Index Futures – Trading Plan – 9.8.14

Monday, September 8 – Trading Plan Prescription

ROLLOVER WEEK


E-Manual now available!!

Live Trading Room information available here @ Marketfy

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

Available to Marketfy Members


Econ Calendar: Econoday

Red Star: None


NQ

2014-09-07-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 and chop – seeking direction. Holding 120~ points upside of 50 day MA. Volume above 60 period moving average. BIAS continues in tow with rest of market after correction of tow days that ended Friday session pushing to the long. Swing size 4 hourly target upside.

Trend: Confirmed – Neutral till momentum in unison with price

Gap: 4086.25 Pivot: 4076.12


YM

2014-09-07-YM-TOS_CHARTS

Resistance at Fib Target 17113 holding. Heikin Ashi TREND upside on 5/34 EMA cross. Daily Momentum FLAT as 4 hour swing size hourly chart seeking direction – target upside. Holding 150 points upside of 50 day MA. Volume above 60 period moving average. BIAS continues in tow with rest of market after correction of tow days that ended Friday session pushing to the long. 

Trend: Confirmed – Neutral till momentum in unison with price

Gap: 17117  Pivot:17080


ES

2014-09-07-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 chops. Holding 43 points upside of 50 day MA. Volume above 60 period moving average. BIAS continues in tow with rest of market after correction of tow days that ended Friday session pushing to the long. 

Trend: Confirmed – Neutral till momentum in unison with price

Gap: 2000.6  Pivot: 2000.25


TF

2014-09-07-TF-TOS_CHARTS

Price action PULLBACK UPSIDE with momentum downside. Do we stay in trend? 4 price crossovers and 5 momentum crossovers in last 10 trading days…does price action cross back upside? VOLUME barely below 60 day average again. BIAS for Monday looks better for UPSIDE action after previous pullback. Holding 105 ticks above 50 day moving average. 1163.1/1161.6 shows line in th sand on Friday action? 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 downside. Are we still extended? Doesn’t matter. Trade the charts on the setup.

Trend: Confirmed – Neutral till momentum in unison with price

Gap: 1170  Pivot: 1166

TF Average Daily Move: 2-2 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.

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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.

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