Plan for May 12 Monday
Trade deal talks drives market, ES futs back above key 5700 level
Hello traders, hope you all had a great Mother’s day weekend. Hope you called your Mom or remembered her good memories today at the very least. ES futures opened above 5700 mark after mostly ocillating between 5600 and 5700 mark last week and FOMC is on wait and watch. As I have pointed out 5700 is very important level and bulls have ball in their hand until they can keep it above it.
Prop Firms Promotions
I will list best promotions on good prop firms going forward. They are best way to learn and make money without blowing up 100’s of thousands of your own dollars.
Apex 80% off plus SPECIAL PRICING: The 150K, 250k and 300k ONLY $59.40 Use FT400 code. Verified by members for payout.
TakeProfitTrader NO ACTIVATION FEES IS BACK- Removes the Daily Loss Limit (DLL) Plus 30% Off evaluations Use FT400 code. Verified by members for payout.
TicktickTrader Use FT400 code
Econ for Week
Night session Trading Suggestions:
I suggest to not trade night session from 10 pm to 2 am chop. If action has to happen than it will happen before 10 pm or after 2 am EST. You can generally play short on top level provided for nightly range and long on lower level of nightly range after 2 am or 3 am. But get out of the way if it rips or drops thru levels and wait for new opportunity or flip. And of course never add to loser and better yet cut it and reset.
Remember: I never short above or long below my marker. I wait for it to pause before it or come back to it from rip/dip and pause before executing.
Never take position before Econ like CPI Or FOMC. After econ watch for levels where it stops and how it interacts to decide long or short.
Recommended stop: -2 and go to BE on +2. Some ppl who can't reenter shall chose -3.5/4.
Scale out: 2 lots at +6/8, 3rd at +10/16, 4th leave runner at BE
Big picture: > 5700 this remains bullish.
Rest of the content is for paid sub stack users and is also shared with members on private telegram channel (Note to telegram members: please do not ask me that you do not have sub stack access, you don’t but the content behind paywall is already posted on your channel. Thank you).
Sub stack subscription does not include real time telegram alerts it only includes this nightly news letter with levels and possible setups. For real time alerts please go to https://futuretrader400.substack.com/about