Thursday, April 30, 2015

Trade Plan and Levels April 30th

Morning guys, 



Yesterday ES continued to consolidate within a balance area. The key numbers today are 00.5-02.50, and the battle that is won here may determine which way we eventually breakout. Holding above 02.50 would suggest that we can once again test up at 11-13 and if we were to short here we would need a good intraday setup. Above here ES can go on to test the ATH and then 25-27 both of which i would be cautious shorting unless we see some nice exhaustion on the day time frame. 

If ES can hold below 00.50 then we can test 88-90. With a directional move expected soon i would not be aggressive long at this zone. but i would be looking for several other confluences if i were to take a long position. This is a potentially good place to scale some shorts, holding some for a potential break out down to the 80.25-82.25 area where we could see buyers step in. Below here we have 73-75 which can also attract buyers on the day time frame. 

Remember a directional move out of this balance is a real possibility today or tomorrow so be cautious at zones around balance and potentially i will be looking to hold a portion of some trades for a bigger move. 

Happy Trading. 

Wednesday, April 29, 2015

Wednesday April 29th Levels and Trade Plan

Morning Guys,



Today we will be using 06-08 as out bull bear zone, this zone is key to todays trading as it really is the accepted value for the previous two days. If bulls can hold above here then we really can see new highs into FOMC and shorting above is really a viable option. 

However if Bears can take this below we have 92.75-64.75 support where we would need to see some intraday disconnect between price and internals to execute a long. Below here we have 80.25-82.25 where id expect to see buyers on first test in most scenarios. 

On the open if ES opens above 10 then we can see some strong buying most of the day. Below 10 we may chop into FOMC. 

Thanks. 

Tuesday, April 28, 2015

Trade Plan and Levels Tuesday 28th April 2015






Today we will be using 2106 - 2108 as our bull bear zone. Below here we have support at 2095-2093 and then 2082.25 - 2080.25. Es is likely to open within yesterdays RTH value area so i would expect buyers on first tests of both supports - note it is always the safer option to wait for a good intraday setup. If ES can break above the bull bear we have the ath at 2119.75. 2125-2127 is not a hard resistance and should opnly be used for a target if in a long position.

Happy Trading

Monday, April 27, 2015

Monday April 27th Trade Plan and Levels.

Morning,


As we know ES is most likely going to trade into ATH this week. So today we will be using the 10.50-12.50 area as our bull bear zone. If ES can stay above here then we will most likely head to above 17.75 ATH on the continuous contract and into 25-27 which is to be used more as a target then hard resistance.

If ES can break below 10.50 id expect a test of 03.25-05.25 where id expect to see buyers and if we get lower than this then expect 93-95 to see some buying on first test.

On the open if we open above 13 then we have to be even more cautious on the short side and look for aggressive longs at support.

Happy Trading

Friday, April 24, 2015

Friday April 24th Levels and Trade Plan

Morning,


Yesterday we saw ES break out of the 3 day balance. SO today we will be using the 03.25-05.25 area as out bull bear zone. If ES can stay above here then we can continue back into the 11-13 zone where we would need a perfect intraday setup to fade here given the bullish context above 05.25. Above 13 ES has no real hard resistance. The 17.75 number is the ATH on the continuous contract and then we have projected targets of 25-27.

If however ES fails to stay above 03.25 then we can go back and test 93-95 where id expect to see some buying on first test and also at 80.25-82.25 but i find this zone unlikely to be tested today.

Off the open if ES can open above 14 id be very cautious with any shorts, but in most other opening scenarios id expect some form of rotation from zones today.

Happy Trading.

Thursday, April 23, 2015

Thursday 23rd April Levels and Trade Plan

Morning,


Yesterday ES continued its 3 day balance area and stopped on the highs from tuesday.
Today we will be using 92.75-94.75 as out bull bear area. Above here ES can continue upwards and test 01-03 where we would need to see a good intraday setup to short here. I break above here could signal a breakout for ES and we can head up to 09-11 where we could see some selling on first test. If ES gets above 11 then there is no real hard resistance to play off.

If Es can trade below 92.75 then we could see a test of 80.25-82.25 where id expect to see some buyers on first test, below here we could test 73-75 also where id expect buyers to be active.

Off the open if ES opens and trades above 03 we should be cautious on the short side until we see good exhaustion. Otherwise we can look for setups at zones throughout the day.

Happy Trading.

Wednesday, April 22, 2015

Levels and Trade Plan Wednesday 22 April 2015





Today we will be using 90-92 as our bull bear zone. If ES can hold above this area we may see a continuation to the upside. Note the rapid sell off and retracement during globex - this may be percieved as a flushing of stops before a move higher. With this in mind selling resistance at 2100-2102 and 2103.75 - 2105.75 will require a perfect intraday setup. Below the bull bear we have support at 2082.50-2080.50 and 2075.25-2073.25.

It looks like ES will open within yesterdays value area giving a neutral context however we must be cautios after the sudden move down and up in globex.

Happy Trading

Tuesday, April 21, 2015

Tuesday April 21st Levels and Trade Plan

Good morning,


Overnight inventory is Bullish overall with a likely Gap up into RTH. Today we will be using 98-00 resistance to gauge a bias. If Es can open below here and test into 98-00 we will need to see a good intraday setup to go short. If ES can trade below here then we have 93.75-91.75 support where we could see buyers, then the gap at 91. Below here ES can liquidate down to 82.25-80.25.

Above we have 03.75-05.75 and 09-11 resistance where we will need to see a good intraday setup due to the bullish nature of ES if it reaches here.

On the open if ES opens above 96.50 then we should be cautious on the short side until we see a perfect short setup, and aggressive on long setups at support.

Happy Trading.

Monday, April 20, 2015

Monday 20th April Trade Plan and Levels

Mornings guys,


Today we will be using 73.75-75.75 as our bull bear zone, If ES can stay above here then we can test 81.75-83.75 where with a good intraday setup we may see shorts. If ES can Trade Above here in RTH we can see a total V reversal from fridays low and test 94.25-96.25 and 98-00, where id expect to see sellers.

If ES can trade below 73.75 in rth then id expect us to test 64-66 where we would need a good intraday setup to get long. Below here we could see ES Liquidate to 48-50 where id expect to see buyers.

Note, IF ES opens above 79.50 and trades higher ES can trend higher so caution at the 81.75-83.75 resistance. IF ES opens above 83.75 then we can lean on 83.75-81.75 as support with a good intraday setup.

Happy Trading.

Wednesday, April 15, 2015

Wednesday 15th April trade plan and levels

Trade Plan and Levels Wednesday 15th April 2015


Today we will open the RTH session above yesterdays value area setting a bullish context. There is quite a large number of support resistance zones today so it will be important to wait for a good intraday setup before taking a position.

We will be using 93.50-91.50 as the bull bear above here buyers should be firmly in control especially with an open above value. We have resistance at 00.25 - 98.25 and 05.25 - 03.25. We would definitely want to see a solid intraday setup to short these levels given the bullish open. If we can break below the bull bear we have support at 89-87 and 82.50-80.50. If ES can break below these supports we may see a liquidation move back into the previous balance area with the next significant support at 66.50-64.50.

In summary watch today's open and if we open above 91.50 and trade higher we may see an upward move so caution fading resistance.

Happy trading

Tuesday, April 14, 2015

Tuesday 14th April Levels and Trade Plan

Morning all,


Today we will be using 93.25-95.25 as our bull bear zone. If ES can stay below here then we can test lower levels into the day session today. First up we have 82.75-80.75 where we would need a perfect intraday setup to execute a long here. Caution - If ES can open below 89.50 and trade lower then we could be in for a continuation of yesterdays down move and we could easily head to 77.25-75.25 where we would need a good intraday setup and then 65-67 which could bring some buyers into the market.

If ES can open above 89.50 and trade higher we could see ES rotate around the b/b area for the morning and above 95.25 we can reach 98.50-00.50 where id expect to see sellers and then 03.25-05.25 where again sellers can step in.

In summary watch todays open and if we can open below 89.50 and trade lower then we could be in for some continued down momentum.

Happy Trading.

Monday, April 13, 2015

Monday April 13th Levels and Trade Plan

Morning all,


ES broke out Friday and we finally saw the upwards move we had been looking for. However it failed to break above the first resistance we had from friday's plan. Therfore today the levels are much the same as fridays. We will use 80.75-82.75 as the main bull bear zone. Above here ES is still in bullish breakout mode and can continue to head higher up to 30.25-05.25 and 09-11 targets where we could see sellers on a good intraday setup. We do have resistance at 94-96 also at the weak high from friday which if sellers are going to push this back from the off, this is the place they may do it from, however we would need a perfect setup to short this.

As we stated ES must stay above 80.75-82.75 to remain bullish on a bigger scale so this can act as support on the day time frame. If we get below this then id expect us to see buyers at both 75.25-77.25 and 65-67.

Happy Trading.

Friday, April 10, 2015

Friday 10th April Trade Plan and Levels

Morning,


Yesterday ES finally managed to break out and close above the balance we had been in.  So today we will be using the 80.75-82.75 area as our bull bear zone, ES must try and hold above here to go on and potential trend up to higher targets of 95-97, 03.25-05.25 and 09-11. Shorts at these levels must be a perfect intraday setup as ES is break out and could be directional on the day time frame.

If ES breaks below 80.75 then we can see buyers at all support levels below, 77.25-75.25 and 66-64. Each could provide could risk to reward on the long side.

To summarise it is very bullish if ES can hold above 80.75-82.75 and for bears to take back some control we really need to get below 75.25.

Happy Trading.

Wednesday, April 8, 2015

Thursday 09th April Levels and Trade Plan

Hi all,

I am going to post tomorrows levels on the blog now. as ES is ready for a directional move which may or may not come in tonight globex session. Just thought id get them out early for you guys.


So as mentioned above ES is poised for a directional move out of this 3 day balance area and we are trading at the top of a bigger 10 day balance starting from 25/03. Therefore to give us a short term bias we will be using 73.50-75.50. If ES can stay above here and trade back into 81.50-83.50 then we may see a breakout above this area into the higher targets of 95-97 and 03.25-05.25. I would be cautious shorting these levels if we did break out of this on strong momentum and id look for other confirmations if i was to enter short.

If ES can break below 73.50 i would expect us to test 64-66 which can still attract buyers but again as ES is poised for a directional move we would need a perfect setup here to buy as ES can easily break down below here to the 48.25-50.25 and 35.25-37.25 areas.

Happy Trading.

Wednesday April 8th Trade Plan and Levels

Morning and happy FOMC Minutes day once again,


Yesterdays action went according to the plan with rotation from the 81.5-83.50 level and failed to break the 68 we mentioned. Therefore today going into FOMC we are really unchanged from yesterday.

Today ES may chop around into FOMC again as long as we don't see weakness under the 68 area.
We are using 72-74 as todays bull bear zone and above here ES can go on to test 79-81 where we could see sellers step in on a good intraday setup. If ES can get above here then the next hard resistance is at 95-97 which we could test on a bullish breakout from FOMC, we then have 03.25-05.25 which could easily be reached during FOMC.

Below 72-74 ES can go down to test 48.25-50.25 where we could see buyers step in on first test Pre FOMC. If ES opens below 74 and trades lower then we could reach 50.25 early on in the trading day. I wouldnt expect us to test 35.25-37.25 until FOMC numbers.

In Summary buyers must take ES back above 74 for them to avoid going lower into 68 and then finally into 50.25-48.25. Zones further than these can easily be reached during FOMC.

Trade Cautiously.

Tuesday, April 7, 2015

April 7th Trade Plan and Levels

Morning,


Today we will be using 71.50-73.50 as out bull bear zone, Above here ES can test 81.5-83.50 resistance where we could see selling on first test. If ES breaks above here we could see 95-97 which is an automatic sell in most scenarios.

If ES gets below 71.50 then the next hard support is not really until 48.25-50.25 where id expect buyers on first test.

Today ES could just trade within and around yesterdays Value Area given the directional move from yesterday so id expect some rotational type movement during the day, If ES can break below and trade through 68 then we could see the lower support.


Happy Trading.

Thursday, April 2, 2015

Thursday April 2nd Levels and Plan

Morning,

Today we will be using 47-49 as our bull bear zone. If ES can break above this then we may see a test of the 63-65 zone. Where id expect sellers on first test unless ES can open above 54s and drive higher where id be cautious.

Above here we have 70-72 where id expect sellers to step in on first test and this could cap any upside moves.

Below 47-49 ES can test 35.25-37.25 and head back to value in a balance day type scenario. We would need a good intraday setup here. A break below here would suggest a potential liquidation type move to 21-19, this must be on weak internals or ES could perform a failed breakout and head back to 47-49.

Overall today we must judge if ES is going to try to stay within and extend yesterdays balance, or if it is going to reject it completely and head to some of the higher/lower more extreme trend day targets.

Happy Trading.

Wednesday, April 1, 2015

Wednesday 01 April 2015 Levels and Trade Plan





Today we will be using 2066.25 as our Bull Bear line in the sand. Below here we have support at 2051.50 - 2049.50 and we would require an intraday setup to buy this area. If we break lower i would expect buyers on first test of the next support zone at 2036.50 - 2034.50 however i would still want to see an intraday setup as this area was tested on 26/03/2015

If we open and break higher we have resistance at 2072.25 - 2070.25 then 2080.50 - 2078.50. Both these areas would require an intraday setup to take a short. Failing that we have 2097.25 - 2095.25 where i would expect sellers on first test and cap the upside.

Es looks like it will open today under yesterdays Value Area Low with a small gap to the downside. If this is the case we may see a continuation downwards so caution is definitely required buying early in the session.

Happy Trading