Monday, May 11, 2015

Monday May 11th Trade Plan and Levels


Today we will be using 09.50-11.50 as our bull bear zone. If ES can hold below here then we can go on to test 00.25-98.25 and 94.25-92.75 both of which could attract buyers with a good intraday setup. If ES gets to 83-81 on the day time frame id expect active buyers on first test.

Above 11.50 ES can easily continue its upwards momentum into new highs with no real hard resistance above the ATH. 19-21 can be used as upside targets but we would need an extreme exhaustion up here to short.

On the open if ES can open below 07.25 then we must be cautious on the long side as we could well close the gap from NFP. On the upside if we open above 12 then we can be aggressive at support with higher upside targets.

Happy Trading.

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