Weekly review and free levels/setups for 7/7
Bulls are in full control of tape with ATH prints last two weeks, can it continue?
Hello traders, Last week saw ATHs on all major indices with ES futures scoring almost 100+ handles from lows. This week tariffs will be again in news with July 9th deadline for “pause” approaching soon. Its likely they will keep pushing deadlines further as a negotiation tactic for most countries. You can keep shorting 6312 until its converted, long area is 6224.
Trade reveiws posted on X for last week:
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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.
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Levels, & Possible Targets: 🔥🔥= Critical (These are now for September U Contract)
Long term view: As far as > 5700 tape remains in bulls’ control
Bull bear: 6296(Weekly bull bear level is 6296)
Above: 6294🔥, 6312, 6332🔥🔥, 6356, 6376, 6396🔥
Below: 6272, 6250🔥, 6236, 6224🔥🔥
Trade ideas: Short is vs 6296 and 6312. Long is vs 6312 on conversion or if it reaches 6250 or 6224.
Note: Use my globex Pivot/opening setup as main directional guide and then other setups as guidance. Flip or go flat if setup reverses as I may not be in front of my screen all day, you should by now know how the process works at most you have 2/4 handle risk. Setup generally reverses on 1 minute close above/below 3/4 handles from marker. Again there is no sure shot as some time I might relax that or may go predictive. That’s general rule anyway. Also most of the time setups always gives opportunities to reenter some time even multiple times so never take trade too far away from setup markers
