8/6 Europe

ES S&P 500 mini & 6E Euro -Trade Plan - Courage is resistance to fear, mastery of fear, not absence of fear.  Mark Twain

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  1. What needs to hold to favor buyers- long term 1683/ short term 1689
  2. Bull/Bear Line for RTH - Bullish above/Bearish below
  3. Overnights are Long/Short/Balanced Opportunity for TBD
  • Expectations/Strategy : Auction was weak and buyers will need to hold 1683 longer term. Todays trade setup was to sell once below 97 use it as resistance – 97 held once below and we bounced close to the support at 1689. Looks like GAP 1685 and NVPOC at 1686.75 are the next targets as long as below 1694 (1690.50 trading)

Plausible Trade Setups  - Seller / Buyer  update in AMESriskcap86

  • Support -88.50, 84, 79.50
  • Resistance - 94minor, 97, 1703.75
  • High of Day – 1700.50
  • Low of Day – 1688.50

ONHI – 1694    ONLO – 1689.50

  • NVPOC - 1692.50, 1686.50
  • GAPS - 1685
  1. Activity type -Initiative Selling
  2. Open Type = Open in Range, Open Rejection reverse
  3. Direction of trade- Down, good facilitation that way & current condition is balanced
  4. Volume - Higher
  5. Value Area - Lower  These 5 lead to Auction results = bias/Expectations

 All charts/ Levels/shades/zones/support/resistance or trade setups are not to be shared under ANY circumstances. Always use stops and Globex session larger stops but smaller size. 

6E Expectations -  Auction was StrongEUR86

  •  Bearish below 13249
  • Support - 13297, 13249, 13203
  • Resistance -13244, 13380, 13419

NVPOC (scalps) -

For FX/forex Use a 15-20 pip stop for day trading FX levels, scale at +10 stop to break even and rest at 15. SCALPS are much tighter & smaller gains 5-8 pips.

NQ Expectations -update in AMNQ86

  • Bullish above -
  • Bearish below -

Always use stops (4pt MAX 3.5 mental) Use a 3 stop for RTH, trade smaller with wider stops during Globex and develop your plan. Goal is a 2.5pt rotation from an area minimum. Scale 50% at +2 and rest at 4. For FX/forex Use a 15-20 pip stop for day trading FX levels, scale at +10 stop to break even and rest at 15. For NQ use a little wider stop than ES. Trading futures, futures options and forex involves risk and you can lose more than your initial investment.  These are just thoughts not directions. Past performance is not indicative of future results. The information and data contained on riskcap.net was obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Information provided on this website is not to be deemed as an offer or solicitation with respect to the sale or purchase of any securities or commodities. Any decision to purchase or sell as a result of the opinions expressed on riskcap.net will be the full responsibility of the person authorizing such transaction.   This information is Confidential and for subscribers to riskcap.net Any redistribution of this information without permission from riskcap.net is prohibited. 

  • All charts/Levels/shades/zones/support/resistance & trade setups are not to be shared under ANY circumstances.

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