Tuesday, May 19, 2015

Tuesday 19th May Levels and Trade Plan


Today we will be using 25-27 as our bull bear area, if ES can hold above here then this a hugely bullish and can go on to test 35.5-37.5 targets. There is no hard resistance above ATH.

Below 25 ES can test 19-21 which should really be treated as the last spot that buyers need to defend to hold control on the day time frame, so we will need a good intraday setup to be long here. Below here we have 14-16 where we can see buying on first test.  If ES can liquidate below here we could get to 06.50-04.50.

On the open look for ES to open below 19 or above 28.50. An open above 28.50 could mean we can easily get to 35.50. An open below 19 would be a huge bear sign and signal in a shift of value.

Happy Trading.

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