*disclaimer: Not financial advice. This is my personal trade plan only. I am not qualified or licensed to advise anyone on their specific positions or trades, I am sharing my personal opinions only. Never make financial decisions based on any information on this site or any associated platforms. Always consult a professional for investment related advice and do your due diligence*
Futures:
Ok folks, there’s a lot happening here. $ES and $NQ are both set up for pullbacks. $RTY, as I mentioned yesterday, remains the key. IF $RTY continues to show weakness as it did today, it unlocks moves down for all three indexes – the depths of these pullbacks are unclear for now, but I estimate $ES would see $4250. As you saw in the discord, I went lightly short into the close. I will be looking for areas to add to those short positions tomorrow as long as the bear counts hold up.
To flip bullish I will need to see:
– Impulsive bounces overnight on ALL 3 indices
– $RTY > 2280
– $ES > 4384
$ES 4H (View)
$ES 30M (View)
- $ES sold off impulsively from the highs following what appears to be a complete 5 wave structure.
$NQ (View)
- $NQ also sold impulsively from the highs. If this is wave 4, it may backtest the breakout from June.
$RTY Bull Count (View)
- $RTY remains tricky, yet very important. The bull count is technically still valid, but very much in danger. $2213 must hold and $2280 must be reclaimed for the bulls.
$RTY Bear Count (View)
- Today’s action looked ominous and impulsive to the downside. If the dip is not bought quickly and with strength, I expect a trip down to roughly $2100. I favor this count as long as $ES and $NQ remain bearish.
Management Plan:
$AMD (View)
- Slight adjustment to my target on $AMD. I plan on trimming at $87.50 and will let the rest run based on price action. This will depend a bit on $ES and $NQ. I also will be ready to add to my short position on a move to the .618.
$X (View)
- Profits were taken already, I only have runner left on my short. I plan to let that run to AT LEAST $23.50, maybe even further (stops at $25.29).
Setups:
My main focus will be adding to / managing my short positions tomorrow. I will have an eye on some bullish swing opportunities but will not be my main focus yet:
$OCGN 4H (View)
- Must get a bounce here… waiting for impulsive action
$TLRY 4H (View)
- $TLRY may get a bounce from $14.50 – I am waiting for that bounce to enter long.
$DIS 4H (View)
- The pullbacks in the indices (assuming they occur) should bring $DIS down for wave 2. I will be looking to start a swing position with a target of $200. This may take a few days to develop.
$ROKU 30m (View)
- This ROKU long setup requires $ES $NQ & $RTY to take the bullish routes. I don’t expect that to happen but the setup is here just incase