The Plan for the day was to focus on the middle to back of the S/R TRADE ZONES to account for the increased volatility in the market. The primary concept of the trade plan is the WHITE ZONE. Above the WHITE ZONE buyers are in overall control and sellers below. ES opened below the 1638-1640 WHITE ZONE placing sellers in control. 1) The Back of the WHITE ZONE offered great trade location for a 6 point rotation to the downside. Remember all you need is one solid trade a day to build an account and my highest odds strategy I discuss here often is predicated on 1 high odds trade for 2 points.
ES was unable to reach Initial Support and Responsive buyers were able to push ES back up & through the WHITE ZONE. Each time a zone is tested the odds of a successful counter-rotation diminish. I often will choose to focus my efforts on only the highest odds trades. 2) Buyers pushed ES all the way up to the 1644.50-4646.50 PREMARKET RESISTANCE ZONE where again the middle to back of the zone provided great trade location. Again, this provided a 6 point rotation lower back down to the WHITE ZONE. 3) The push down into the WHITE ZONE was the first since buyers gained control & the same set up again provided great trade location for what became an eventual 15 point rotation higher to 1654. 4) There was one final clean set up for the day on the first test down into PREMARKET RESISTANCE ZONE after it was broken to the upside. Again the middle to back of the zone provided great trade location for a potential 9 point rotation higher.
Quick note, I experienced a technical issue & lost the EOD data. ES Chopped around from approximately 1648-1652. If you have followed me for any amount of time, you know I am no fan of the last hour. All in all a fantastic day. Would be nice to keep a two sided market like this for a while. Hope everyone did well. Again, Sorry for the delay in posting the review. Off to put together today's trade plans.
NOTE: Rates have gone up for my 4 session introductory coaching sessions. I will honor the $200 for 4 sessions of 1 on 1 coaching till Sunday Night 11:59 PM central time. Its an amazing value.
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