Plan 11-1-22: Waiting on FOMC Halloween Edition

Rangebound consolidation awaiting violent market spasms

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:

Keeping today’s update short because essentially nothing has changed. Price is consolidating and the consolidation will most likely continue until FOMC. Each of the above areas highlighted if lost or reclaimed will likely test the areas above or below. Ess…