es, spy, day and bigger picture trading for Apr 16th 2020
Updated
Please keep these 2 location in mind 2857 and 2710 as important locations to the bigger picture direction.
Above is SPX500 numbers take about 5 points off for ES numbers
Day trade updates will follow up about noon, giving my private member first look at this info.
Above is SPX500 numbers take about 5 points off for ES numbers
Day trade updates will follow up about noon, giving my private member first look at this info.
Trade active
Es action today, we keep building out this balance zone with a fight between longs and shorts not against each other but against the algos that are trying very hard to hold the market in place. The FED interactions has stemmed the flood of selling but have not fixed the underlying problem. The Red zone top and bottom is 2810 and 2772 and this could be the area we geet real active on the way to the bigger picture important zones that will paint the bigger picture going forward and that boundary is 2705 - 2852 these are the determinate areas I see that indicate bigger time frame action. Inside these bigger boundaries we are only seeing small time frame traders. The action or inventory in the over night is all long and often will see a down side balancing before we test red top for a run back to this weeks prior highs. So that is my plan A, move down to get long. Plan B is a drive to the down side that will have me looking short on bounces until we test over half way of the drop. And plan C, is trading the choppy market where very little conviction to either side is shown. above is pre open post, below is current comments
In the room posted the top of this for last spot to short is 2797 and took that short a bit late but turned out well, now looking to get back on short.
also had two other trades on the day.
Trade active
i targeted todays low, for this short, but seeing reasons that the chop might have ended and we go lower, i am back in cash but ready to watch and react
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