Busy, busy, busy

Work has been busy for me the past few months. I have still been trading and evolving in between work. I am always surprised with the amount of correct info that i learn of as i continue my journey. I thought i "had it" then i would get smacked around a bit and realize i was still missing something. I have revisited some books that i read a while back to refresh myself of the things that i thought i knew. I have been tweaking my approach to the markets as i learn that what i was doing didnt work. i still use the same methodology but just use it in a different way.
 My morning trade plan has become more concise and actionable as opposed to just stating the obvious. I feel as if im getting a better read on the market day after day. Its really tough to self coach because you have to be on your toes and realize when you have done something wrong either with your mindset or strategy. And you have to be willing to make the necessary adjustments in order to continue your development. I have certainly realized the trap of thinking that by starring at the charts all day is constructive learning when i fact all i was doing was just that ,starring at the charts and waiting. So i continue to march forward...

Pre market analysis 8-4-11 Thursday

News: jobless claims @ 8:30AM,

Trade plan and Price action analysis: (Trade plan) Yesterday ES had a reversal day. We traded down below the march swing lows and buyers were active pushing ES back above. Buyers stayed in control for the remainder of the day and closing on the highs. Globex traded up into 64.25 resistance area and trended lower throughout the night and bounced at 1240.50 which was HVN and LVA on yesterday session. Buyers were active there and ES bounced and is currently at 1246.50 and moving higher. The expectation for today is for responsive buyers to be active at support and push ES back up into the weekly range. Im also expecting sellers to be active at resistance areas but favor the buyers. Sentiment is still bearish so i will be cautious on the long side as we may get follow through to the down side if we stay below the 64-66 area. A break above that area would confirm buyers in control. The main catalyst today is the jobless claims then NFP tomorrow. We may not see to much action today as the market will wait for the NFP numbers. But given the recent volatility it could still be very whippy action.

Pre market analysis 8-3-11 Wednesday

Trying to get into my routine...

News: ADP employment report @ 8:30AM, factory orders @ 10AM, ISM non Mfg orders @ 10AM

Trade plan and Price action analysis: (Trade plan) Globex stayed in a small range most of the night and popped back up above the 1252.25 previous swing low from the balance area. Es traded up to 1257 resistance and rotated back down to the 1252 area and is currently in that small range. Sellers are in control and the expectation is for them to be active on any push up into resistance. I have 57-59 area a break above that will bring the 65-67 (strong area) area into play a break above that would signal buyer strength and shift short term control back to the buyers. Then the 1270 nvpoc from yesterday. On the down side i have 1243 where globex lows stopped at and 1235-1237 area. We could see buyers active there except for a news release that is really bearish. Over all we are at some previous swing low areas and the sellers will either keep pushing down or the buyers will step in hard and move the market back up into value. I will look for shorts at resistance and possible longs at support after i see signs of sellers exhausting at support. This HS neckline break could be a fake out and i will need to see follow through today from the sellers in order to validate the pattern.