Thursday, April 23, 2015

Thursday 23rd April Levels and Trade Plan


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.

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