Plan 1-24-23: Bull Targets for Consolidation (and failure)

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.

Daily I’ll explain the overall context for the price action of /ES. My given levels take into account channels, volume profile points of control, key zones acting as either magnets or potential squeeze targets and levels of overhead supply/demand. This information is then distilled down into simple actionable intraday horizontal support and resistance levels. These levels will change each day as price reacts to the various highlighted zones discussed.

For additional questions regarding topics reach out on Twitter @Efficientenzyme

/ES Roadmap:

Today Price reclaimed 4010 resulting in a large squeeze, from yesterday’s bull case:

“Bull Scenario: Hold above 3940 (ideally 3960) through all consolidation. Target 4010. In the unlikely scenario of a reclaim at 4010 price squeezes to 4070.”

It didn’t quite hit the…