ES & MES Futures Trade Plan #398

What is the Best ES Trading System?

It’s the ES trading strategy that consistently has you looking for the right trade, at the right trade location, on the right side of price action.

And most importantly, those locations are mapped before price gets there.

All of today’s targets were outlined in the AM Briefing this morning as well.

Battle Plan 1️⃣ 50-70 Points SHORT

Battle Plan 2️⃣ 20+ Points LONG

That’s 70-90 points of opportunity mapped out before the trading day unfolded.

Look at the chart below… Not too shabby.

Battle Plan 1️⃣ | Best ES Short Setup

Well, Battle Plan 1️⃣ paid again… 25 points yesterday and another 50+ points today.

We don’t map out many shorts on ES, but when we do, they typically pay.

Target hit and beyond.

Playing perfect chess with the lotto runner really paid today. Congrats, shorts!

🔥 50-70 Points Battle Plan 1️⃣ Short

As we followed this trade on Zoom, I recommended that if this was your first 50-pointer, snag your 50-pointer.

We discuss multiple stop locations depending on your level of aggressiveness. From playing perfect chess… keeping your stop behind the RTH High and walking… to something a little more aggressive, like keeping your stop above conquered Strong Levels.

Our ultimate target today was Battle Plan 2️⃣.

ES dropped right into it.

Now check the note that was written in advance for Battle Plan 2️⃣:

“If short from above, consider peeling contracts off as you arrive at this location.”

That’s exactly what we discussed in the Live Trading Room as price arrived: take the beautiful 70-point move and call it a day… or keep playing perfect chess with the remainder.

Your trade. Your management.

Ladder Back Longs | Trading the Turnaround on ES

Once Battle Plan 1️⃣ short reached initial target… we had a very fruitful discussion in the Live Trading Room about the mechanics of trading ladder back longs.

The mapped target for Battle Plan 1️⃣ was not the location we were looking to get long, but it was still a great discussion.

You often have to trade what is happening rather than what you want to happen.

And you never, ever let a trend day hurt you because you got counter-trend too early and weren’t ruthless with your trade management.

Another high-probability trade waits around the corner. Never, ever let a single trade hurt you.

You never have to be the first one long, and you never have to be the first one short.

When we closed the live Zoom… I told the traders my goal was for us to get down to Battle Plan 2️⃣. Set a TradingView alert at 7770 and walk until it fires.

Battle Plan 2️⃣ ES Long

We arrived at Battle Plan 2️⃣.

🔥 20-Point Battle Plan 2️⃣ ES Long Setup

I was hoping we’d push a little deeper under the Strong Range.

Got to trade what’s happening!

I waited for price to develop as close to the mapping as possible.

Two different possible entries were provided… remember, these locations were mapped out when we were 80 points higher. I try my best.

ES dipped into the Strong Range and popped up, leaving behind two fair value gapping candles clearing the Strong Level.

Nice. I like.

I placed my order at 7764 for the pullback towards the Strong Range… just inside of it. It proved to be a little too greedy.

Well, ES pulled back but missed my entry by TWO ticks.

I wasn’t too disappointed because the price action was completely lethargic. I didn’t shed a tear.

I’m just happy the mapping worked out well.

The initial Battle Plan 2️⃣ reaction offered 10-20 points, depending on your entry and management.

SIDE NOTE: If you get into a trade too early, ES will often get you out before the real move… and before a cleaner, more beautiful entry.

Call Me Mr. Two Ticks Today

ES missed me again by a couple ticks!

Very nice Battle Plan mapping. Can’t complain.

Price bounced 3 points from the mapped entry location… so I removed my order.

No chasing.

On the later re-entry attempt, price only ran about eight points… twice… before folding back. Price completely lacked enthusiasm to continue the move up.

Not every trade is going to give us 20 points.

We take break-even trades. We take small losses. We take small wins. And sometimes, we catch the big ones.

But we never, ever, ever take a large loss.

We trade the bounce. We manage the risk. And we let the market decide how far it wants to go.

Another high-probability trade waits around the corner.

Tip of the Day

Insure The Green Day:

Lock enough profit early that the day is guaranteed green.

THEN let the rest ride. A runner flies better when the day underneath it is already safe.

This would have really paid well with Battle Plan 1️⃣ today.

Tomorrow’s Live Streams

Scoreboard

Points Accumulated This Week:

Battle Plan: 105+

🔥 50-70 Point Battle Plan 1️⃣ ES Short

🔥 20-Point Battle Plan 2️⃣ Long

Zoom: 0

Today on Zoom, we helped traders manage their shorts from Battle Plan 1️⃣, helping them maximize their profit.

And we had an amazing discussion about trading turnaround longs… that was worth being in the Live Trading Room.

The value cannot always be measured in points earned while live.

No points awarded for today.

Core Strategy: 30+ (For Full Members)

Looking at the chart as objectively as possible.

Yesterday there was a plethora of Clean Clear CRISP Core Strategy Trades.

Today, I can’t find a single one.

I like clean, clear, crisp levels… easy trades and great trade locations. That did not happen today.