ES - December 5th - Daily Trade PlanE-mini S&P 500 FuturesCME_MINI:ES1!jhill1618December 5th- Daily Trade Plan - 7:30am *Before reading this trade plan, if you did not read yesterday's take the time to read it first! (You can view the 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. -------------------------------------------------------------------------------------------------------- We had a nice push higher into the close yesterday and set the overnight low at 6861. This low produced a nice bounce for about 25pts into the overnight high of 6886. Technically we continue to make higher highs and higher lows. We are coming into some key resistances that will determine if this consolidation range has been distributing or accumulating by the institutions this week. We can see clearly on a 1hr time frame chart that 6836 was our last big dip yesterday that produced a nice rally yesterday afternoon and into the overnight session. Price needs to hold 6818 for this trend to continue. Ideally, we can get one more big flush below 6836 and quickly reclaim for a quality failed breakdown. Flush and reclaim of the overnight low at 6861 is another quality level to look for. 6874 is the lowest quality level but might be all we get. Key levels today 1. 6874 flush and reclaim (lower quality) 2. 6861 flush and reclaim (high quality) 3. 6847 flush and reclaim (Can wait for reclaim of 6861 for higher quality) 4. 6836 flush and reclaim (might only get to 6841 or 6847) IF price does clear 6897-6900, we should continue higher into the 6952 and then ATH's. IF price loses 6836 and cannot quickly recover then we could be in for a strong sell off below. I will with 6812, 6801, 6790 being the top 3 levels I will be looking for points. Below these levels and price will most likely be selling off and I would be getting out the way and let price find a level below to reclaim and move higher. I will post an update around 10am EST ---------------------------------------------------------------------------------------------------------------- Couple of things about how I color code my levels. 1. Purple shows a current or prior 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 shows core support/resistance levels 5. White shows overhead resistance/targets