ES Trade Plan For CPI
A Recap of Today's Price Action & Setups:
OVERNIGHT:
🔥 Battle Plan (1️⃣) for 10-30 points last night.
Battle Plan (1️⃣) played out three times before RTH Open.
I took the first setup last night and captured 14 points total.
The second time.. around midnight... ES ran 60 points.
The overnight session had very clean entry opportunities, and I contrast that with how difficult it was to get entry in the RTH session.
RTH AM TRADING:
If you were with us on the YouTube live stream or Zoom today, the first thing you saw when you popped on was the sign... Range Rules Rule!
Range Rules Rule.. yet again today!
Battle Plan (1️⃣) for the win again... but entry was crazy difficult, and the target seemed fair away.
The slow grind of death continued.
Then.... after nodding off twice at the keyboard... ES did it!
Target hit!
70+ point move from mapped entry location.
See the chart below.
We can't complain about that!
Even if you don't get a solid entry... and all you do is watch... it is reassuring to see the Battle Plan trades perform.
If you keep looking for the right trades in the right trade locations... the odds of success dramatically increase.
TAKE PROFIT:
Note that the mapping stopped just shy of the Strong Level, as it was intended to be a great area to "Take Profit".
It was an aggressive "Take Profit" target to begin with... as we are up nearly 270 points from Battle Plan (6️⃣) from Sunday!
So taking profit just prior to the Strong Level would have been a good move... IMHO
Green Over Greed is my motto.
Take a closer look at what ES did when it reached the target.
It slammed back in.
KEY IDEA:
Had you taken your profit right before the Strong Level... as mapped... you would have had zero intraday trailing drawdown.
That might be important for folks who trade prop firms with intra-day trailing drawdown.
See the chart below.
TIP OF THE DAY
Tomorrow is CPI.
What does your trade plan say about trading on CPI?
Is it allowed? Restricted?
Do you adjust your leverage matrix?
One and done?
Just watch for the love of price action?
QUOTE OF THE DAY
Trading under stress? That's a red flag worth journaling.
TRADE OF THE DAY
BATTLE PLAN:
🔥 Battle Plan (1️⃣) for 10-30 points overnight.
🔥 Battle Plan (1️⃣) for 70 points at perfect outlined Take Profit.
BTW, had one been long from Battle Plan (6️⃣) on Sunday night and moved your stop behind Battle Plan (1️⃣) from last night as a "protection level", you would still be long, capturing nearly 250 points !
ZOOM:
NADA
CORE STRATEGY: (For Full Members)
A couple minor FS/BL longs for small.
A couple 3M FS shorts.
One of the 3M FS Shorts ran for 60+ points. I took that one.
Smalls... but smalls add up! This reminds me of the late Frank from Antique Archaeology fame.
The day before CPI... we moderate expectations!
SCOREBOARD
Accumulated Points This Week
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