Excellent Failed Breakdown in #ES_F and this was given live here and in newsletter (it was one of the top newsletter trades for today). I posted to watch for recoveries of the 7377 shelf. We recovered it, and ripped.
Targets given were 7398 (hit), 7415, 7433 if ES wants more
Its the standard Sunday gap down in #ES_F (same thing every week). As posted at Friday's close, let ES retrace now.
Bulls want to recover 7120 now to see 7135, 7147-53. 7085, 7072, 7058 are next supports down. Watch for traps of 7058
Big Picture View: The last 3 weeks were charting 101. On April 3rd, I posted #ES_F built a massive month long bull flag, ready to breakout. We brokeout & rallied 600 points
Plan Next Week: Backtesting. Bulls must hold 7085 to keep 7230, 7300 live direct. 7085 fails, sell 6982
Last Tuesday 11:30AM a Failed Breakdown of 6592 got us long in #ES_F for +280 point rally, given live here/in newsletter (this was *before* Iran deal headline, as institutions front run). Gap down likely today on "No deal".
Again, little to do but wait for next Failed Breakdown
Slow day as #ES_F digests yesterday's 250 point rally, which was triggered by the 6592 Failed Breakdown (given both here and in newsletter). We are getting scalps today. I posted at noon 6809 reclaims trigger long. Targets were 6819 (hit), 6833, 6844, 6853 above.
6793-6844=chop
Like every day trader, I've got tons of predictions on where price is going. When I sit to trade though, the 1st thing I do is throw them in trash. *All* I care about is waiting on my one setup, at zone I planned the night before, then *reacting* if it triggers. No crystal balls
As posted little to do and its been a lucrative session in #ES_F. Setup #1 was 6612 Failed Breakdown (hit 6647 1st target. Setup #2 was 6592 support (hit 6608). Identical to last two Friday's where we sold into close ripped Monday
6591 must reclaim to rally. 6552, the 6532 below
Pinpoint precision today in #ES_F and its a pure lvl to lvl day traders market. 6623 support as posted 8am. Held many times (back now). 6635 reclaim triggers up as posted. Targets were 6642 (hit 3x), 6658-62 (hit exact, rejected.
No change to rest of targets of triggers
The 6778-82 level is proving to be a massive "ATM Machine" today. I posted at 10:10AM the 6778-82 reclaim triggers us long again. Targets given were 6798 (hit), 6813 (hit), 6829-32 (hit). Thats all for today, more=bonus for runners
6838, 6850-52 are first bonus slate of targets
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Quick work after CPI in #ES_F & there's 6818-22 hit. I posted 330pm yesterday 6796 reclaim sees 6806. We got there. I then posted at 8am that 6818-22 was next. We hit 6818-22. Protect gains
Big test for bulls to retake control. 6832, 6842, 6853, 6870 next. No change to supports
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Note: As I discussed in newsletter 6361-65 was a key resistance shelf which was support last Wed and Thursday for huge rallies. We cleared it ystd, back-tested it 2x from above, with an active failed breakdown currently (from 410AM where we lost & recovered the 830AM ~6361 low)
Today was a very straight-forward day in #ES_F and work is done, ~6250 target hit. I posted 8am that 6250 to 6227-32 was the range. We sold to 6227-32 support *exact*. I then posted 6242 reclaim sees ~6250. Protect gains now, leave lotto.
6261, 6271, 6277-81 if ES wants more.
"When you create a problem, you create pain. All it takes is a simple choice, a simple decision: no matter what happens, I will create no more pain for myself." - Eckhart Tolle
Big follow through & we got a 3 target run in #ES_F off yesterdays Failed Breakdown. I posted at 1:43PM yesterday that the 6140 Failed Breakdown would trigger long to 6147, 6156, 6163+. All hit
Plan today: Work done, hold runners. 71, 82, 6208 next. 6155, 6140=support. Dip under
There's 6k hit in #ES_F. As posted last night (& in Tuesday's 4pm newsletter) ~5926 was support, with Failed Break of the 5929 low triggering long. ~5926 was exact low. 5975, 6k were targets both hit
No change: 6k must reclaim to see 6007, 6015+. 5975=support. Dip below to 5959