Gm and welcome ot the last day of the year, I hope everyone had a great year. I am looking forward to some great trading in the year to come. Remember, the biggest part of trading is YOU. so make sure you are doing thing to get your head strait, your trade plan is clear and your risk plan is clear. As for today, NQ is trading inside of yesterdays range, while ES is just below, Given that we are in a Bull market and the overwhelming number of participants are retail traders today, So long as NQ holds yestrdays low in early trading I would expect an attempt to push up, with light resistance at 16435-16450 with the extended target being 16528-16537, WIth extended targets above yesterdays high (see charts) In ES, again, currently trading above yesterdays lows and assuming bullish context will continue, upside targets are 4771-75 followed by 4790-4792. The best longs will come from levels below, the yellow zones and the solid orange lines, members in the room know how to use these to generate big trades,. As for CL, its friday, I dont expect much , Its in a massive bull move, but with pretty good two sided trading, Has to get back above 76.13 to make a mmive higer, we have traded below 75.50 over night (orange line) and found responsive buyers, I would also add globex low as a good stop run location to enter long. Overall, I would suspect a balanced day with choppy action, last hour may see some last minute tax selling, but I will not be around for it. Hope everyone has a great day, hit me up if you have any questions TRADENPERFORM@GMAIL.COM
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| ES |
ES EOD, TRADE PLAN CALLED FOR BALANCE, WITH LONGS FOUND UNDER PRIOR DAYS LOWS AND RESISTANCE AT THE YELLOW ZONE, AND A POSSABLE YEAR END SELLING FOR TAX PUPROSES SELL OFF AT END OF DAY, PRETTY MUCH PERFECT.
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| ES EOD 12/31 |
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| CL |
FRIDAYS FOR CL ARE USUALLY A DULL EVENT, AFTER ATTEMPTING TO TRAP BACK INSIDE YESTERDAYS LOW AT 76.13 3 TIMES, THE BULLS FINALLY FAILED, AND COME BACK TO TEST UNDER 75.50, ORANGE LINE, WHERE IT INITIALLY FOUND RESPONSIVE BUY ATEMPTS BEFORE FINALLY GOING TO TAKE OUT GLOBEX LOW WHERE IT FOUND RESPONSIVE BUYERS TO LIMP INTO THE CLOSE,
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| CL EOD 12/31 |
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| NQ |
EARLY IN THE SESSION, NQ GAPPED DOWN , BUT ABOVE YESTERDAYS LOW, AND AS I QUIET COMMON IN BULL MARKETS , IT IMMIDIATLY RALLIED, 50 POINTS, OR 1K PER CONTRACT TRADED, IT THEN TRADED BELOW THE FIRST ORANGE LINE, 16388, WHERE IT FOUND RESPONSIVE BUYERS FOR A 30 POINT ROTATION UP, BEFORE ROTATING BACK TO TAKE OUT THE LOWS AT 11.05 MA CST., AS EXPECTED , IT TRADED IN BALANCE THE MAJORITY OF THE DAY, EACH TIME A NEW LOW WAS TAKEN OUT, WE HAD A TRADEABLE BOUNCE, BEFORE FINALLY GETTING THE END OF DAY SELLERS BELOOW THE 16344.75, DONW TO THE YELLOW ZONE AT 16323, WHCIH GAVE LAST MINUTE HERO TRADERS A 20 POINT UP ROTATIONS, WAY TOO LATE IN THE DAY FOR ME TO TRADE THAT PRODUCT. HOPE EVERYONE TRADED WELL, LOOKING FORWARD TO AGREAT NEW YEAR.
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| NQ EOD1231 |
