ES Daily Plan | December 26, 2024

My preparations and expectations for the upcoming session.

Dec 25, 2024

For new followers: The yellow levels highlighted at the bottom left of the chart are the primary levels that I focus on intraday. My strategy for preventing impulsive decisions at unfavorable locations involves following a simple yet effective rule of exercising caution when initiating trades outside of the yellow levels. This implies that I am cautious chasing longs above the final yellow upside target and shorts below the final yellow downside target. It is crucial to understand that refraining from chasing a trade is not an automatic invitation to initiate a trade in the opposite direction.

Visual Representation

[No chart—I'll be back tomorrow to prepare for Friday's session]

Contextual Analysis

[Only levels—I'll be back tomorrow to prepare for Friday's session]

Levels of Interest

Going into tomorrow's session, I will closely observe the behavior around 6090.

Holding above 6090 would target 6120 / 6136 / 6155 / 6175 / 6200
Break and hold below 6090 would target 6071 / 6048 / 6034 / 6008 / 5980

Additionally, pay attention to the following VIX levels: 14.88 and 13.66. These levels can provide confirmation of strength or weakness.

Break and hold above 6136 with VIX below 13.66 would confirm strength.
Break and hold below 6048 with VIX above 14.88 would confirm weakness.

Overall, it's important to exercise caution when trading outside of the highlighted yellow levels. A non-cooperative VIX may suggest possible reversals i.e trade setups.