Some ideas for tomorrow * $ES_F #NFP

I am trading less.

Lately, several other matters have provided me with some time off the screen during the day. This has had a positive effect, both on my trading and other parts of life that occupy my time and energy, as well.
As it follows, I left the session around late US morning, but glanced at the screen before taking off pretty much within 3/4 of 15+ pts. selloff on the ESU.
Closed the door of my office with the prospects of a nasty day developing and had no possibility to check what was going on, during the afternoon.
A few hours later a heavy buying response materialized into a 28 pt. rally, was welcoming back into my desk. As noted throughout many posts, I tend to pay special attention to the hints that price action provides.
Vertical developments are one of them in the sense that I tend to read them as information about the intention of higher time frame players. It -usually- provides energy for continuation, unless a -fast and important- response is provided, usually within a short period of the preceding move. Although there are several alternatives -consolidation/distribution, followed by heavy selling, for example- the behavior cited above is a typical/textbook scenario.
Tomorrow is one of those days. Anything can happen.
In lieu of the above, here are some ideas on the possible outcomes that I have been working with.
The following are some of the references I use to guide my trading. The idea is to draft a playing field that works as clusters/areas into which price action will likely develop.
The intense response rejecting constructive for the buyers, with ESU bouncing back from levels not seen since 30 days ago, on May 3rd.,1596.
The 53 pt. range between 1645-1596/92 would frame an area of interest.
Tighter contained, I am watching an area limited by 1632/30-1611, which includes almost all of yesterday´s (June 5th) range. (marked in white).
1620 is another price level to watch within the range and likely the first line of support. Below, 1612 is another PP to watch.
Downside Scenario.
A brake below 1620, will set the ES to 1593, via 1610-1607. 1596, 1587 &1580 are other PP´s to watch in a downside hypothesis.
A Brake Out of Balance To The Upside.
Alternatively, a positive reaction to the upside will brake 1632 to face 1636 as a first PP, followed by 1641, 1647 & 1655 area -at least for now.




One thought on “Some ideas for tomorrow * $ES_F #NFP

  1. Pingback: End of The Day/Week Wrap Up + levels to watch * $ES_F | Demian Pack

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