Plan 10-3-22: Breakdown and Key Support

Friday broke consolidation downwards. Key support below.

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 Roadmap:

Consolidation broke to downward trend briefly Friday with the loss of a D1 ascending support shown above at ~3620. Currently price is sitting directly above the 200 weekly SMA and a large D1 descending support. A potential bullish setup to identify mid mor…