Recap Last week:
Hello traders, Last week ES futures closed up mere 28 points from its open for June contract. It traded up 4009 and down to 3839 a good 170 point range. As usual we kept on extracting points as usual with minimal risk as always. Some tweets related to those.
Playbook for next week:
As a trend trader I have setups that are only looking for next 20 points on ES as a day trader. Of course some time that opportunity may turn into 50 to 100 points and we always have runner that takes advantage of that but we do not hope that market will move 100 pts every day and that’s simply unrealistic. We do not swing trade. Every trade is closed on same day with only runner left for over night session.
Just like last week we are still battling 200 DSMA but over all lean remain sell rallies mode until we can break above 4040 the magic number. This week main levels I am watching are 4040, 3972, 3952, 3886. Rest of the levels, live setups and other educational content as it happens are posted on private telegram. Next week is going to be focused on FOMC as well as banking system. Let’s see what Fed does and we will react accordingly. For Sunday open pl use levels from Friday that were given on sub stack and private telegram
If you subscribe to telegram then it includes daily levels and thoughts as they are also posted on private telegram.
Offline subscription option: As many people are interested in only levels and thoughts every day, I have created sub stack monthly & yearly option just for that now, these options does not include intraday trading on ES futures that I post on telegram. I may start posting some longer term ideas on it but for now its just levels and some short/long ideas. If you subscribe on sub stack as founding member then it also includes private telegram.
Econ for the week:
Tuesday, March 21, 2023
10:00 EST Existing Home Sales
Wednesday, March 22, 2023
14:00 EST Fed Interest Rate Decision (Forecast is 0.25% hike)
14:30 EST FOMC Press Conference
Thursday, March 23, 2023
08:00 EST Building Permits
08:30 EST Initial Jobless Claims
10:00 EST New Home Sales (Feb)
Friday, March 24, 2023
08:30 EST Core Durable Goods Orders (MoM) (Feb)