Trade Plan, Week of July 1st
Weekly / Daily Plan ES & NQ
Traders,
I hope you all had a great weekend!
The past week started rough but ended strong for us.
Let’s do a recap and have a great week ahead.
Recap of Last Week (ES).
As per the weekly plan, we were bullish above 6018 and bearish below. This level went bid last Sunday globex once the London session opened for business, and sellers failed to gain traction below even during the NY session. The result? A 200 point rally into new all time highs (62xx!!). Each and every dip was bought. The beginning of the week was difficult as we tried intraday shorts which we had to either cut early or just eat the L. Luckily for us, we did NOT depart from our strat and tried a short on Friday at an average of 6232 ES. We managed to make mostly all of our stops back and we are back on track to printing yet again.
Below is how the market reacted to our pivot from the weekly plan, our pivot being 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 the week for business at 6224.
Market Structure.