Friday, January 2, 2015

Friday January 2nd ES Levels and Trade Plan

Morning Traders,

Here are today's levels and plan.

We will be using 49.50-51.50 as todays Bull Bear zone. This was a previous support area from new december 31st which capped the selling on the day time frame. If buyers are to give up this level then the below support zones will come into play. The first one we have is, 41.75-43.75 of which we would need to see a strong setup to buy on 1st test. Higher Time Frame Traders may want to see ES at the 33-35 zone and this would be a buy on first test if all lines up in real time. If ES gets below 33 then we could see liquidation into 20-22.50.

On the upside, if ES holds above todays bull bear zone, Our first resistance is at 66.25-68.25 although this has been tested during globex so we would need a good setup here. Then we have 72.50-74.50 which sellers would need to hold to remain in firm control, if they cannot then buyers will be in firm control and ES could see 85.50-87.50 once again.

Happy trading.

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