ES - October 6th - Daily Trade PlanE-mini S&P 500 FuturesCME_MINI:ES1!jhill1618October 6th- 7:45am EST *Before reading this trade plan, IF, you did not read yesterdays, or the Weekly Trade Plan take the time to read it first! (You can see both posts in the related publication section) * If my posts provide quality information that has helped you with your trading journey. Feel free to boost it for others to find and learn, also! My daily trade plan and real-time notes that I post are intended for myself to easily be able to go back and review my plan and how I did from an execution perspective. ----------------------------------------------------------------------------------------------------------------- In Friday's trade plan I was looking for the following levels: 1. 6772 test and reclaim the 6777 level to test the overnight highs and levels above. 2. 6758, flush and reclaim to take us back up the levels Around 8:45am we lost 6772, built a nice base and reclaimed the 6772 level and moved higher to 6800, which was our weekly high. 1:14pm - Update This will be my last update of the day before I leave my desk for the weekend. I did want to point out that we have met our main weekly targets and price started selling off at the 6800 level. Price needs to hold 6777 and reclaim 6788 to continue higher. As of writing, Tech is in the red and the VIX is green around 17.83. IF, price does lose 6777, I believe we will need to test the 6756 area as next good spot to get points. IF, price gets much lower, the Failed Breakdown of yesterday's low around 6741 and reclaim of 6745 would be a good spot also. I have no idea what the market will do this afternoon. IF, you have made money today, shut down the computer and do something else. IF, you have made money this week and lost money today, shut down the computer and do something else. DO NOT have FOMO and think you can trade long and short. You might get lucky a few times, but it is a retail traders' nightmare that causes accounts to blow up. As I always say, there are 250 days in a year. You will have good setups next week! IF, you still have a trade left in you, my opinion would be to wait for the 6756 or 6741 area, I have discussed above. What happened in the afternoon? around1:45pm we flushed down to 6753, reclaimed the overnight low at 6758 and got a nice pop to 6780 and then pulled back before the close. --------------------------------------------------------------------------------------------------------------- Today's Plan - We have 6783 as our first support with an overnight gap up at 6763 that has still to be filled and the overnight high of 6794. We have a straight-forward plan for today. Ideally, we can pull back and close the 6763 level, reclaim 6768,6772 and move up the levels. IF, price can reclaim 6789, we should retest 6800 and potentially move up to the weekly targets. Highest quality setups are the following: 1. Flush of 6753 and reclaim for a move higher 2. Flush of 6741 and reclaim for a move higher 3. Flush 6763 and reclaim for a move higher These are the 3 main levels; I am looking to grab points from. Key Support Levels - 6772, 6763, 6753, 6747, 6741, 6720, 6705 Key Resistance Levels - 6794, 6800, 6807+ IF, price rallied above 6794 (Overnight High) and then comes back into the overnight range after the NYSE Open, and ES starts to sell off fast, DO NOT try and RUSH into grabbing points. Wait for it to build a base at one of the levels outlined above. I will post an update around 10am EST. ---------------------------------------------------------------------------------------------------------------- Couple of things about how I color code my levels. 1. Purple shows the weekly Low 2. Red shows the current overnight session High/Low (time of post) 3. Blue shows the previous day's session Low (also other previous day's lows) 4. Yellow Levels are levels that show support and resistance levels of interest. 5. White shows the trendline from the August lows