Friday, May 8, 2015

May 8th Levels and Trade Plan

Morning from a conservative led United Kingdom,

Today we will be using 81.50-83.50 as our bull bear zone, above here ES can go up to 94-96 where we could see selling on first test. Above here we have 99.75-01.75 again where sellers can step in on the day time frame.

If Bears can push us below 81.50 we have 67-69 and 61-63 both of which can attract buyers. Overall id expect today to be a stay within these levels and see reactions off of them on good intraday setups.

If ES can open above 87.50 we should be cautious shorting without a solid setup and be aggressive at support. If we open below 74 then bears could run these to lower levels and so we should be cautious getting long in this scenario.

Today is of course NFP so we really could open anywhere.

Happy Trading.


NFP has just ripped the ES and therefore there is a slight change to the levels. Posted earlier.

BB is now 92.75-94.75 with support at 81.5-83.50

As we are looking like we have a big gap up scenario id be cautious on the short side at resistance until we get a good intraday setup and aggressive at support zones.

Thanks. This just shows how we have to adapt all the time to the changing market conditions i guess.

Happy Trading

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