Weekly Plan ES Futures 4/14/2024

14 Apr

[Weekly plan: ESH2024
ES FUTURES 4/14/2024
5250 >> 5297 >>> 5333
Weekly pivot: 5181, Now 5166, Weekly open TBD
5134>> 5093 >>> 5057

https://www.tradingview.com/x/oJXTQHPt/
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Based on the provided levels for the ESH2024 futures contract, here's a weekly trade plan focusing on trading from the pivot to the upside or downside targets:

Weekly Pivot: 5181
Weekly Open: TBD
Current Price: 5166

Upside Targets:

First Target: 5250
Second Target: 5297
Third Target: 5333
Downside Targets:

First Target: 5134
Second Target: 5093
Third Target: 5057
Trade Plan:

Long Trades: Look for buying opportunities if the price remains above the weekly pivot (5181).

Entry: Consider entering long positions on pullbacks towards the pivot (5181) or if the price breaks above the weekly open (5263).
Targets: Target the upside levels of 5250, 5297, and potentially 5333.

Stop Loss: Place a stop loss below the weekly pivot or below significant support levels identified during the week.
Short Trades: Consider shorting the market if the price breaks below the weekly pivot (5181) or the current price (5166).

Entry: Enter short positions on breakdowns below the pivot (5181) or the current price (5166).
Targets: Aim for downside targets of 5134, 5093, and potentially 5057.

Stop Loss: Place a stop loss above the pivot or above significant resistance levels identified during the week.
Risk Management:

Ensure proper risk management by sizing positions appropriately based on the distance to target and stop loss levels.
Consider using trailing stops to lock in profits as the price moves in your favor.

Monitor the market closely for any changes in price action or news events that could affect the trade.

Note: Always adapt your trading plan based on real-time market conditions and adjust your approach as necessary to manage risk effectively.