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Morning Ideas July 20, 2021Very important day setting up today after a really volatile day yesterday. I got long from 4243 and took a little heat, but ultimately got what I expected, an intitial bounce of 4240. Now that the bounce has happened, I'd like to see the rally continue into 4290 and above. If it can't do that, and we return to 4240 and are unable to hold, I will exit. I think this market has a real chance to be weak again today, and I haven't said that in some time. Until the market proves it, I will stay long from my 4243
CME_MINI:ES1!Long
by TakeProfitTrader
Morning Ideas July 16, 2021A quick dip below 4340 yesterday was quickly bought and here we are back into the middle. I think that with the dip lower yesterday, the odds are in favor of a test of 4390 or a slow sidewaya day. I don't expect to see the market go back down and break 4340 again today. With the buyers being in control of this market, you MUST give the benefit of the doubt to the longs here. If the market starts selling off next week, we may miss the first move down, but there will be plenty of opportunities to play the short side.
CME_MINI:ES1!Long
by TakeProfitTrader
Morning Ideas July 15, 2021The red boxes on my chart indicate where the majority of the options open-interest is going into OPEX on Friday. You can clearly see that the market is stuck in between those two areas. I would expect today to be a back and forth type of day, most likely bouncing back up into the value area and towards VPOC at 4370. By the time the market closes tomorrow, I believe we will still be in between 4390 and 4340, and I am going to play it accordingly.
CME_MINI:ES1!Long
by TakeProfitTrader
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