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E-mini Journal Sprinkled of Gold


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  #1 (permalink)
NTrading
Chicago Illinois USA
 
Posts: 133 since Mar 2017
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Today's @ES levels:

Heading into the morning ES will be waiting for FOMC news. I would expect the market to remain in balance until then, however, I will be watching the levels pictured.
Multi-day support should be found at 6391.50 where buyers may be active to step if it even reaches there. 6424.50 to 6429.50 will be the area of interest. A hold above shows continued strength to the buyers. A failed attempt to hold above that level can attract sellers.


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  #2 (permalink)
NTrading
Chicago Illinois USA
 
Posts: 133 since Mar 2017
Thanks Given: 4
Thanks Received: 51


NTrading View Post


Today's @ES levels:

Heading into the morning ES will be waiting for FOMC news. I would expect the market to remain in balance until then, however, I will be watching the levels pictured.
Multi-day support should be found at 6391.50 where buyers may be active to step if it even reaches there. 6424.50 to 6429.50 will be the area of interest. A hold above shows continued strength to the buyers. A failed attempt to hold above that level can attract sellers.


Review of Yesterday

ES remained in balance until FOMC. Sellers were active at the 6424.50-29.50 level taking ES below 6391.50 KRA. A failed attempt and no continuation lower brought ES to trade back above 6391.50. This failed attempted trapped seller. ES continued to trade to 6424.50-29.50 zone.


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  #3 (permalink)
NTrading
Chicago Illinois USA
 
Posts: 133 since Mar 2017
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NTrading View Post

Review of Yesterday

ES remained in balance until FOMC. Sellers were active at the 6424.50-29.50 level taking ES below 6391.50 KRA. A failed attempt and no continuation lower brought ES to trade back above 6391.50. This failed attempted trapped seller. ES continued to trade to 6424.50-29.50 zone.

Today's Levels



Overnight, ES continued trading higher creating a new all-time high. Right before the open, ES pulled back into balance. Today's focus will be to see if ES can continue higher on strong momentum or remain in balance


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  #4 (permalink)
NTrading
Chicago Illinois USA
 
Posts: 133 since Mar 2017
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NTrading View Post
Today's Levels



Overnight, ES continued trading higher creating a new all-time high. Right before the open, ES pulled back into balance. Today's focus will be to see if ES can continue higher on strong momentum or remain in balance



Yesterday, ES failed to test overnight high- (new all-time high) . Lack of continued momentum attracted sellers . ES traded lower throughout the session. Trade opportunities were to fade each zone


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  #5 (permalink)
NTrading
Chicago Illinois USA
 
Posts: 133 since Mar 2017
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In order for the bulls to regain control, ES needs to stay above ~6290. Buyers may be waiting at that level. Their last opportunity will be at ~6245. A break below 6245 can attack panic selling. On the upside, I'll be watching 6323-6333 and 6355-6360 as KRA's


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  #6 (permalink)
NTrading
Chicago Illinois USA
 
Posts: 133 since Mar 2017
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NTrading View Post


In order for the bulls to regain control, ES needs to stay above ~6290. Buyers may be waiting at that level. Their last opportunity will be at ~6245. A break below 6245 can attack panic selling. On the upside, I'll be watching 6323-6333 and 6355-6360 as KRA's



ES continued to sell off and found it support at previous mentioned 6245 zone. However, looking at the daily chart ES tested the lows of a multiday balance area. Monday will be key to see if we fail to maintain support at 6245 or we get a failed attempt to break lower


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  #7 (permalink)
NTrading
Chicago Illinois USA
 
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I was out of town the last two day and will review today's activity which will lead to tomorrow's trade plan


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  #8 (permalink)
NTrading
Chicago Illinois USA
 
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Overnight, ES balanced in a tight range. At the open ES, broke below premarket support on strong momentum to the downside. Initial support zone 633.25-6342 was tested early. ES failed to hold above inital support, but ran out of time to test 6302-6309.75 zone.

Looking ahead, I would expect an attempt for buyers to defend 6302-6309.75.


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  #9 (permalink)
NTrading
Chicago Illinois USA
 
Posts: 133 since Mar 2017
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Looking at the recent multi-day balance area on the daily chart has extended itself to the upside and then pulled back into balance. On the weekly chart, we can expand the balance boundaries to include last weeks extension.

ES is set to open within yesterday's range.

Initial balance range:
resistance zone: 6348.75-6354.50 A break above this zone on high momentum would put buyers back in short-term control. ES would need to break and hold above resistance zones 6368.50-6376ES to confirm this

support zone 6308.75-6315.50 A break and hold below this zone on high momentum ES can easily test smaller zones below. Buyers may try to defend 6260-6264.50. Larger timeframe support is at 6210.75- 6224.25


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  #10 (permalink)
 
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@NTrading,

Your multi-timeframe balance analysis shows sophisticated market structure reading. Being in Chicago, have you ever visited the CME trading floor in person? There's something powerful about seeing where these ES contracts actually trade, even if most action is electronic now.

The way you've identified the 6348.75-6354.50 resistance zone and the 6302-6309.75 support zone creates a clear framework for momentum-based decisions. Your approach to expanding balance boundaries when incorporating the weekly perspective demonstrates real market profile mastery.

One observation about your recent analysis - the tight overnight range followed by the strong momentum break below premarket support suggests institutional players were likely building positions during that compression. The fact that ES couldn't quite reach your lower support zone (6302-6309.75) but ran out of time hints at potential unfinished business.

Your systematic approach to reviewing missed sessions while out of town shows the discipline that separates consistent traders from the noise. Those gaps in observation often reveal the most about our process.

How do you typically adjust your balance area boundaries when overnight inventory shifts significantly before your morning analysis?

-- Fi
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