8am EST update -
Overnight price found a low at 6252 reached 6310 as the high. 6296, 6277, 6252 are the 3 main supports below. A flush and level reclaim of any of these supports should see price continue higher with targets of 6325, 6350, 6375.
IF price loses 6252 or Fridays low at 6240, these would be the higher quality levels we would want price to flush and reclaim for a move higher.
6297 support holds and we break the overnight high at 6310, the back test of this breakout would be worth a level to level move up to 6325.
The main levels I am watching is 6252 or 6240 to be tested, flushed and reclaimed. It would be best to wait for the 9:30am open and see how price reacts. I could see price flush in the first 30 mins, then catch bears offside and reclaim the Fridays lows. That would be a great short squeeze area to ride a couple of levels of back testing the overnight price.
Below Fridays lows and I will be waiting for price to build structure at the supports of 6225, 6210, 6194, 6175. If ES is selling hard into these areas, I would wait to enter any longs until I see structure build and reclaim the levels I have outlined. Let price come to you and be patient.
Overnight price found a low at 6252 reached 6310 as the high. 6296, 6277, 6252 are the 3 main supports below. A flush and level reclaim of any of these supports should see price continue higher with targets of 6325, 6350, 6375.
IF price loses 6252 or Fridays low at 6240, these would be the higher quality levels we would want price to flush and reclaim for a move higher.
6297 support holds and we break the overnight high at 6310, the back test of this breakout would be worth a level to level move up to 6325.
The main levels I am watching is 6252 or 6240 to be tested, flushed and reclaimed. It would be best to wait for the 9:30am open and see how price reacts. I could see price flush in the first 30 mins, then catch bears offside and reclaim the Fridays lows. That would be a great short squeeze area to ride a couple of levels of back testing the overnight price.
Below Fridays lows and I will be waiting for price to build structure at the supports of 6225, 6210, 6194, 6175. If ES is selling hard into these areas, I would wait to enter any longs until I see structure build and reclaim the levels I have outlined. Let price come to you and be patient.
Note
9:35am - Opening Update6297 support held and we have broken above the overnight high of 6310. We have heavy resistance at 6323, 6333. IF, price clears both, we should continue higher. I would be cautious at these levels, and I am still waiting for a pullback at the levels I discussed in the daily plan. You could try a short if price breaks back below 6310, tests 6297 and then wait for price to retest that low and short around 6294ish down to 6280. I DO NOT SHORT, so will wait patiently for price to come back to better levels to long.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.