Monday April 13th Levels and Trade Plan

Morning all,

ES broke out Friday and we finally saw the upwards move we had been looking for. However it failed to break above the first resistance we had from friday's plan. Therfore today the levels are much the same as fridays. We will use 80.75-82.75 as the main bull bear zone. Above here ES is still in bullish breakout mode and can continue to head higher up to 30.25-05.25 and 09-11 targets where we could see sellers on a good intraday setup. We do have resistance at 94-96 also at the weak high from friday which if sellers are going to push this back from the off, this is the place they may do it from, however we would need a perfect setup to short this.

As we stated ES must stay above 80.75-82.75 to remain bullish on a bigger scale so this can act as support on the day time frame. If we get below this then id expect us to see buyers at both 75.25-77.25 and 65-67.

Happy Trading.

Friday 10th April Trade Plan and Levels

Morning,

Yesterday ES finally managed to break out and close above the balance we had been in.  So today we will be using the 80.75-82.75 area as our bull bear zone, ES must try and hold above here to go on and potential trend up to higher targets of 95-97, 03.25-05.25 and 09-11. Shorts at these levels must be a perfect intraday setup as ES is break out and could be directional on the day time frame.

If ES breaks below 80.75 then we can see buyers at all support levels below, 77.25-75.25 and 66-64. Each could provide could risk to reward on the long side.

To summarise it is very bullish if ES can hold above 80.75-82.75 and for bears to take back some control we really need to get below 75.25.

Happy Trading.

Thursday 09th April Levels and Trade Plan

Hi all,

I am going to post tomorrows levels on the blog now. as ES is ready for a directional move which may or may not come in tonight globex session. Just thought id get them out early for you guys.

So as mentioned above ES is poised for a directional move out of this 3 day balance area and we are trading at the top of a bigger 10 day balance starting from 25/03. Therefore to give us a short term bias we will be using 73.50-75.50. If ES can stay above here and trade back into 81.50-83.50 then we may see a breakout above this area into the higher targets of 95-97 and 03.25-05.25. I would be cautious shorting these levels if we did break out of this on strong momentum and id look for other confirmations if i was to enter short.

If ES can break below 73.50 i would expect us to test 64-66 which can still attract buyers but again as ES is poised for a directional move we would need a perfect setup here to buy as ES can easily break down below here to the 48.25-50.25 and 35.25-37.25 areas.

Happy Trading.

Wednesday April 8th Trade Plan and Levels

Morning and happy FOMC Minutes day once again,

Yesterdays action went according to the plan with rotation from the 81.5-83.50 level and failed to break the 68 we mentioned. Therefore today going into FOMC we are really unchanged from yesterday.

Today ES may chop around into FOMC again as long as we don't see weakness under the 68 area.
We are using 72-74 as todays bull bear zone and above here ES can go on to test 79-81 where we could see sellers step in on a good intraday setup. If ES can get above here then the next hard resistance is at 95-97 which we could test on a bullish breakout from FOMC, we then have 03.25-05.25 which could easily be reached during FOMC.

Below 72-74 ES can go down to test 48.25-50.25 where we could see buyers step in on first test Pre FOMC. If ES opens below 74 and trades lower then we could reach 50.25 early on in the trading day. I wouldnt expect us to test 35.25-37.25 until FOMC numbers.

In Summary buyers must take ES back above 74 for them to avoid going lower into 68 and then finally into 50.25-48.25. Zones further than these can easily be reached during FOMC.

Trade Cautiously.

April 7th Trade Plan and Levels

Morning,

Today we will be using 71.50-73.50 as out bull bear zone, Above here ES can test 81.5-83.50 resistance where we could see selling on first test. If ES breaks above here we could see 95-97 which is an automatic sell in most scenarios.

If ES gets below 71.50 then the next hard support is not really until 48.25-50.25 where id expect buyers on first test.

Today ES could just trade within and around yesterdays Value Area given the directional move from yesterday so id expect some rotational type movement during the day, If ES can break below and trade through 68 then we could see the lower support.


Happy Trading.

Thursday April 2nd Levels and Plan

Morning,

Today we will be using 47-49 as our bull bear zone. If ES can break above this then we may see a test of the 63-65 zone. Where id expect sellers on first test unless ES can open above 54s and drive higher where id be cautious.

Above here we have 70-72 where id expect sellers to step in on first test and this could cap any upside moves.

Below 47-49 ES can test 35.25-37.25 and head back to value in a balance day type scenario. We would need a good intraday setup here. A break below here would suggest a potential liquidation type move to 21-19, this must be on weak internals or ES could perform a failed breakout and head back to 47-49.

Overall today we must judge if ES is going to try to stay within and extend yesterdays balance, or if it is going to reject it completely and head to some of the higher/lower more extreme trend day targets.

Happy Trading.

Wednesday 01 April 2015 Levels and Trade Plan

Today we will be using 2066.25 as our Bull Bear line in the sand. Below here we have support at 2051.50 - 2049.50 and we would require an intraday setup to buy this area. If we break lower i would expect buyers on first test of the next support zone at 2036.50 - 2034.50 however i would still want to see an intraday setup as this area was tested on 26/03/2015

If we open and break higher we have resistance at 2072.25 - 2070.25 then 2080.50 - 2078.50. Both these areas would require an intraday setup to take a short. Failing that we have 2097.25 - 2095.25 where i would expect sellers on first test and cap the upside.

Es looks like it will open today under yesterdays Value Area Low with a small gap to the downside. If this is the case we may see a continuation downwards so caution is definitely required buying early in the session.

Happy Trading