Thoughts for week of 7/24-7/28
Major earnings & FOMC
Hello traders, Hope you had relaxing weekend. We had great setups and trading through out the week and its all posted on daily basis so won’t repeat here. ES futures closed mere 28 points higher to its open with low at 4528 and high at 4609. Bulls seems exhausted prior to FOMC rate decision.
Earnings Next week: Notables are $MSFT $META $GOOGL
Playbook for the 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 during first week of June. At this point bulls are in control of the market until we go back inside the box, that is below 4200 again. There is likely chance we go there at some point but we don’t predict and just react so we will trade what we see. Main levels I am watching are 4696🔥, 4582,4570, 4560🔥, 4532🔥, 4466/70. 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 4570
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:
