Monday, December 8, 2014

The Return of The Humboldt Trade Blog and Daily Levels

Welcome Back guys and gals.

After a few months away from the blog I've decided to come and post these levels and trade plans once again. A quick reminder that this is of course for educational purposes only.

Now that that's out of the way lets look at today's /ES_F Plan.

SO! Friday finished the day balanced after failing to break below Thursdays Value at around 2070.25 and established value at higher levels. Today we have the bull bear zone at 74.25 to 76.50. Below this we could get a push down into some of the support zones and id expect to at least test that 67.5 to 65.50 zone at some point today. As this area is the long term value of this current range buyers will have to defend this to avoid a small liquidation move back to the 55.50 to 57.50 area where id expect buyers on the first test. Below this we have 52.25 to 50.25 which is a automatic buy for me in most circumstances as we have  an open gap and would be very well extended down there on the day time frame.

On the upside,if buyers are active at the first support zone or if ES break cleanly through the bull bear zone upside targets are at 85.50 and 87.50 to 89.50. With the limited amount of Econ today i don't really expect ES to trade above these levels today so may look for shorts up there.

Happy Trading.

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