8am EST update -
Overnight price found a low at 6252 reached 6310 as the high. 6296, 6277, 6252 are the 3 main supports below. A flush and level reclaim of any of these supports should see price continue higher with targets of 6325, 6350, 6375.
IF price loses 6252 or Fridays low at 6240, these would be the higher quality levels we would want price to flush and reclaim for a move higher.
6297 support holds and we break the overnight high at 6310, the back test of this breakout would be worth a level to level move up to 6325.
The main levels I am watching is 6252 or 6240 to be tested, flushed and reclaimed. It would be best to wait for the 9:30am open and see how price reacts. I could see price flush in the first 30 mins, then catch bears offside and reclaim the Fridays lows. That would be a great short squeeze area to ride a couple of levels of back testing the overnight price.
Below Fridays lows and I will be waiting for price to build structure at the supports of 6225, 6210, 6194, 6175. If ES is selling hard into these areas, I would wait to enter any longs until I see structure build and reclaim the levels I have outlined. Let price come to you and be patient.
Overnight price found a low at 6252 reached 6310 as the high. 6296, 6277, 6252 are the 3 main supports below. A flush and level reclaim of any of these supports should see price continue higher with targets of 6325, 6350, 6375.
IF price loses 6252 or Fridays low at 6240, these would be the higher quality levels we would want price to flush and reclaim for a move higher.
6297 support holds and we break the overnight high at 6310, the back test of this breakout would be worth a level to level move up to 6325.
The main levels I am watching is 6252 or 6240 to be tested, flushed and reclaimed. It would be best to wait for the 9:30am open and see how price reacts. I could see price flush in the first 30 mins, then catch bears offside and reclaim the Fridays lows. That would be a great short squeeze area to ride a couple of levels of back testing the overnight price.
Below Fridays lows and I will be waiting for price to build structure at the supports of 6225, 6210, 6194, 6175. If ES is selling hard into these areas, I would wait to enter any longs until I see structure build and reclaim the levels I have outlined. Let price come to you and be patient.
註釋
9:35am - Opening Update6297 support held and we have broken above the overnight high of 6310. We have heavy resistance at 6323, 6333. IF, price clears both, we should continue higher. I would be cautious at these levels, and I am still waiting for a pullback at the levels I discussed in the daily plan. You could try a short if price breaks back below 6310, tests 6297 and then wait for price to retest that low and short around 6294ish down to 6280. I DO NOT SHORT, so will wait patiently for price to come back to better levels to long.
註釋
Price rallied past the 6310 level at the open. In hindsight, I could have taken a long with the 6295-level support that was back tested overnight from the 3am Europe open that took price to test the 6310 level. I was holding out for a cleaner area to enter and when 9:30am opened, I didn't want to chase price as it cleared and ran quickly with no retest of the 6310 break out. Since price is at highs of the day there are no trades, I foresee at the moment until we can retest 6310 and see what price does. While I did not take a trade today, that is okay. I want to wait for my edge and sometimes price doesn't give you that at the time you want it to. That is part of trading. Be a sniper, wait for it to flush a key level, then go long with the institutions. Right now, I believe there is going to be distribution between 6330-6375 and our new range for the week will be 6240-50 to 6350-75. 6295-6300 is the POC of this range at the moment. Any reclaims of 6297 should give us good structure to work with tomorrow. I will be looking for price to reset down to the bottom of the range and will find better quality entries. - I will add August 5th Daily Plan this evening before 10pm EST. 
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