Esfutures
ES Weekly PlanTwo important levels for ES this week. 4300 and 4350. On the hourly chart the downtrend is still at play, but we have put in two higher highs, and three higher lows, which could be indicating a trend reversal to the upside. But taking any long position into 4350 is extremely risky, until we can clear it.
Also pictured is ES's 10k tick chart, which typically is a better trend indicator. We broke the downtrend (teal line) and have successfully back tested the downtrend ~3 times while also creating a new uptrend.
It shouldn't be surprising to see chop and tight price action after so many trending days, but these are the levels I'll be watching for ES. I'll take long near 4300 and shorts near 4350 until price says otherwise. Listed are my long targets, and any shorts from supply will only be a few point scalps since it seems we are forming a reversal. Any short positions below 4300 could be sketch since daily demand is 4310-4270 (we could find support anywhere in that range).
ES Hourly - Back to Uptrend?Hourly analysis - Start of trend continuation?
For the first time since 15 Sept - ES has broken above an hourly supply level and swing high while also defending 4335's breakout level. This could very well be a trap or the start of a relief rally/continuation of the 11-month uptrend.
Levels to watch:
4420: This was ES's support 4-5 times before breaking down to these lows. We could backtest this level as a break and retest.
4375-4365: This is ES's new 1-hour demand zone where price broke through overnight highs and the previous one-hour supply. This is a good area to try longs, and to want ES to stay above. If we break back below, 4335 - 4310 at play.
ES Daily AnalysisES is at the very bottom of it's daily demand zone which was tested 18 August for a 195 point move before continuing lower. while we are also near it's breakout level of 4335. If we break below the daily demand and can not reclaim, I do see us making a move to the levels below.
If we see demand step back in here for a relief bounce, I could see a target of 4420 being realistic as it was previous support before making the move lower to test the breakout level or breakout demand zone.
Thoughts?
ES larger timeframe break and retestES is only 30 points away from it's breakout point in June around the 4337 level. For nine months, ES failed to break this level, and when it finally did it never retested it. Now, we are close. Will this be a buying opportunity or will ES flush straight through?
I personally will be looking to long this area.
Weekly Plan ES_F [September 9-18]09/17 Weekly Plan. ES Futures December ESZ2023.
Weekly Pivot is 4,508
Targets
4,543
4,562
4,592
Targets
4,478
4,457
4,401
Now trading at 4,499 ESZ
Alerts
You will receive alerts in this channel every time ES hits (2M candle close):
Weekly opening 4,499
Weekly pivot at 4,508
Each weekly target.
Side notes:
5 Days Balance in daily + weekly is OTFU which ends at 4494 [prior weekly BZ is 4 weeks H4547.50, L4350 + monthly 2 months
When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan.
Have a great week and trade safe. @everyone
Weekly Plan ES Futures - Week Of September 11th09/11 Weekly Plan. ES Futures December ESZ2023.
Weekly Pivot is 4,508
Targets
4,547
4,570
4,592
Targets
4,478
4,457
4,401
Now trading at 4,511 ESZ
Alerts
You will receive alerts in this channel every time ES hits (2M candle close):
Weekly opening 4,511
Weekly pivot at 4,508
Each weekly target.
Side notes:
3 Days Balance in daily + weekly [4 weeks H4547.50, L4350 + monthly 2 months
When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan.
Have a great week and trade safe.
Sp500 (ES futures) Analysis Hello Traders,
Sp500 reached a major support level.
The previous day candle which was last Friday printed a Doji candle that indicates an indecision in the markets.
We anticipate SP500 to go bullish from this major support level from the week...
if there is a chance that SP500 goes to a higher price then rejects in the week, then we will follow it to see if it clears last week lows
in all, We are sticking to our first analysis that SP500 will go higher from the major support level.
2hr view of SPX, keeping track of the chartThe goal of this chart is to look at where we are in the cycle on on the mid-term chart. Keep in mind these are just lines and NONE of these "lines" are intended to predict price exact action. They simply provide context to where the chart is in space.
SPX is currently in a down trend and saw a decent sell off as 10year rates continued rising after FOMC meeting minutes today.
Banks were hit with the Fitch Downgrade, Oil was hit with China news, Tech has been hit with earnings after a massive run up for the first half of the year.
With August Op-Ex on Friday and JPow at Jackson Hole next week I would expect we either continue selling off down to the 4400 area (an ideal area to swing long) or bounce and chop into Friday.
Apple's price action should provide a strong clue towards market direction.
Going into the second half of the year I would not be surprised to see small caps and mid-caps dominate the price action while large caps chop around and consolidate. It may be worth paying attention to IWM and IWR going forward.
Weekly Plan ES Futures 8-148/14 Weekly Plan. ES Futures September
Weekly Pivot is 4,505
Targets
4,532
4,560
4,592
Targets
4,478
4,456
4,417
Now trading at 4,484
Alerts
You will receive alerts in this channel every time ES hits (2M candle close):
Weekly opening 4,484
Weekly pivot at 4,505
Each weekly target.
Side notes:
One time framing down in daily + weekly chart. Weekly ends if 4544.75 is breached.
When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan.
Have a great week and trade safe
Weekly Plan ES Futures 7/24/202307/24 Weekly Plan. ES Futures September
Weekly Pivot is 4,560
Targets
4,584
4,609
4,637
Targets
4,540
4,513
4,474
Now trading at 4,573
Alerts
You will receive alerts in this channel every time ES hits (2M candle close):
Weekly opening 4,564.25
Weekly pivot at 4,560
Each weekly target.
Side notes:
One time framing up OTFU weekly. End is 4536.25 is breached.
4 day balance in daily chart. H4709.25, HB 4577, L4545
When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan.
Have a great week and trade safe
Weekly Plan ES Futures 6/19/202306/19 Weekly Plan. ES Futures September
Weekly Pivot is 4,445
Targets
4,487
4,510
4,540
Targets
4,415
4,381
4,351
Now trading at 4,447
Alerts
You will receive alerts in this channel every time ES hits (2M candle close):
Weekly opening 4,288
Weekly pivot at 4,260
Each weekly target.
Side notes:
One time framing up OTFU in all timeframes.
Daily OTFU ends at 4451.
Weekly OTFU ends at 4351.25
Monthly OTFU ends at 4062.25
When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan.
Have a great week and trade safe. @everyone
CME_MINI:ES1!
Weekly Plan ES Futures 6/4/202306/04 Weekly Plan. ES Futures June
Weekly Pivot is 4,260
Targets
4,300
4,327
4,346
Targets
4,230
4,194
4,165
Now trading at 4,284
Alerts
You will receive alerts in this channel every time ES hits (2M candle close):
Weekly opening 4,288
Weekly pivot at 4,260
Each weekly target.
Side notes:
One time framing up OTFU in all timeframes.
Daily ends at 4249, weekly ends at 4174 and monthly ends at 4062.
When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan.
Have a great week and trade safe. @everyone
Weekly Plan Recap and Balance Zone DiscussionIn this video I am discussion last week's plan and how it performed. Please pay special attention to the tweets linked to the chart highlighting trade entries and targets accomplished.
These were the targets and pivot.
Weekly Pivot is 4,194
Targets
4,240
4,260
4,300
Targets
4,172
4,137
4,114
Weekly Plan ES Futures05/30 Weekly Plan. ES Futures June
Weekly Pivot is 4,194
Targets
4,240
4,260
4,300
Targets
4,172
4,137
4,114
Now trading at 4,241
Alerts
You will receive alerts in this channel every time ES hits (2M candle close):
Weekly opening 4,239.75
Weekly pivot at 4,194
Each weekly target.
SPX - at least 10% upside upcomingSeems like SPX has found the base for another push up to 4400+ zone in wave C of larger B. It may take up to 2 months to complete this structure.
I count recent choppy action as wave 1 taking shape of expanding diagonal, it may still do one more spike up before retracement in 2. 3840 should be a stop-loss here.
ES Futures Weekly Plan 5-1505/15 Weekly Plan. ES Futures June
Weekly Pivot is 4,150
Targets
1. 4,188
2. 4,220
3. 4,240
Targets
1. 4,114
2. 4,090
3. 4,061
Now trading at 4,146
Alerts
You will receive alerts in this channel every time ES hits (2M candle close):
1. Weekly opening 4,132.5
2. Weekly pivot at 4,150
3. Each weekly target.
Side notes:
1. Balancing in daily timeframe. H4169.5, L4111.5, HB4114.
2. Balancing in weekly timeframe. H4206, L4,062, HB 4,134
3. Balance in monthly timeframe. H4208, L3814, HB4020.
4. When trading off weekly levels, each level will act as support and resistance, “no trade zones” do not apply to weekly plan.
Have a great week and trade safe.