Plan 10-17-22: Penny Flipping /ES

The world's premier meme stock

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.

Daily I’ll explain the overall context for the price action of /ES. Price action takes 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 levels. These levels will change each day as price reacts to the various highlighted zones.

@Efficientenzyme : Potential setups intraday from Twitter

ES is in a technically difficult place that has been broken out of and returned to on multiple occasions resulting in many densely packed support and resistance levels. In order for any bullish continuation price must move immediately from today’s close seated directl…