News: Consumer sentiment @ 9:55AM, leading indicators @ 10AM
Trade plan and Price action analysis: (Price action) Yesterday saw ES spike up and down in a volatile session. It is OPEX week so the moves weren't a surprise. ES tried to make new highs from the lows of the balance area but sellers were to strong and we sold off down to retest the lower balance area where responsive buyers were active pushing ES back up into the days value area. Globex has now traded higher building acceptance up around 1273 area. So the control is in the buyers hands.
(Trade plan) Being that we are in a balance area and buyers are in control from the bottom for now my focus will be on the long side. Today is OPEX and we could have a volatile session again. We have a few news releases out after the open and we could get some movement from that so i will be waiting for them to hit the market. Over all i will be on my toes today and will focus on the long side at my support areas but will also look for selling opps at resistance.
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