#ES Futures 06.09.22 Daily Overview and Levels to Watch

٩ يونيو ٢٠٢٢

Yesterday played out pretty much as first expected, was able to actually call the high and the low within a few points as mentioned I thought we might stay in tighter range between 4157 and our 4103-4099.75 level and we did. Today Globex attempted to break out of our Key Resistance at 4143.75-4137.50 and failed which trapped a lot of people, with that fail I will be looking for us to test the opposite side of this range and our Key Support at 4084.50-4077.25 I believe we should have enough supply to take it out but then we have to monitor how much extension we get and if we accept or come back in. On the downside if we get under 4103.25-4099.75 we can see Key Support at 4084.50-4077.25 and lower levels that I would like to see hold are 4061.50-4056.50 and especially 4046-4042.25, ideally if we will have a fail and come back in we will not break both of those but if we do we have next Key Support at 4030.75-4025.25 to keep in mind. On the upside if we again cant take Key Support which is also our T+2 low for the day then we can see rotation back up or what I will be watching for is a flush of that area and see if we can find buyers at lower levels that will bring us back into this range and that would confirm for me that most likely we are out of supply and can see higher levels of 4103.25-4099.75, 4123.75-4119.25 and Key Resistance at 4143.75-4137.50 and if that does happen today or tomorrow then we can see a run from the Key Resistance up to the next one at 4220. Have to manage expectations as we are still in tight range but today we already seen the signs of it breaking.

٩ يونيو ٢٠٢٢

تعليق

Downside trade played out today and I completely missed it, took a few trades from above our 4103.25-4099.75 level down towards the Key Support at 4084.50-4077.25 but by the time the actual trade happened which took out the support and tested the lower levels we thought we might test I was already very cautious thinking we might get another small range day until CPI tomorrow and that support wont break, then I sat and watched it sell off level by level down to next Key Support area of 4030.75-4025.25, still a great day with 15-20point shorts but sour that I missed the trade I was waiting for. Lets see what we get tomorrow, we sold off more than I would have liked so will have to wait and see what we do next, want to see if in Globex we can get back over 4030.75-4025.25