Thursday, December 11, 2014

December 11th ES Trade Plan and Levels

Hey everyone,
Yesterdays bearish scenario played out. We had good early rotation was our 1st support zone back into value. As said yesterday we would have needed a perfect setup down around the 34 zone to take a long give the bearish context at that point and as we saw that level failed on 2nd test. Price didnt quite reach our next zone at 19-21 which would have been an automatic long. Great job if you managed to get short into the 34 area and take a few points long off of the 1st test of 44.

So on to today....
Our Bull bear zone is at 33-35.Buyers will need to push above here to test yesterdays value at our 1st resistance zone at 45-47, where i would expect to see sellers step in on first test. Above this we have 57-59 where we have an open gap and i would expect this to gap selling if reached today.

Below out bull bear zone we have first support at 21-19. This is a key area for buyers to defend as if they dont then we could see a value transition to 1998 over the coming days. Intraday however i dont expect us to liquidate to 1998 and we could see buyers step in at any of the 10-12 or 06-04 zones.

Happy trading!

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