All #ES_F scenarios from yesterday were void with price retracing all the way to 2855 to prev. day range
US GDP (adv.) and FOMC today
Price back above 2880. Looking to play a move towards 2930. If below 2880, looking to play move to 2855
R: 2900, 2930
S: 2880, 2855, 2850
#SPX
Strong rally O/N for #ES_F after retesting HVE area at approx. 2850. Looking for throwbacks to either 2890 or HOY for longs to 2930. Not expecting price to hold above 2930 on first attempt and will look for a play back to 2850 for a LVA fill.
S: 2890, 2880, 2870
R: 2930
#SPX
Whippy day for #ES_F with all the headlines. Price broke below 2740 to make original trade thesis void, but has broken back above. Will look for a test of 2750, prev. S/R and today's LVN for entry. Would not like to chase. Original trade thesis back in play.
R: 2850
S: 2750
#SPX
I understand why people say just trade the setups, but I believe that understanding the environment is a key factor. Iโve been passing on several setups today because I took a couple losers early on & want to see things start to work again before I step in. Environment matters.