Wednesday, February 25, 2015

Tuesday Trade Recap


Yesterdays trade plan called for caution shorting above the 02.25-03.50 Bull Bear and  above this area bulls were in control. With a potential 16-18 target for a bullish breakout.

There were two opportunity's to get long in yesterdays price action. The first was the dip down to 03.5-02.25 with the internals showing no real momentum shift on this down move and as the plan was to get long as long as this held, this exhaustion type move into the BB was a perfect long opportunity. As long as ES momentum held to the upside and the profile stayed imbalanced to the upside then the 16-18 target was on the cards.

Therefore another long on a pull back to res turned support was the ideal play. As long as price pulled back below the value on the day and into the new found support a long could have been executed around 07.25-07.00 targeting 16-18. We also got an exhaustion signal on the internals on this pullback.

As it was ES HOD was 15.75.

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