ES - two monthly levels worked as a resistanceOn a micro 15 min chart we can see a bearish Head and Shoulders reversal pattern.
The green line is the Monthly Support drawn by my Month Opening Range indicator.
see:
Note that the green line, the monthly support, once broken started to work as a resistance for the very last push higher.
ISP1! trade ideas
ES1! Daily/15 short E-Mini S&P 500 futures attempted a re-test of the year high into christmas eve on the daily chart. By thursday, the bulls had been washed out and a reversal was initiated. Being the price action failed it's bullish extension along the year high, I am taking the current formation as a bearish 'drop and pop', expressing conviction in this trade by shorting the 15 minute chart 'drops and pops' toward the price point ES1! should trade to on the daily chart. Gains have already been realized in the first leg of selling, price action is being monitored for the next entry granted price action holds.
Combined US Equities - not nice end, not expecting a great startQuick analysis of the Combimed US Equities daily chart...
A significant rebound last week put the closing back into the decision box. Thing is, it went out the other end, as expected it would, BUT ended with a doji (indecision candlestick) and came back into the box... which suggest an exit to thru the lower end. This is abou to happen over the last days of the 2024.
And IF it exceeds the last low, then it is a tell all that 2025 is not going to be bullishly exciting.
In any case, a good retracement is overdue and likely comes in 1Q2025
Technicals here show weakening MACD and a decelerating rate of VolDiv.
Let's see how bullisht the first day of 2025 and the first week of 2025 can be... not terribly optimistic IMHO.
In any case... HAPPY NEW YEAR 2025 everyone!
Stay safe and stay happy!
ES Weekly Trading Plan: Balancing Market Strategy 12/29 🚨Trading Plan: Balancing Market Strategy with Failure Scenarios 🚨
Market Context
The market is currently in a balancing phase, with defined extremes of the balance zone at 6164 (high) and 5898 (low). Our approach will focus on trading around the midpoint and targeting key levels, while remaining aware of potential failure scenarios where the market tests beyond the extremes but fails to sustain momentum.
Key Levels
Balance Zone High: 6164
Balance Zone Low: 5898
Midpoint (Pivot): 6031
🎯 Upside Targets:
6072
6108
6144
📉 Downside Targets:
5999
5964
5928
🧑💼 Strategy Overview
Objective:
Trade within the balancing market, utilizing the midpoint as a pivot for directional bias, while also preparing for failure scenarios at the balance zone extremes.
Risk Management:
Place stops just outside the balance zone extremes to avoid being caught in a breakout trap.
Execution Plan:
Follow a systematic entry and exit plan based on price action near key levels, with heightened focus on failure scenarios at the extremes.
Trade Execution Plan
Pivot Zone: 6031
If price holds above 6031:
Look for long opportunities targeting upside levels.
If price breaks and holds below 6031:
Look for short opportunities targeting downside levels.
Upside Trade Setup:
Entry:
Enter long positions near 6031 on confirmation of support (e.g., strong buying momentum, bullish candlestick patterns).
Targets:
6072 → 6108 → 6144 →
Stop Loss:
Place stops just below 5999 to protect capital.
Downside Trade Setup:
Entry:
Enter short positions near 6031 on confirmation of resistance (e.g., strong selling momentum, bearish candlestick patterns).
Targets:
5999 → 5964 → 5928 →
Stop Loss:
Place stops just above 6072 to protect capital.
⚡ Failure Scenarios
Looking Above 6164 and Failing:
Scenario:
The market breaches 6164, signaling potential breakout buyers, but quickly reverses and re-enters the balance zone.
Trade Opportunity:
Short the market on confirmation of failure (e.g., rejection candlesticks, increasing sell volume).
Targets:
6144 → 6108 → 6072 → Midpoint (6031).
Stop Loss:
Place stops just above 6164 to avoid prolonged breakout risk.
Looking Below 5898 and Failing:
Scenario:
The market breaches 5898, signaling potential breakout sellers, but quickly reverses and re-enters the balance zone.
Trade Opportunity:
Long the market on confirmation of failure (e.g., rejection candlesticks, increasing buy volume).
Targets:
5928 → 5964 → 5999 → Midpoint (6031).
Stop Loss:
Place stops just below 5898 to avoid prolonged breakout risk.
Fake Breakout from Midpoint (6031):
Scenario:
The market shows a directional breakout from 6031 but fails to sustain momentum, reversing back into balance.
Trade Opportunity:
Trade in the direction of the failed breakout, targeting the opposite side of the balance zone.
Stop Loss:
Place stops just outside the failed breakout level.
💡 Risk Management
Position Sizing:
Risk no more than 1-2% of account balance per trade. Use tight stops to minimize loss in failure scenarios.
Break-Even Adjustments:
Move stops to break-even once the first target is hit.
📈 Trade Monitoring
Order Flow Analysis:
Continuously monitor volume and order flow near extremes and the midpoint for signs of breakout or failure.
Market Context Update:
Adapt the plan if the market establishes a new range or breaks out of balance.
💰 Exit Plan
Take profits incrementally at each target.
Exit immediately if the market signals sustained breakout momentum beyond the balance zone extremes.
🔔 Stay disciplined and adapt to the price action!
#BalanceZone #MarketStrategy #RiskManagement #SPX
US Stocks Pull back SharplyStocks declined on Friday, led by technology names, but major indexes still posted a positive holiday week.
The blue-chip Dow Jones Industrial Average
shed 333.59 points, or 0.77%, to 42,992.21, falling for the first time in six sessions. The S&P 500
fell 1.11% to 5,970.84. The Nasdaq Composite
slid 1.49% to 19,722.03, as Tesla
dropped about 5% and Nvidia
fell 2%.
Bullish Rally, followed by a seloff in the afternoonOn the blue C wave targets on the lower right.
This is meant to teach EWT elliot wave theory, to give not give trading advice. There is a corresponding Video Idea that goes into more detail. I will update the idea during the day tomorrow.
I''m planning on buying with both hands if BITX /BITC go down on a 28" C wave. any rally will be over by the 1 AM Lunchers Idea I shared with the TV community, the idea that the pit Tradeers go out on 3 martin i lunchs, and ater they return they make a move to take reatil money. this is a tiny part of my "Bilderberg Theory" which I have been trading along with Paper, buying at S6 anbd selling at R6, since 2003 with I ;earne from Giget Sune, who i tradee futures with, and David Elliot the number oner stock chart trainer, awarded by the U.S stock Traders Assocition. 2003-2005 >. i rrally appreciate being given the opportunity to share my knowledge.
www.tradingview.com
BITCUSD / BITX has exactly the same chart.
[ES] Has the S&P 500 Finished Its Runup?I doubt it. That move doesn't look like it's done.
The general principle that this basic analysis follows is that the market moves in 3s and 5s. Now, that may sound a lot like Elliot Waves and it should. 3s and 5s were Ralph N. Elliot's primary discovery and contribution to the discovery of natural phenomena in markets.
That said, it is dangerous to get dogmatic about rules. The same applies to Fibonacci extensions. But when you combine "3s and 5s" and "Fibonacci" you end up with a pretty reliable pattern. When there is a three wave move in progress (which could eventually turn into a five), you can pretty reliably trade that move (up in this case) to the 0.786 trend extension (highest probability), the 1.000 extension (high probability), or it could turn into a five wave move that goes clear up to the 1.618 extension (lowest probability move).
It is not wise to be dogmatic about these strategies though, because you have to listen to the market. The market is the CEO of this enterprise, not the lines on your chart. That said, this works better than 50% of the time without question. It's a generally truthism that markets move in 3s and 5s. The challenge comes when it comes to 'wen buy, wen sell.' There is no right answer to that. Sure, the market moves in 3s and 5s, but to take advantage of it requires fluidity and a careful consideration of your (a) risks, (b) 'Bayesian priors" (if you will), and (c) the adjacent future outcomes as the come into view.
This is not an endorsement of either methodology. It is merely a demonstration of the veracity of components of those methodologies.
Trade well.
es1! retests 5kes1! appears poised for a larger move down, based on the smaller timeframe count .
this leads me to believe that es1! has entered a larger fourth wave. historically, these waves take an average of 2 months to play out and typically result in a 12% decrease from the high before completing.
wave 4's often retrace back into the territory of the prior degree's wave 4, and i expect this one to follow suit.
pay attention to the green trendline i've drawn on the chart,,, it serves as a solid guide for where i anticipate es1! to find a bottom. dipping below the trendline is acceptable, provided we don't see any weekly candle closes beneath it. even if a weekly candle does close below, a strong recovery the following week, such as a gap-up scenario , could invalidate the breakdown.
there’s not much else to add here, as the chart is fairly straightforward. keep an eye on the trendline and monitor weekly closes for confirmation.
💸
ES/SPX Morning Update Dec 27thThis week has been about one level in ES: 6097-6100. It’s been my target since last Friday and remains a major resistance. Bulls control above it, while bears dominate below, aligned with the FOMC resistance. Yesterday, we hit the level and sold off.
As of now:
• 6060-6066 = support.
• Bulls must reclaim 6078 to rally to 6087, then 6097-6100.
• 6060 fails, and we dip to 6043-46.
SPX ETF TRADING CHART 2025Happy New Year! Here' is the chart I will be swing trading SPX ETFs showing with TV scripts so you don't have to code. I use the DAILY MES1! price chart and position in the aftermarket or premarket with an SPX ETF. Here is what I do. After the close --- 1. Golden Cross (50SMAX200SMA) shows the "trend". Only trade with the "trend" (only long since April 2023!). 2. Use Accurate Swing ("7") to enter the trade. 3. Exit the Trade when MES price CLOSES below HMA ("16")
ES/SPX Morning Update Dec 26thLevels are acting very precise in ES. Since Monday’s failed breakdown at 5980, the sole target for this rally was 6100 (FOMC backtest), hit to the tick at close Tuesday and followed by a solid short since
As of now:
• 6066 is weak support.
• Bulls need to reclaim 6078-80 to rally toward 6095+.
• If 6066 fails, selling could resume back down to backtest where we took off from Tuesday at 9am