Plan 9-21-22: Dip Before the Rip?

What Bulls need to do to prevent drawdown

The focus of the stack is how to react to price setups rather than to predict the market’s direction. The preferred pattern traded in any scenario is a failed breakout or key level reclaim. This method is discussed with more detail in the following link.

@Efficientenzyme : Potential setups intraday from Twitter

Daily Recap:

Today’s trade(s) were as follows:

• 10:50 Long 3875, profits 3889. This trade went slightly in the red when ~3874 back tested as a support, I set a stop a few points below that. When it bounced confirming support I took profits one level up.

• 3:20 Long 3873, profits 3882. My target was 3889 but took profits early to start writing this stack. It worked out because price fell 1 point short before retracement.

/ES Roadmap:

Today bulls fought back at every place they needed to to prevent drawdown.

Tomorrow at 2:00 market time is FOMC. The above chart gives a rough overview for whose in control leading into the post market.

Green zone: Bulls back in control. This represents a re…