MES Micros Trade Plan #263

A Recap of Today’s Price Action & Setups:

OVERVIEW:

SPECIAL NOTE: The Battle Plan is now fully optimized for mobile!

As promised all week… Violent whipsaw price action. Level 10 of Level 10 Weeks. 

Today there was really only one trade during the RTH session… Stand Down.  

OVERNIGHT:

Battle Plan 3️⃣ worked out nicely for a good short… per the notes. With good 3-Contract management, one could capture 25 points by moving their stop above the Strong Level once price dropped below it. 

Several members in the group took that trade… Congratulations, nice trade! 

See the image. 

🔥 Battle Plan 4️⃣ offer a 10 pointer on its first enter in the Asia session before finally running 50 points exhausting all the “bounce power” of the Battle Plan 4️⃣  trade idea. 

RTH:

RTH offered nothing. 

Violent whipsaw, 20-point candles out of nowhere price action. 

Today’s price action mirrored an EKG. 

TIP OF THE DAY

Seriously, know when to say “No, Thank You!”.

Not every day is a trading day. 

Teaching traders not to trade is harder than teaching them how to trade. 

The Thursday and Friday rolling into contract rollover week is rarely worth trading. That is probably worth journaling as well. 

QUOTE OF THE DAY

The most important investment you can make is in yourself. — Warren Buffett

TRADE OF THE DAY

BATTLE PLAN:

🔥 Battle Plan 3️⃣ short for 25 points. 

🔥 Battle Plan 4️⃣ long for 10 points max. 

ZOOM:

We discussed one first ladder long with a perfect take profit at 15 points, but all entries were super high risk today. 

CORE STRATEGY: (For Full Members)

Large violent candles = no trading.

Core strategy rules are account saving… Ignore them at your own peril.