ES Plan Week #50
I update via X based on this plan as the market session unfolds in real time. Make sure to follow for the real time market updates! X (Twitter)- trader_izzy
Linked here is Monday’s session Plan sent via X along with the commentary intraday as the session unfolded. Highlighted where shorts came into play and why 6076 was the bigger target to get through.
Daily Timeframe Pivot Range 5855-6053.25
This is the much wider range the market is in as of right now. The market initiated a breakout higher outside of this range last Tuesday (12/02) session with the breakout trigger being 6053.25. The market followed through on this breakout higher the following session (Wednesday 12/03) that led to a high of 6102.25 which became a clear resistance for the rest of the week.
Since breaking higher above 6053.25 last Tuesday, the market has spent 3 whole trading sessions consolidating on this breakout move. Starting off this 2nd week of December, the market is nearly getting close to retesting this breakout trigger from the failure of intraday key support level (6092.75) that took place Monday session.
The overall look is this…
To keep the market bullish, it must hold above 6053.25 which only keeps previous week’s highs in play.
Failing to hold 6053.25 puts the market to trade back within the Daily Pivot Range (6053.25-5855). The question here is… how deep within this range does the market go on this scenario?
Let’s get into and see what’s next.
4H Timeframe Range Pivots 6000.25-6111
Dropping in one timeframe lower brings us right into the 4H. Updated range here to start off this week. Aside from the daily timeframe, this is the range we are focused on throughout this week which will act as our map.