ES & MES Futures Trade Plan #366

ES Trade of The Week

Monday’s long on Zoom was THE trade this week. 

🔥 50-pointer intra-day. Even if this was the only trade you made this week, a 50 pointer on Monday is an average of 10 points a day. 10 points a day as an ES trader is fantastic! 

🔥 200-pointer if you held over night.

This Week’s Battle Plan

Big fat goose egg this week. 

And here is why it’s a GREAT THING. 

I don’t just throw out Battle Plan trades to occupy a space or fill out a newsletter.

🔥 I only want Battle Plan trade ideas that are in high-probability trade locations.

This week, we were NOT in such a location.

After a rip roaring 450-point short squeeze, we were left with no structure to lean against. 

ES dashed beyond the all-time high and continued accelerating past it in a very unusual fashion.

Thus, there were no high-probability Battle Plan trade ideas.

An unusual week to say the least. 

I don’t “force” Battle Plan trade ideas. 

The Money This Week Was Made…

By holding runners. Period, end of story. 

New entries were difficult, with little follow through.

The follow through already happened.

Trying to trade the tail end of a monster 400 point run is difficult at best.

I cautioned that the next set of high-probability trades would probably be next week.

It’s shaping up to be true.

Expected Range

Seems a little low for CPI, but we are still in the summer trading months.

Tip of the Day

Quit Calling The Funeral Early:

In a bull-controlled tape, a couple of red candles prove nothing.

Whoever controls stays in control until price breaks and ladders beyond a daily low. Until then, quit expecting a funeral.

Trader’s Homework

“The true test of a man’s character is what he does when no one is watching.” – John Wooden

When Tim saw the homework simulator, he remarked, “This hits so many things simultaneously: review, accountability, feedback, consensus/agreement on levels and their tradability.” 

Tomorrow’s Live Streams

Scoreboard

Points Accumulated This Week:

Battle Plan: 0

Zero. Zilch. Nada. 

There are NO high-probability trades near here…. Nor did I invent any.

Our trades were from Monday holding that lotto runner for 200 points or holding our runners from last week. Our system generated hundreds of points the last 10 days. The Battle Plan needed a rest too. 🙂

Zoom: 90+

🔥 10 Point short if you took profit. 

NFP Friday. A one-and-done type of day.

Core Strategy: 104+ (Full Members)

🔥 I spy two FS shorts for nice gains. PLUS, they were at the top of the range we drew this AM on Zoom. 

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