Monday, May 18, 2015

Monday May 18th Levels and Trade Plan

Morning guys,

Today we will be using 14-16 as the bull bear zone. If buyers can hold ES above here we are likely to see a breakout above 19.25-21.25 to new highs. 28-30 being a final target and not a great place to sell as there is no hard resistance at ATH's

Below 14 ES can go to 04.50-06.50 where we could see buying on first test. Below here we have 93-95 which could cap the downside today if we break lower.

On the open, if we open below 14 id expect to see us try to fill the gap to 94.75 so only take perfect intraday setups at support. An open above 18.50 would see us aggressive at support looking for the 28-30 final target.

Happy Trading.

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