6315 was yesterday's low and our overnight low. It has been tested multiple times and while typically it would be a great place for a flush and reclaim, it has also been tested and is very weak. IF, price breaks below 6315, we might get a quick pop, but I would rather see us flush down to 6296 or 6280 area and then reclaim 6296 for a level-to-level move and back test the 6315 level. IF, price clears 6315 we can continue to retest the 6333 & 6358 levels. We continue to trade in small ranges and until we can clear 6377 or flush Friday's level of 6240 and recover, it will be tough to find good quality setups. We really need to flush the 6240 level for a nice move back up to retest 6315.
I will update my session plan after 9:30am open.
I will update my session plan after 9:30am open.
Nota
9:50am - EST UpdatePrice continues to hold the 6333 level. This is a key level that keeps seeing buyers stepping in. IF, price loses 6327 or clears 6344, this should determine our immediate move up or down the levels.
IF price clears 6344, we should test 6358 - 1st Target, 6376 - 2nd Target.
IF price drops below 6327, we should retest overnight lows at 6315, I would expect a bounce to retest 6330 area if we do. Below 6315 and we are now starting to look for quality flushes and reclaims of 6297, 6280 levels to watch and look for points.
Nota
10:30am EST - UpdatePrice has been trappy in this 6328-6350 range. Quality setups unavailable until we can test the overnight lows of 6315 and see if we can flush and reclaim that level. I do not short price on ES, unless we find a very clear level that is tested 4-5X. Price is currently trying to find direction today. Without patience and waiting for price to flush a key level like 6315, it will just chop you up and you will lose $$. I am going to wait until 6315 is tested before looking at any new trades today. We could chop around in this range all day.
Nota
2:40pm EST - Daily Plan UpdatePrice dipped at 6350 this am, retested 6326 area and you can see on the 15 min chart, the institutional buying through the massive wicks on the candles. We kept finding buyers in this area and then took off the next retest of 6350 and has reached the targets outlined in plan above, at 6358 and 6376. We are coming up to a massive resistance at 6376-80 and the last hour will determine if we can power through and back test this level or will we need to cool off, before taking another shot at it. First support down is 6360-62. IF, price loses this support, we will need to head back to retest 6333 area that is weak now.
I will provide an update this evening for tomorrow's daily trade plan.
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.