ES - October 8th - Daily Trade PlanE-mini S&P 500 FuturesCME_MINI:ES1!jhill1618October 8th- 6:55am 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. ----------------------------------------------------------------------------------------------------------------- Yesterday, I stated the following in my trade plan "IF, price rallies above 6792 (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." What happened when we made a high around 6802 at 9am and price fell back into the range? We sold off and anyone that was not patiently waiting on levels below with a good entry strategy, would not have been profitable. You can review my real-time notes on the 2 trades that I took and can also play back the price action and see that we hit the 6747 green level exactly and have been moving higher since that low yesterday. ------------------------------------------------------------------------------------------------------------------ Let's get into today! You can look at the 15 min chart and see a nice set of higher highs, higher lows since the low yesterday. What does that mean? We can easily understand that the trend is up and until that most recent lower low is taken out, we should continue higher. We are coming into the overnight high of 6774 and our low of overnight session is at 6758. IF, price can clear 6774, we should back test the 6783 level. Any loss of 6763 is a warning sign that we could head lower and a loss of 6758 would most likely produce a retest of the 6747 low. Highest quality setups are the following: 1. Flush 6758 and reclaim for a move higher 2. Flush of 6747 (down to 6741-43) and reclaim for a move higher 3. Flush of 6741 (down to 6737, 6732) and reclaim for a move higher These are the 3 main levels; I am looking to grab points from. Key Support Levels - 6763, 6758, 6747, 6741, 6732, 6715, 6705 Key Resistance Levels - 6774, 6783, 6792, 6800, 6807+ IF, price rallies above 6774 (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