News: GDP @ 8:30AM, Durable goods @ 8:30AM
Trade plan and Price action analysis: (Price action) Yesterdays new event around 2PM caused a lot of buying to come in and ES shot up to the 1279-1281 resistance area. Globex has traded higher initially hitting the 1285-1287 area of resistance but has since pulled back to the 1275 area MCLVN. There is a lot of news coming out of the EU so the market have been jumpy all globex session.
(Trade plan) Buyers have seemed to step back inside the market and we are still inside of the balance area of 1293-1253. With all the news coming out of the EU it's hard to have a bias going into the day. I will stay alert and wait for solid set ups if they occur. Im still expecting S/R to hold in certain areas. Over all i will wait to see how the market sets up before taking any trades.
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