ES - December 2nd - Daily Trade Plan

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December 2nd- Daily Trade Plan - 6:20am

*Before reading this trade plan, if you did not read yesterday's take the time to read it first! (You can view the posts in the related publication section) *

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My daily trade plan and real-time notes that I post are intended for myself to easily be able to go back and review my plan and how I did from an execution perspective.

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I was on vacation with my family last week and received a lot of messages asking about my daily trade plan. I have not posted since the 25th as I was travelling and enjoying time with my family. I hope you had a great Thanksgiving and spent time with your families!

Let's get into today!

The overnight low is 6813 and overnight high is 6846. Since my last daily trade plan, we have been consolidating between 6789 - 6864. We have had some great trades around the 6800-6815 level that has been a magnet over the past sessions. We still have not made a higher high during this time. Until we clear 6854, 6864 we are technically in a range that has been bought and sold between 6813-6864. Price should continue higher and I do not expect price to lose 6779 (lowest) for us to continue higher. IF price loses 6779, we will most likely need to head lower to find levels to engage to take us higher. Until then, let's look at areas that could produce some points today.

Key Levels Today
1. 6813 flush and reclaim
2. 6801 flush and reclaim
3. 6789 flush and reclaim

Below these levels and price will most likely be selling off and I would be getting out the way and let price find a level below to reclaim and move higher.

I will post an update around 10am EST
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Couple of things about how I color code my levels.
1. Purple shows the weekly Low
2. Red shows the current overnight session High/Low (time of post)
3. Blue shows the previous day's session Low (also other previous day's lows)
5. White Levels are previous day's session High/Low

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บันทึก

8:58am - Update

Since we had a very nice 30+pt bounce at the 6813 level overnight and reclaimed 6824 and continued into the 6847-overhead resistance. We now need to be patient for another flush and reclaim of 6813. Next attempt we could flush below 6813 and recover. IF this happens, you have to take profits at next level up which is 6824. While price can continue higher, we don't know how many times liquidity will keep price moving level to level. As of writing this we still have not made a higher high and if price does lose 6813, we could flush lower. IF we lose 6789, I think we get a good flush and recovery and would be a good spot to grab some points. Below 6779 and I would let price continue lower and would only be buying on the recovery of 6790 level. Let's see what price does at the open and I will post an update around 10am.

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บันทึก

10:05am - Update

Price opened up at 9:30am and built a solid range between 6840-6854 and tried to sell off down to 6839 and then reclaimed the 6846 level that was resistance at the open, became support, lost it down to 6839 and then reclaimed it at 9:59am. We are now testing the overnight highs and price should hold 6846 on any pullback or we have a fake breakout and will probably flush lower if we lose the 6838 level. This is such a tight range that is not part of my trading plan and waiting on a pullback can be frustrating at times. You might get an opportunity of some points if price can clear 6855 and back test that level to move higher.

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บันทึก

12:01pm - Update

Price flushed the 6824-support shelf that was the overnight support and then became resistance until we broke above it during the European open. We have been back testing 6837 and need to clear this level to continue higher. I am still waiting on a flush and reclaim of 6813, which we may not get if we can clear 6842. Since it is my first day back and 6813 was my best level for a flush and reclaim, I will be patient and wait to see if price can come lower during the afternoon session.

เมื่อวาน

บันทึก

3:50pm - Update

Price held the 6812 overnight low and put in a session low of 6818. Price has been trying to make a new high above 6864 but has been getting sold off on any attempt above 6850. We continue to trade in this choppy range, but we should breakout or breakdown this range tomorrow or Thursday. My general lean is that we can continue higher but need to hold the 6780 level. 6837-6841 has been a magnet in this range between 6818-6864. That is the bull/bear line, and we really need to stay above 6825 for price to continue higher. Any loss of 6818 down to 6812, 6802, 6790 will need to flush and recover levels above to keep moving higher. Daily trade plan will come out by 6am EST.