*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*
Overview:
- Today was another range day as the indices work on some wave 4s
- It’s too soon to determine if the wave 4s are complete or if we will see more chop tomorrow before breaking out
- I have used $ES to illustrate the more bearish possibility and $NQ for the bullish version — Overnight action will determine which count plays out
- Either way, I am expecting new ATH’s in the near future as long as 4750 holds
- $RTY appears to have formed a 1,2 off the lows. If this breaks to the upside I would expect the other indices to follow.
Setups:
- Setup: 4-1,2
- Confluence: Strong Algo, Bull-flag breakout
- Trigger: 2H Reversal from fib zone
- Conditions: Reversal must have impulsive structure
- Setup: 1,2-1,2
- Confluence: Fib confluence, Oscillator divergence
- Trigger: 1H Reversal from fib zone
- Conditions: Must trigger before $NQ reaches ATH’s
- Notes: Ideally this gaps down tomorrow. From there I’ll be looking for impulsive action that takes it above 3390
$SNOW Long:
- Setup: 4-1,2
- Confluence: Demand, strong algo
- Trigger: 30m Reversal from fib zone
- Conditions: Must reach fib zone before breaking today’s high