*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:
- Price dropped to the lower demand zone today but managed to find a bounce. As long as this level holds, the w4 thesis remains highest probability. I will continue to focus on longs above 4055.
- Unlike $ES, 3H demand remains untested. If $ES heads to the distal (bottom line) of 3H demand, I will be looking for $NQ to find buyers at the proximal (top line) of the 3H zone.
- $YM held up at 3H demand today. Looking for a bullish day tomorrow… otherwise there may be trouble looming for the bulls. Additionally, take note at the liquidity sweep circled above – study that area. I suspect we may see a similar reaction on a higher time frame from ~34,030.
- $ARKK does not agree with the other indices. While they are more bullish, $ARKK remains stubbornly bearish. I will be keeping a close eye on growth to see if any hints can be found.
Setups:
- Setup: Price rallied from just a few ticks above 90m demand. Price has now set up a 1,2-1,2 formation with new 20m demand. I will be looking for longs from this new demand + .618 zone
- This setup will only come into play if indices venture deeper into demand. In the case such an event, I will be watching for a reversal from 145-46 along with an index bounce.
- This setup will come into play if the indices end up taking a more bearish route than expected – if indices are strong I will be very hesitant to take this short. In the case of a bearish market environment, I will be looking for a LTF (Low Time Frame) entry to develop from this 10m supply zone. The 1H reversal structure is complete and a 10m reversal structure is in progress.