Monday, February 23, 2015

Monday 23rd Levels and Trade Plan

Morning all,

Today we will be using 99-01 as our Bull Bear Zone, If ES can hold above here then Bulls will be firmly in control and can continue the breakout to new all time highs and higher targets. We have 11.5-13.5, 17-18 and finally 25-27. All these resistance levels would need to see a perfect intraday setup to short as ES has no hard resistance up here and as we said, above the bull bear zone today es should see us continue to breakout.

If ES can get below 99-01 then we have support at 92.25-94.25 where id expect to see buying on first test. Below this we have 81-83 which could cap the selling if ES was to test down here.

Overall ES looks primed to continue its upwards momentum as long as we can hold above and we must be extremely cautious on the short side unless we see strong weakness at projected resistance areas.

Happy Trading.

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