Where it all starts:
[09:19] <Chartmaster> es tight range for bo consideration. long 1354.5 collected +1 +2 last evening. range at open long bo 1354.5 shorts at bo 1350. 1350 key for longer term support. break is significant weakness in mkt
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The day starts with a determination of where the market will find breakout buying or shorting. These points vary with each time frame, but we generally are using the 5m.
As the day continued, two bullish trend lines developed. These offer support above the sell target until broken. Watch for areas of congestion: any combination of the EMA, TL, L/S targets,etc. Breaks at these points tend to be extended, thus rewarding to trade.
After midday those trend lines are broken, we have a failure at the EMA (MAXT type). The market is showing weakness. Selling pushes price below the sell target. That one trade was over 5 points.
Have a plan. Trade what the market gives us.
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