E-mini S&P 500 Futures (Dec 2014) discussion
ES1! Going to 7k
NQ1! caught almost 35 points on that. Let's round down and say I only took 25 points. Beautiful setup. Hasn't even fully broken out yet but I decided to take a risk and grab it at bottom trendline. Might be a fake breakout but I took what I wanted out of it. See my trades screenshot on lower timeframe. Red arrows = sell. Blue arrows = buy.
ES1! 
SPY 
QQQ
ES1! Red dildo time
ES1! Closing directly at 5,800.00 🤔🧐🤨
ESZ2024 Looking out for premium prices later on today.$5,773.25 up for grabs, targeting buystops
SPY ES1! Yesterday was bearish and in line with the uptrend breakdown and retest I've been talking about in Premarket since Thursday. If I had millions and millions to trade with, and was trying to play the 550 gap fill, where would I want to get involved short?1. We've got a big gap and supply area over the past week up at 572. This would also be a gap fill and easy lower high. Great entry. 574 risk for 550 reward. $2 vs $22 is greater than 10:1 odds.
2. We had supply at yesterday's action at 570 on the 62% retrace. $4 vs $20. 5:1 odds
3. Immediately. If the play is 568 down to 550 with a risk level at 572, that's a $13 move with a $4 risk. 3:1 is good enough odds to invest immediately.
So, my plan today is 1) short only, and 2) to play futures rather than 0DTE options since prices there are gonna be silly. I'll spend one bullet immediately. In at 5753 at the top of the premarket descending wedge. Then, look at how things react to 569 at the open. If we blow up through it, I'm spending another at both 570 & 571. And saving my last two shots for 572. If we selloff immediately, everything moves down one, so I'd buy at open, 569, 570, and 2x571.
Take profit levels are 565, demand+aVWAP from the low. Then 558 and golden pocket fib level + demand zone at 555. The most we would reasonably expect to see for an intraday selloff (-4.4%) is 542, so I'll keep that level visible on my charts for perspective, to keep from thinking $0.30 is a big move, but I don't think we'd drop any lower than 553 on a continuation day. A measured move would be 559 or 563 depending on how you do it.
