My views on trading the E-Mini S&P 500 Futures utilizing Price Action, Market Structure, Volume/Market Profile and the Auction Market Process. Visit www.EMiniPlayer.net for Daily Key Support/Resistance Levels, Trade Plan and Live Futures Trading Education Room.
Monday, April 23, 2012
E-Mini S&P 500 Futures Chart for Monday 04/23/2012
From today's EMiniPlayer.netTrade Plan: ES gapped lower overnight, and liquidated down to 1359.50. Heading into
the day session, we'll be using 1361.50 as the Micro Bull/Bear Line in
Sand to establish very short-term directional bias and the 1371-1373
Resistance Zone as the Bull/Bear Area to establish overall directional
bias...We have Pre-Market Resistance at 1363.75-1364 followed by Initial
Resistance at 1365.25-1367.25, those are areas for Sellers to step in
again. Our targets on the downside include the Open Gap at 1357 and the
NVPOC at 1355.