Friday, May 15, 2015

Friday 15th May Trade Levels and Plan


Well ES went to new all time highs in globex.

On that we have todays bull bear at 15-17, If ES holds above here then there is no question that bulls are in control and we can go up to new rth highs and reach potentially 28-30 which would be a good place to scale if long. There is no hard resistance up here so shorts arent advised unless we see a perfect intraday setup.

If ES fails to hold 15 then e can easily re test 04.50-06.50 where we could see buyers step in on first test. Below here we have 95-93 where id also expect buyers on first test f we get here today. Note if short 2100.50-99.50 could be a good place to scale as we could pause here although it is not a strong enough level for me to execute a long.

On the open look for 18, if ES opens above here then we can easily get to 28-30. If ES opens below 18 then we are more likely to see a more range bound type of day.

Happy Trading.

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