ES - November 14th - Daily Trade PlanE-mini S&P 500 FuturesCME_MINI:ES1!jhill1618November 14th- Daily Trade Plan - 6:45am *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. -------------------------------------------------------------------------------------------------------- You can read the trade plan from yesterday and see that we had a couple of quick flush and reclaims at the levels outlined, but we did not see any follow through to take us higher. That was our first big red day in a while and as I have stated many times that when price is flushing down, you DO NOT step in the way and try to pick bottoms. Let price reclaim a core level and let it accept that level by 4-5pts and then enter as you see structure building. I wrote yesterday on my note at 3pm - We are coming into the 0.618 retracement of November low to high that is at 6747. This could be a low that produces the short squeeze into the end of the day. IF price does not close above 6765, we will probably have to test 6706 then 6654 in the coming days. PPI tomorrow at 8:30am and I expect more volatility. Price has to reclaim 6890 to keep price moving to ATH's. IF we close below 6654 this week, it would be bearish and could represent a broader pull back in the coming weeks/months. When price sells off like it has today, we will get a squeeze. Just don't know when. We did get a 30pt bounce at 6747, closed the day at 6761 and price was a magnet to the resistance of 6775. We lost yesterday's low after the European open and we have been moving lower and are currently at 6713 in the overnight session. I have mentioned many times that with such a strong sell off, we will get an equally strong squeeze. Since we have PPI at 8:30am, we could get that squeeze today. My job is not to guess when that will happen, but to take a trade one the recovery of a strong level that can help price squeeze higher. Key Levels Today - 1. Flush and reclaim of 6713 (Current Low as I type this) 2. Reclaim of 6731 3. Reclaim of 6746 (Yesterday's low and highest quality level) Below we have the weekly low of 6691-95 or 6654. Any flush of these levels and reclaim should give us a very strong squeeze similar to last week's Friday flush! Patience will be key today and IF price finds a strong low today, we will see it and need to react in real-time. 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 Levels are previous day's session High/Low