Traders,
I hope you all had a great trading day.
One trade +25 ES points in the room.
Let’s do a quick recap and go straight into a plan & levels.
Session Recap (ES).
As per our weekly plan, we were bullish on Emini futures above 6266 and bearish below. We mentioned last week in the telegram room that we were looking to short excursions and “did not want to be long” above 6308. We attempted a short last week but had to cut it due to mistiming. This thesis did end up working however as the market eventually re-offered 6308 and stayed offered into RTH. We did not trade our pivot until RTH, but we did end up taking a short above it anticipating an offer below. We were looking for ES 6245 and essentially got it. +25 ES points on the short in real time.
Below is how the market reacted to our pivot, which is illustrated by the blue line.
I highly recommend joining the room now as prices are still lower than usual. They will be incrementally raised week to week to return to the normal price.
Spooz closed for business at 6275.
Market Structure.