50+ Point Short | ES Chart | Tuesday Live Trade Room
OVERVIEW
50+ Pointer
Yesterday's price action suggested ES could be establishing a new trading range, so I mapped out two possible short ideas using the "Proposed Range". In fact on Zoom I called it the "proposed range" because until we can test the bottom and come back inside. It's not an official range... according to little ole me.
Live on Zoom and YouTube this AM, we had our eyeballs on Battle Plan 4️⃣ as a possible short entry... With the ultimate goal of traveling to the opposite end of the "proposed range".
On Zoom, I laid out exactly what I was looking for...
"I want ES to fail to grab the overnight high and slam back under the open and VWAP. At that point I'd be up 20 points from Friday's short and will look to add to my trade"
Although price did not slam under the opening and VWAP, it did get under the opening and VWAP. I took that as an opportunity to add to my winning short from Friday... and many members got short as well
🔥 Luckily, several members held a lotto runner for an amazing 50+ point trade.
I recommended they set their stop and close their platform.
Most people can only hurt their winning trade by having their DOM open, thinking they need to manage their trade when actually what they need to do is walk away.
What a beautiful trade!
This is what we do... looking for the right trades in the right trade locations and holding a runner just in case.
After entry we were looking for price to rotate to the bottom of the "proposed range" as an outsized target.
TIP OF THE DAY
Trade location is paramount when selecting whether to go long or short.
And at least once a week, holding a runner really, really pays.
QUOTE OF THE DAY
Don't explain your philosophy. Embody it. — Epictetus
TRADE OF THE DAY
BATTLE PLAN
Battle Plan 4️⃣ Short as outlined last night and traded live this morning on YouTube and Zoom.
As remarked on Zoom and YouTube this morning, I would take profit at 50 points on the add-on and I did that around 1:30 p.m. Eastern as we dropped into the deeper part of Battle Plan 1️⃣ zone. See the chart below
If you're short and price drops into a Battle Plan long zone, that's a solid spot to take profit on a contract or two — or pull your stop in tighter. You do you.
Battle Plan 1️⃣ would have been a hard long to take once we started the move to the south. Due to the current price structure at the time, I'm not even sure where you would put your stop loss.... thus, No trade!
Messy messy price action around Battle Plan 1️⃣. It certainly did not fall in the category of an easy entry with a small stop!
Call me crazy but... I like those easy entries with small stops.
I told the group on Discord, "Battle Plan 2️⃣ and Battle Plan 3️⃣ has my eyes."
Since I was already short, my only job was to stay short with my "original" Lotto Runner from Friday... playing perfect chess.
ZOOM
60+ point short.
CORE STRATEGY: (For Full Members)
A few trades for sure. I spy a backside, front side, and break level shorts for sure.
Be sure to do your end-of-day chart.
SCOREBOARD
Accumulated Points THIS Week
View The Trade Setups
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