November 18th- Daily Trade Plan - 6:30am
*Before reading this trade plan, IF, you did not read yesterdays, or the Weekly Trade Plan take the time to read it first! (You can see both posts in the related publication section) *
If my posts provide quality information that has helped you with your trading journey. Feel free to boost it for others to find and learn, also!
My daily trade plan and real-time notes that I post are intended for myself to easily be able to go back and review my plan and how I did from an execution perspective.
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Yesterday, we had good reactions at our key levels. Price ultimately went lower into the last hour of trading, and we got a nice, failed breakdown of 6670 that rallied into the close to finish of the day. You can review yesterday's plan and price action by viewing the post in the related publication section.
Today we have a pretty straightforward plan that I will go over below!
Our overnight high was 6707 (Right below our 6713 level from yesterday). Our overnight low was 6635 which we put in a nice, failed breakdown of 6643. This pattern of price losing a low, then quickly reclaiming that low is a pattern we will continue to see in a volatile and downward trending market. Price is building a really nice base between 6667 and 6684. I anticipate this will continue higher and retest the overnight high of 6707. Any reclaim of 6684 on a back test should give us a good entry or a flush of 6663 and reclaim would take us higher, also. Until price can clear 6715, price is still in a lower high, lower low trend!
Key Levels Today -
1. Loss of 6663 and reclaim
2. Loss of 6635 and reclaim
3. Reclaim of 6684 with a back test of this level for possible entry.
Below we have 6624 and some past weekly levels of 6607, 6592. These levels will be key and the flush of one of them and reclaim should keep us moving higher. The safer place to enter is to wait for it to clear the level from above, back test that level and then enter.
We have Thanksgiving next week and I would not be surprised if price tests the 6540 level by Friday and we rally end of the week as retail and sentiment becomes more bearish.
I will post an update around 10am EST
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Couple of things about how I color code my levels.
1. Purple shows the weekly Low
2. Red shows the current overnight session High/Low (time of post)
3. Blue shows the previous day's session Low (also other previous day's lows)
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White Levels are previous day's session High/Low
*Before reading this trade plan, IF, you did not read yesterdays, or the Weekly Trade Plan take the time to read it first! (You can see both posts in the related publication section) *
If my posts provide quality information that has helped you with your trading journey. Feel free to boost it for others to find and learn, also!
My daily trade plan and real-time notes that I post are intended for myself to easily be able to go back and review my plan and how I did from an execution perspective.
--------------------------------------------------------------------------------------------------------
Yesterday, we had good reactions at our key levels. Price ultimately went lower into the last hour of trading, and we got a nice, failed breakdown of 6670 that rallied into the close to finish of the day. You can review yesterday's plan and price action by viewing the post in the related publication section.
Today we have a pretty straightforward plan that I will go over below!
Our overnight high was 6707 (Right below our 6713 level from yesterday). Our overnight low was 6635 which we put in a nice, failed breakdown of 6643. This pattern of price losing a low, then quickly reclaiming that low is a pattern we will continue to see in a volatile and downward trending market. Price is building a really nice base between 6667 and 6684. I anticipate this will continue higher and retest the overnight high of 6707. Any reclaim of 6684 on a back test should give us a good entry or a flush of 6663 and reclaim would take us higher, also. Until price can clear 6715, price is still in a lower high, lower low trend!
Key Levels Today -
1. Loss of 6663 and reclaim
2. Loss of 6635 and reclaim
3. Reclaim of 6684 with a back test of this level for possible entry.
Below we have 6624 and some past weekly levels of 6607, 6592. These levels will be key and the flush of one of them and reclaim should keep us moving higher. The safer place to enter is to wait for it to clear the level from above, back test that level and then enter.
We have Thanksgiving next week and I would not be surprised if price tests the 6540 level by Friday and we rally end of the week as retail and sentiment becomes more bearish.
I will post an update around 10am EST
----------------------------------------------------------------------------------------------------------------
Couple of things about how I color code my levels.
1. Purple shows the weekly Low
2. Red shows the current overnight session High/Low (time of post)
3. Blue shows the previous day's session Low (also other previous day's lows)
4. Yellow Levels are levels that show support and resistance levels of interest.
5. White Levels are previous day's session High/Low
Catatan
10:30am - UpdatePrice lost the 6635 level after the open and dropped to 6603.25 and quickly popped to 6630 and then came back to see if there was more supply at the 6607 level, tagged the 6606.25 level and held, I bought a position at 6610 and sold 1/2 at 6632 and have my runner at 6620. Price should hold the 6620 level and continue higher, if this is the low of the morning session. IF we lose 6620, we will need to retest 6607 and could fail and 6592 is the next level of interest.
Catatan
11:30am - UpdateWe lost 6620 all the way down to 6594 and have found a low! Price started to rally pretty quickly, and I was able to grab some points with my last position of the day at 6612 and sold 1/2 position at 6632 and have my runner at 6630. This is a classic short squeeze and price must hold 6624 with 6607 the lowest on any pullback. IF this is going to be our weekly low, we will need to reclaim the 6684 level. Price will need to cool off here as we back test 6655 and Ideally price holds 6630 or we will most likely need to retest 6624 or a lower level.
As I was typing this note, price has reached the 6655 resistance. While we can go higher, I wanted to take profits and sold my runner at 6652. I anticipate some form of pullback and will be another chance to enter. I would be waiting for the core resistance levels from this am that are now support. 6636, 6631 (Ideally, we lose 6636 down to 6631 and reclaim 6636 would be a good R/R trade. Below and I would be waiting for the loss and reclaim of 6624.
Catatan
12:40pm - Update I have taken my 2 daily trades, so did not take this but we lost the 6624 level down to 6615, reclaimed 6624 and you could have entered. You can just see it was being bought by Institutions as the 1min candle was bigger than the previous 5 - 1 min candles. That is a great sign of buying and you could have entered and sold at 6635 and kept a runner into the 6655 resistance. I am writing these to show how you can trade the key levels, especially when we are in a macro downtrend. 6684 still needs to be reclaimed to move higher and keep the bigger picture next leg up for higher prices and ATH's. I will send out the daily trade plan for tomorrow by 6am EST.
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Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.