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.

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