Thoughts for week of 6/12-6/16
FOMC this week , stay nimble
Hello traders, Hope you had relaxing weekend. As I said in last week’s post “Outside the 400 point box now. Until its back in the box, bulls are in full control.” This does not mean we can’t and won’t be short but we need to keep that bigger picture in mind while trading. Just like when it was inside the box you could short edges on upper side, you can keep going long now on pull back as far as its outside the box now that is >4200
Overall we kept on extracting points on short side until Wednesday and on long side on Thursday and Friday.
Playbook for next week:
As a day trader I have setups that are only looking for next 20 points on ES . Of course some time that opportunity may turn into 50 to 100 points and we always have runner that takes advantage of that but we do not hope that market will move 100 pts every day and that’s simply unrealistic. We do not swing trade. Every trade is closed on same day with only runner left for over night session.
We broke out of 400 point chop box that market has been in since October. At this point bulls are in control of the market until we go back inside the box, that is below 4200 again. Main levels I am watching are 4406, 4372, 4328🔥, 4300🔥, 4272 🔥,4200. I will also be keeping eye as we may start trajectory back to lower edges of the chop box. Rest of the levels, live setups and other educational content as it happens are posted on private telegram
Bull bear line on weekly basis is going to be 4328.
If you subscribe to telegram then it includes daily levels and thoughts as they are also posted on private telegram.
Offline subscription option: As many people are interested in only levels and thoughts every day, I have created sub stack monthly & yearly option just for that now, these options does not include intraday trading on ES futures that I post on telegram. I may start posting some longer term ideas on it but for now its just levels and some short/long ideas. If you subscribe on sub stack as founding member then it also includes private telegram.
Econ for the week:
