Index Futures – Trading Plan – 9.5.14

Friday, September 5 – Trading Plan Prescription


E-Manual now available!!

Live Trading Room information available here @ Marketfy

——————————————————————–

Daily VLOG Recap (NQ/YM/ES/TF/QQQ/DIA/SPY/IWM):

Available to Marketfy Members


Econ Calendar: Econoday

Red Star: Employment


NQ

2014-09-04-NQ-TOS_CHARTS

Resistance at Fib Target 4119.75 just above. Heikin Ashi TREND upside on 5/34 EMA cross. Daily Momentum downside as 4 hour swing size hourly chart crosses down. Holding 116 points upside of 50 day MA. Volume above 60 period moving average. BIAS continues in tow with rest of market in correction to most previous high @3990. Swing size 4 hourly target downside.

Trend: Confirmed Upside – with Pullback

Gap: 4069.25    Pivot: 4075.58


YM

2014-09-04-YM-TOS_CHARTS

Resistance at Fib Target 17113 holding just above. Heikin Ashi TREND upside on 5/34 EMA cross. Daily Momentum downside as 4 hour swing size hourly chart crosses down. Holding 190 points upside of 50 day MA. Volume above 60 period moving average. BIAS continues in tow with rest of market in correction to most previous high @16994. Swing size 4 hourly target downside.

Trend: Confirmed Upside – with Pullback

Gap: 17079   Pivot:17083


ES

2014-09-04-ES-TOS_CHARTS

Resistance at Fib Target 2008.07 holding just above. Heikin Ashi TREND upside on 5/34 EMA cross. Daily Momentum downside as 4 hour swing size hourly chart crosses down. Holding 32 points upside of 50 day MA. Volume above 60 period moving average. BIAS continues in tow with rest of market in correction to most previous high @1986.4. Swing size 4 hourly target downside.

Trend: Confirmed Upside – with Pullback

Gap: 1997.75   Pivot: 1999.95


TF

2014-09-04-TF-TOS_CHARTS

Day Two Pullback

Price action DOWNSIDE with momentum downside. Do we stay in trend? 4 price crossovers and 5 momentum crossovers in last 9 trading days…or do we get a pullback upside? VOLUME barely below 60 day average again. BIAS DOWNSIDE for Friday looks good with probability of pullback upside. Holding 110+ ticks above 50 day moving average. 1169.5 line in the sand broke through? 1163.1/1161.6 new line? Daily trend on Heikin Ashi upside with 5/34 EMA. Holding above Fibonacci levels. Swing Size 4-hourly at 50 day MA. We go under 1155, new target. Are we still extended? Doesn’t matter. Trade the charts on the setup.

Trend: Confirmed Upside – with pullback

Gap: 1166.6    Pivot: 1170.2

TF Average Daily Move: 2-1 for the week (Up and Down hit on 9.4.14)

Daily levels available for Premium Members.


Stocks: Look for increased volume at market open of at least 50% above norm for average three month volume in 5 minute increments. Recommend to run scan on watch-list (IBD 50, Q50) for price momentum.


…as always, ready in both directions, regardless of trading plan. When opportunity presents , wait for 2 bar confirmation crossover and use 5/34 EMA and 5/13/21/80 to stay in trend. Trading rules always a gold standard.

———————————————————-

While I am a believer in simply trading the charts and what is in front of me from the market open, I will look for market trend based on the internals market wide and the market I am trading accordingly. No crystal balls or mirrors to tell you where the market is headed prior to the open, as I have no clue. Waiting on the 25m Open Range to set and subsequent 1 hour open range, with levels above and below I can manage my trade by removing contracts or re-entry based on contract size and look for the momentum move. My simple trading method by use of a combination of exponential moving averages limits my loss and times my precise entries regardless of where price action is. Either way, it’s all about patience and discipline. My trading plan is simply a cognitive exercise and reminder to always stick with my plan, regardless of which direction the market goes.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s