*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:
- As this chop continues sideways risk of downside increases. Bulls want to see this consolidation resolve to the upside very soon (tomorrow).
- Tomorrow is the last day of the year so I expect it to be an ‘atypical’ day. I plan on being a bit extra cautious
- If 4750 fails, we could see an impulse down off of today’s high
- While $ES made a new high today, $NQ did not. This supports the bull count as $NQ is missing the 5th wave. However, similar to $ES, this wave 4 is getting quite extended compared to wave 2. Time is running out, if bulls are going to complete this impulse it needs to happen very soon!
Setups:
- Setup: B-1,2
- Confluence: Fib confluence
- Trigger: 30m Reversal from fib zone
- Conditions: Reversal must have impulsive substructure
- Setup: 4-1,2
- Confluence: Algo Divergence, Demand, Channel breakout/backtest
- Trigger: 2H Reversal from fib zone
- Conditions: Indices must be bullish
- Setup: 1,2-1,2
- Confluence: Divergence on w2, Algo strength
- Trigger: 2H Reversal from fib zone
- Conditions: Move into zone must be corrective. W1 Must complete before reaching $130