Wednesday, February 18, 2015

Wednesday 18th Levels and Trade plan


Today we will be using 88-90 as our Bull Bear zone, Above here Bulls are still in control and should retest 95.50-97.50 where we would need an intraday setup to short. ES found value at highs yesterday so a break of 97.50 would lead us into the 02.25-04 and 06.75-07.75 Resistance. Where we should look for signals intraday to short, as there is no hard resistance a blind short is not really an option we must have some confluence up there.

Bellow 88 ES should retest 85.50-83.50 where we would need to see a strong intraday setup to long as this is the 3rd test. A break below here would see us test 77.75-75.75 where id expect to see buyers on first test.

FOMC minutes are out later today so id expect some two sided action before these minutes are released.

Happy trading.

1 comment:

  1. BB and Resistance contained the entire day's trading w/ FOMC. Very well done, thanks for your analysis and review