - Daily Trade PlanOctober 22nd - 6:45am
*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 6789 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 6789 we could get to 6797, 6807 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 - 6789, 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
Day 53 — Trading Only S&P Futures | +$59 & Market Still WeirdRecap & Trades
Day 53 — started the day catching clean plays off the X7 and DPBuy signals. Made some solid early gains, but later got stopped out after unexpected news from Trump hit the market.
Overall, I finished +$59 — small day, but still green. I’ve noticed the market feels a lot more unpredictable since that big Friday crash — tons of chop and odd gamma behavior.
Lesson & Mindset
The takeaway: stay adaptive and don’t overtrade uncertainty. This isn’t the time to push size — it’s time to stay patient and observe until the structure normalizes.
News & Levels
Big story today — Gold saw its largest single-day drop in 12 years, down over 5%. That’s massive.
Tomorrow’s levels: Above 6760 bullish, below 6715 bearish.
S&P 500 E Mini Futures (ES) Advance in Wave 5 RallyThe short-term Elliott Wave analysis for the S&P 500 E-Mini Futures (ES) indicates the Index is currently in the final leg of wave (5), originating from the April 2025 low, before a larger three-wave correction unfolds. The decline to 6540.5 marked the completion of wave (4), followed by an upward turn in wave (5), structured as an impulse Elliott Wave pattern. From the wave (4) low, wave ((i)) concluded at 6718.5, with a subsequent pullback in wave ((ii)) ending at 6593.25. The rally in wave ((iii)) peaked at 6722.5, followed by a dip in wave ((iv)) to 6666. The final wave ((v)) reached 6766.75, completing wave 1 in a higher degree.
The ensuing wave 2 correction developed as a double three Elliott Wave structure. From the wave 1 peak, wave ((w)) declined to 6651.5, followed by a wave ((x)) rally to 6750.5. The final wave ((y)) dropped to 6571.25, concluding wave 2. The Index has since resumed its upward trajectory in wave 3. In the near term, wave ((i)) of 3 is expected to conclude soon, followed by a corrective wave ((ii)) to retrace the cycle from the October 17 low before continuing higher. As long as the pivot at 6540.5 remains intact, expect pullbacks to find support in a 3, 7, or 11 swing, setting the stage for further gains.
ES (SPX, SPY) Analysis, Key Levels, Setups for Wed (Oct 22)Key catalysts and schedule (ET): The federal shutdown continues, pausing most government statistics. There is no 8:30am tier-1 macro release expected. The energy markets will receive the EIA Weekly Petroleum Status Report at 10:30am. Of particular note, the Fed’s Michael Barr is scheduled to speak during the U.S. day, a potential market-moving event. Earnings reports from AT&T, Thermo Fisher, Boston Scientific, and Vertiv before the open, and IBM after the close, could also sway the index mood.
Key zones — resistance: The 6,765–6,795 zone, serving as the weekly/daily supply and prior high-high band, remains a crucial area of focus. It is the first ceiling to consider. The 6,820–6,830 zone becomes an intraday magnet if we manage to hold above 6,795. The 6,840 stretch target is a significant level that requires time above 6,795 first. The 6,852–6,855 zone is a potential squeeze extension, but only if momentum persists beyond 6,840.
Key zones — support: 6,725–6,735 is the prior NY session high / POH pocket and first decision area on any overnight strength that fades; 6,701–6,705 is the 1h equilibrium and flip line for intraday bias; 6,685–6,690 is the intraday pullback shelf and first buyable dip if 6,701 briefly slips and reclaims; 6,655–6,665 is the 1h demand pocket that keeps the rebound credible; 6,604 is the deeper extension stack that only comes into play on risk-off.
Overnight → NY forecast: baseline expectation is a range build under the 6,765–6,795 ceiling with stop-runs into the band and fades back toward 6,735 and 6,705; acceptance and sustained holding above 6,795 turns the tape constructive toward 6,820–6,830, with a paced push to 6,840 and only a momentum extension opening 6,852–6,855; loss of 6,701 during Asia/London that does not quickly reclaim tilts the path toward 6,690 and 6,665 before buyers try again; if 6,665 gives way decisively, risk opens to 6,604 where a larger bounce attempt is favored.
Setups (Level-KZ Protocol, 15m→5m→1m)
Short fade at the 6,765–6,795 band on the first clean test: enter on a 15m close back inside the band and a 5m re-close with a lower-high; place SL above 6,805–6,810; target 6,735 for TP1, 6,705 for TP2, 6,690 for TP3; if TP1 prints, close 70% and set the 30% runner to BE.
Long continuation only after real acceptance above 6,795: wait for a 15m full-body close above, then buy the 5m pullback that holds 6,795–6,800; SL 6,785; target 6,820–6,830 for TP1, 6,840 for TP2, 6,852–6,855 for TP3.
Quick-reclaim bounce at 6,701–6,705: if we sweep 6,701 and instantly reclaim on 1m/5m, buy the reclaim with SL 6,695; target 6,735 for TP1, 6,771–6,780 for TP2, 6,795 test for TP3.
Deeper flush-and-reverse at 6,655–6,665: buy only on confirmation (15m wick-rejection + 5m higher-low); SL 6,649; target 6,690 for TP1, 6,705 for TP2, 6,735 for TP3.
Bear continuation only if 6,701 is lost and holds below: sell the underside retest of 6,701–6,705; SL 6,712; target 6,690 for TP1, 6,665 for TP2, 6,604 extension for TP3 if momentum expands.
Bias and invalidation: The market currently exhibits a ' two-sided bias ', meaning it is neither bullish nor bearish, while we are trapped between 6,705 and 6,795. The tape turns constructive for extensions only after holding above 6,795 for multiple 15m closes. The intraday bias flips lower if we slip and cannot reclaim 6,701 on 15m closes. Invalidate any long if 6,665 breaks and holds; invalidate any short if we base above 6,830 and the first pullback defends 6,820.
Kill-zones and execution plan: Asia (20:00–00:00 ET) is optional and sized down; look for the 6,701 sweep/reclaim; London (02:00–05:00 ET) favors range probes into 6,735 or 6,705; NY AM (09:30–11:00 ET) is primary — fade the first touch of 6,795 if we gap under it, or buy the 6,795 pullback if we gap and hold above; manage lunch as maintenance only (12:00–13:00 ET); NY PM (13:30–16:00 ET) allows a final push toward 6,840 only if 6,820–6,830 converts to a floor.
Risk and management rules (applied to all plays): use a hard stop anchored to the relevant 15m wick ±0.25–0.50; take no partials before TP1; at TP1 close 70% and move the runner to BE; allow no more than two attempts per level per session; time-stop any trade that hasn’t hit TP1 or SL within 45–60 minutes.
S&P 500 (ES1!): Wait For Valid Buy Setups!Welcome back to the Weekly Forex Forecast for the week of Oct. 20-24th.
In this video, we will analyze the following FX market: S&P 500 (ES1!)
The S&P500 is ranging. More neutral than bullish. But Friday's bullish close indicates potential bullish order flow going into this week.
If price can manage to trade above the Monthly Open at 6,725, than buys become valid.
I'm not interested in selling this market, unless I see a sure enough bearish BOS.
Enjoy!
May profits be upon you.
Leave any questions or comments in the comment section.
I appreciate any feedback from my viewers!
Like and/or subscribe if you want more accurate analysis.
Thank you so much!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
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ES UpdateMFI has been overbought for 2 days now. No idea what this is doing. I bought IWM puts when it went green, and I was looking at my computer thinking "sell off already", lol. It looked like the algos were trying to get RSI to overbought. Maybe they still will, NFLX doesn't faze the algos.
Even in a melt up, what "should" happen is that the market dips as the algos sell off. It's not acting the way I expect, so be careful shorting.
ES - October 21st - Daily Trade PlanOctober 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) *
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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






















