5/21 Daytrade Idea ES500PO3 Set up, hoping for price to deliver quickly to our targets. Looking to see price pass previous daily high but also keeping in mind upcoming FOMC talks that may effect the sentiment.Longby WhoIsOnyxDoe0
Roadmap for Indices Amid Fed Speak and EarningsE-mini S&P (June) / E-mini NQ (June) S&P, yesterday’s close: Settled at 5331.75, up 4.50 NQ, yesterday’s close: Settled at 18,763.00, up 127.75 Tech started the week off strongly with E-mini NQ futures notching a gain of +0.7% to the E-mini Dow’s loss of -0.5%. Chips led with usual suspects like NVDA and MU having banner sessions and the Semiconductor Equipment space, KLAC, AMAT, and LRCX also doing the heavy lifting. As for the E-mini Dow, more stocks fell than not, but the downside was led by JPM on news CEO Jamie Dimon is closing in on retirement. After the bell yesterday, PANW missed guidance and is down about -8.0%, while LOW topped estimates this morning and is up more than +1.0%. The first half of the week culminates into NVDA’s earnings Wednesday after the bell, but between now and then a barrage of Fed speak continues to hit the tape with Fed Governor Waller, Richmond Fed President Barkin, NY Fed President Williams, and Atlanta Fed President Bostic all set to have comments hit the tape in the 8:00 am CT hour. E-mini S&P futures eked out a small gain yesterday, and struggled at what was key resistance at 5343.25-5349 for the second session in three, this is now adjusted to major three-star resistance. Similar overhead resistance has been adjusted in the E-mini NQ to align with yesterday’s new all-time high, now coming in at 18,761-18,795. With things consolidating buoyantly to start the week, we will look for continued price action above our Pivot and point of balance through the first hour after the opening bell to set a tone leading to new record highs. In the case of a bit more volatility, a firm response to first key support will keep that buoyancy on track. Bias: Bullish/Neutral Resistance: 5336.75*, 5343.25-5349***, 5400-5420.25***, 5459.75-5474.25*** Pivot: 5331.75-5333.75 Support: 5323.75-5327.25**, 5312.75-5315.75**, 5303.25-5308.50****, 5286.75-5292.75***, 5269.50-5274.25**** NQ (June) Resistance: 18,761-18,795***, 18,825***, 19,085***, 19,319*** Pivot: 18,707-18,732 Support: 18,620-18,635***, 18,532-18,547***, 18,446-18,485***, 18,415**, 18,336-18,371**** Micro Bitcoin (May) Yesterday’s close: Settled at 70,435, up 3,070 Bias: Neutral/Bullish Resistance: 71,500-71,935***, 74,100**, 75,795-76,200*** Pivot: 70,435-70,840 Support: 69,945**, 68,829**, 67,365-68,035***, 66,280-66,535**, 65,445*** Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results. by Blue_Line_Futures0
Over night fun with ESAll the info you need is in the photo :) I think this will be an over night move and if we pull back into that liquidity before the market opens thats your manipulation phase of the wonder PO3Longby WhoIsOnyxDoeUpdated 0
Trading Plan for Monday, May 20th, 2024Trading Plan for Monday, May 20th, 2024 Market Sentiment: Bullish, consolidating after a historic rally. Key Supports Immediate Supports: 5309-11 (major), 5302 (major), 5294 Major Supports: 5267-72 (major), 5232-35 (major), 5208-11 (major), 5150-55 (major) Key Resistances Near-term Resistance: 5329, 5333 (major), 5342-5345 (major) Major Resistances: 5375-77 (major), 5404-07 (major) Trading Strategy Consolidation & Pattern Formation: The market is in a post-rally consolidation phase, likely forming a bull flag pattern between 5309 and 5342. Expect choppy trading with potential for breakouts or breakdowns. Long Opportunities: Wait for a test of 5309-11 support, followed by a bounce and reclaim above 5317, as a potential long entry signal. Short Opportunities: As always, avoid shorting green candles and breaking trends. If considering shorts, wait for a confirmed breakdown of 5302, then look for an entry around 5300 after a bounce or failed breakdown. Level-to-Level Trading: Focus on scalping profits within the range as the market consolidates. Exercise patience and avoid overtrading in this choppy environment. Bull Case Bull Flag Continuation: The market may continue to fill out the 5309-5342 range, potentially leading to a breakout toward new all-time highs. Target 5359 and 5375-77 in this scenario. Adding on Strength: Monitor overnight action for potential flagging above 5309 and below 5219 as a possible entry point for adding to long positions. Bear Case Breakdown Signals: A breakdown below 5302, with confirmation from a bounce attempt and rejection, would signal a more significant correction. Use caution with breakdown trades as they are prone to traps. News: Top Stories for May 20th, 2024 🇨🇳 Steady Benchmark Lending Rates in China: Amidst ongoing efforts to stabilize the property sector, China's central bank has maintained its benchmark lending rates. This decision follows a series of bold measures aimed at addressing challenges in the property sector, highlighting the delicate balance the government seeks to maintain in its economic policies. 🏦 Federal Reserve's Upcoming Policy Meeting Minutes: Investors are keenly awaiting the release of the minutes from the Federal Reserve's recent policy meeting. This document is expected to provide critical insights into the Fed's economic outlook and future policy directions, influencing market sentiments and investment strategies. 🌐 Geopolitical Tensions and Trade Policies: The global trade environment remains tense as geopolitical issues continue to unfold. Notably, the U.S. President's decision to raise tariffs on Chinese goods has reignited debates over the economic impacts of such tariffs, with potential repercussions for international trade relations and domestic economies. 📉 Global Market Reactions to Mixed Economic Data: As the world economies emit mixed signals, global markets are poised for a potential summertime rally, albeit with an awareness of the risks that could derail such optimism. This scenario underscores the complex interplay of economic indicators and market psychology in shaping investment landscapes. 🏦 Regulatory Adjustments and Financial Sector Implications: Discussions among regulators about reducing proposed capital requirements signify a shift that could enhance the clout of banks. Such regulatory adjustments are crucial as they could affect the stability and operational strategies of financial institutions globally, reflecting broader trends in financial regulation and oversight.Longby spytradingpro1
ES Long IdeaI think ES will see a nice bounce if it retest this trendline it just broke out above.Longby AdvancedPlays0
Quick ES Setup RecapJust a quick entry setup recap in the midst of today. Overall, we are still basing within the range I posted Saturday though. CME_MINI:ES1! CME_MINI:MES1! by ESMorg1
BUY IDEA S&P 500-E MINIThe S&P 500 index can be bought in two specified support areas in two steps and profit from it up to the specified targetsLongby Ali-Rezaei-FX111
5/18 | $ESLast week, we were expecting a dip and rip. That is exactly what we got! However we dipped a bit less than expected, hence why I never alerted a big buy signal. Missed the easy move to new all time highs. On Friday, we saw end of day strength, creating a few gaps of interest below. Lower time frame areas of interest around 5317 and 5310 looking for support. If those fail, watching 5295 as a strong support. by StonksSociety0
Just picturing in my charts what I think will happen next weekLong, trap for buyers coming soon. Overall market been oversold for years when will we dig deeper is the questions for me every quarter... a broken clock has to be right at least once ??Longby zaewayfx0
Short term analysis for ES or MESCME_MINI:ES1! Broke out a 1 month flag on May 6th (in white). This pushed us to all time highs and now the spot buyers want to get over for next week is the 3 month megaphone resistance at 5349 area (in green). Get above there and buyers can push for 5374. If sellers want to dip us this upcoming week, it can start on the fail of 5302. which will target 5274 area. now realize, it has been one hell of a run, coming off 10 straight greed days. Consolidation between 5302-5349 is ideal for Monday in my opinion. Only time will tell! by ESMorg1
ES1!, big picturePutting on my bear hat this morning and reflecting on how difficult the move up from October 2022 low has been to interpret, from an Elliott Wave perspective. If you were trying to convince yourself of a major market top and completed five-wave impulse, I think this is how you'd have to do it. Wave ((5)) ends of being an expanding ending diagonal off October 2022 low. The price action off the October 2022 low has just been "weird". If you are a bull, you might see a leading diagonal and running flat to get wave ((5) started. Bears likely see double and triple-threes until the move up off October 2023 low. I think the thing that supports this idea the most is the parallel channel that connects waves ((1)), ((3)), and ((5)) and supports ((2)) and ((4)) of this proposed wave count. I'm not saying this is my primary count, but it is a count I am following.by discobiscuit1
S&P 500 Hitting Heavy LiquidityES1! showing signs of heavy resistance to price movement, AKA liquidity in this rarified air. The daily ranges for the previous two trading days will be monumental in the market deciding its direction, as there is a lot of interest packing in at these levels. 5287 to 5349 are the outer limits with 5318-to-5323 also being important inflection points as this plays out. Volume has notably been low during the melt-up that got us here, but this low influx of volume has seemingly run into a wall of resting orders. I lean short, but will wait for confirmation either direction. by PrestigeWorldwideTradingCo1
ES Daily UpdateAt this point you gotta figure the daily is gonna go overbought before this stupidity ends, lol. My 3hr indicators should go oversold Monday, guess I gotta go long.by hungry_hippo6
ES Futures Double Top Rejection- 3 Failed tests on 4h timeframe - Price breakdown (hourly bear flag) - Price targets: 5226.75, 5153.75, trailing stop - Stop Loss: 5350 (break into ATHs)Shortby Eclipse_TradingUpdated 0
ES Hourly Bear Flag- Strong rejection of a key level - Bearish structure formed at top of range - Possible exhausted bull run?Shortby Eclipse_TradingUpdated 0
ES High of Day FailureES failed to break above high of day earlier. OPEX typically leads to chop, but I'll be watching to see if we can get any momentum tonthe downside. Shortby AdvancedPlays0
Trading Plan for Friday, May 17th, 2024Trading Plan for Friday, May 17th, 2024 Market Sentiment: Uncertain, as the market shows signs of fatigue after 10 consecutive green days. Traders are anticipating a pullback and adjusting strategies accordingly. Important Note: It's OPEX Friday, which often leads to choppy price action and pinning (price moving a lot but ending near the starting point). Exercise caution and be prepared for potential traps. Key Supports Immediate Supports: 5309-11 (major), 5294 (major) Major Supports: 5271 (major), 5249 (major), 5217-20 (major) Key Resistances Near-term Resistance: 5329-31 (major), 5342 (major), 5361 (major) Major Resistances: 5398-5400 (major), 5433-36 (major) Trading Strategy Post-Rally Caution: The market is overdue for a correction after the recent parabolic move. Prioritize protecting profits and consider reducing exposure. Long Opportunities: Look for failed breakdowns at 5309-11, followed by a reclaim above 5314, as a potential long entry point. Short Opportunities: As always, avoid shorting green candles and breaking trends. If considering shorts, look for a test and bounce/failed breakdown at 5309-11, then consider shorting at 5306 for a move down the levels, exiting all runners at 5294. Proceed with extreme caution as shorting in an uptrend is risky. Level-to-Level Focus: The breakout from the downtrend channel has created a volatile environment. Trade the provided support and resistance levels rigorously and take profits aggressively. Bull Case Holding Support: Defending 5309-11 is crucial for maintaining short-term bullish momentum. A hold here would allow for further base-building and potentially another leg up to 5330, 5342. Bear Case Breakdown Signals: A convincing break below 5309-11 triggers a more significant dip. Consider shorting at 5306 after a bounce/failed breakdown confirmation, with level-to-level profit-taking. News: Top Stories for May 17th, 2024 🌍 Eurozone Financial Stability Risks: The European Central Bank has issued warnings regarding the fragility of financial stability in the Eurozone amidst ongoing geopolitical tensions and policy uncertainties during a significant election year. 💼 U.S. Defense Spending Surge: Recent U.S. military budget allocations have reached new heights, with significant implications for global military and defense strategies. 💰 China's Treasury Sell-Off: In a notable shift in financial strategy, China has reduced its holdings of U.S. Treasury and agency bonds, marking a record sell-off that underscores evolving trade and economic relations. 📉 Federal Reserve's Interest Rate Strategy: The Federal Reserve signals a cautious approach towards interest rate adjustments, reflecting ongoing concerns about inflation and economic recovery. 📈 Global Trade Dynamics: A significant rebound in global trade is anticipated, driven by easing inflation and robust economic activities in key regions, promising a shift in international trade flows and economic recovery.Longby spytradingpro0
ES Trades Ideas for the DayES tested the 5333 level several times overnight and couldn't break. It's trying again now whil VX is at the bottom of its range. I'd expect ES to fail here, but it moves above and VX makes a new low I'll have to reconsider my short bias.by AdvancedPlays0
Bonds Giving Back All the CPI Rally. Is the SPX Next?I am really into the bond / stock relationship. Higher interest rates leads to an alternative to stocks, especially when stocks at all-time highs. The huge stock rally on Wednesday was helped by a big bond rally. Now the bonds have given up the entire rally. This could lead to bearish index futures patterns more likely to work.Shortby chrisbrecher0
ES Short IdeaI like this path on ES. If it plays out, 5300 will be a critical test. We could see a move back to 5200 if it doesn't hold. Shortby AdvancedPlays0
ES UpdateCRazy... way overbought and looks like a melt up. Got stopped out of my puts for even money, but I made plenty on the CPI pump so I'm done for the week. Not gonna short anything on Ponzi Friday. I'm not into chasing an overbought market, see ya guys Monday.by hungry_hippoUpdated 336
Fakeout City for ESES had a bull flag breakout and it looked like it was going to hold on a retest but the. It dumped. It tried to break low of day earlier and bounced, VX is barcoding. This bull flag has had a fakeout to the upside and downside no. Most important level for me is still 5300.by AdvancedPlays0
#ES_F Day Trading Prep Week 5.12 - 5.17Last Week : Last week market opened above 5159.25 - 54.25 Key Resistance and gave a pull back/hold of that area showing us that it was holding as Support now. We knew that from there we could either Fail at or around VAH and pull back under that Key area or we could get through VAH and if we hold above that can bring in more buyers to give us pushes towards the above Edge. We were able to push through VAH during Globex session creating a gap which held above VAH during RTH and gave us the first push to the above Edge. Rest of the week we spent consolidating around the Edge / above VAH without being able to push back in or even tag the VAH area which brought in more buyers to create a cost basis around that area and once selling ran out we pushed for next ranges VAL. As we saw from Fridays action we still have sellers at VAL and could not accept above 5249.75 - 44.75 Key Resistance for now, if we remember that area of 5263.25 - 5282.25 above VAL is our previously created GAP to the downside which we created when we first found the top in April, this gap was filled pretty quick but it was so big and still had Supply above so I decided to keep it and we can see on this retest that we still had Supply in it after spending time away from it. This Week : We are at tricky spot here as we now again have a Cost Basis and Support under us but also have Supply with Sellers above, of course this could be a spot for big reversal or for continuation through VAL inside above Value to start spending time in the BUT it could also be a tricky spot where we will spend time between this Supply and Cost Basis areas until market cleans up and accepts higher or lower. Volatility is down and we are getting closer to Summer trading which could mean even less volatility without big money trying to move the markets too much as we are now in a good spot for lower distribution, we can use the Supply above to keep us under and Supports below to keep us up while we clean up and fill orders. Going into this week we are set to open inside 5249.75- 5199.75 Intraday Range, we are inside Previous Day Range and just at or above T2 Range which to me says watch out for slower smaller range trading. Will it be the case ? we will have to see but what we know from Friday action is that we have buyers at 5234.25 - 30.25 which is the top of our Intraday range mean and we will call current Support, we also have buying at or right under 5240-38 area which kept us above the 34-30 with only one good test of it and we have Selling at 5264.75 - 60.75 which will be our Current Intrarange Resistance if we want to try and accept in the above Range, we also need to watch out for 5256 - 54 or so area as well because we have trapped supply over it on Fridays flush, we could spend some time around these above mentioned areas until we can decide if we will accept in the new Range above or if we will build up enough Supply to fill the buyers under 5234 - 30. Yes 5249.75 - 44.75 is still Key Resistance but for now it could act more as an intraday mean between our buyers and sellers and price may want to keep coming back towards it until we can either accept over 64 - 60 and start balancing in that Mean to show acceptance or we get under 34 - 30 into that Mean to fill the buyers. Careful for smaller ranges and quicker reversals, I have observed for now that with good entries market is giving 7-8 point clean moves until the reversals and chop come in, and will sprinkle in occasional 10 - 12+ moves but going into the beginning of the week I will focus on catching more of these 7 point moves from around the levels and not worry until bigger targets until market will show that it has potential for it because its easy to get caught up waiting for bigger moves and either giving back good profit on reversals or while waiting for continuation and end up ruining mental capital, instead can try and catch 2-3 of these 7-8 point moves and have a nice day. Levels to watch : Current Range 5249.75 - 5199.75 Means 5234.25 - 30.25 // 5219.75 - 15.75 Key Support 5204.25 - 5199.75 5240 - 38 and Under still has Buying and 34 - 30 can keep acting as Support longer than we want but if we accept under we need to watch out for balancing between the Means If Accept Over 5249.75 - 44.75 we have 5256 - 54 and 5264.75 - 60.75 to watch out and for price to possibly be coming back towards and under 49.75 - 44.75, would need to start balancing between 5264.75 - 5275.25 to show better acceptance in new range but if anything levels here would be Means 5264.75 - 60.75 // 5279.25 - 75.25 Key Resistance 5295.50 - 90.25 IF Accept under Key Support and Edge Low levels are Means 5188.25 - 84.50 // 5174.25 - 70.50 Key Support 5159.25 - 5.25by HollowMnUpdated 5