4/21 Trade Plan
Hello and welcome to another installment of my daily e-mini trade plan. For any new readers, welcome! In this newsletter I discuss levels, scenarios and market analysis for the S&P500 market.
Hello everyone, finally the market graced us with a spout of volatility! The plan last night was to look to buy dips into 4148 support targeting back up towards 4180 area. This was a good call and we saw a familiar set-up coming into RTH this morning.
The move during ETH was linear to the downside and inventory was short. We’ve seen overnight inventory corrected in 4/4 of the last trading sessions.
We opened the session at 4146 and took that 4148 support level bid instantly. From here we saw the same sluggish grind higher in the morning up to 4170. Sellers entered here and participation picked up. We sold back down into 4148 support when once broke sold another 12 points into 4136.
Then a 20 point spike following MOC! A very good day for intraday traders.
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