Break Out Time - Looking for Confirmation - Dec 5 Trade Plan
#ES_F / #NQ_F - SPX / NDX FUTURES - $SPY / $QQQ
🔹 Quick Update
My trade plan for paying subscribers gave three areas where I wanted to look for my 5 minute reversal model. We made our day during the live video session pre-market as jobless claims triggered a solid risk-defined push through the previous day high, but the US open was quick to sell that back into the given hourly range for another higher low. Three hours later, price had backtested that breakdown and initiated rejection to make lower prices and undercut the 11AM wicks. Strong demand showing out of my level 2, confirming hourly sweeps and time for us to zoom in to manage the entry.
We got long the M5 Diagonal Entry Models at given levels in Discord ES $6855 / NQ $25580 and trailed through the late day squeezes. Setup recaps shared in today’s newsletter.
Every day, my trade plans for $ES_F and $NQ_F offer three key levels for directional bias, strong confluence zones and potential targets, support and resistance.
Entries are managed through my 5 minute reversal model to define risk and entry. Free instruction on my website.
➞ TECHNICAL ANALYSIS / CONTEXT
Break out time, looking for confirmation.
As shared yesterday, we are looking at mature daily EMA9 consolidations into my key resistance for this week. All this needs is a ‘higher low ‘n go’.
Updated today, both indices printed reversal candle, but are so far attempting to resolve higher. We got long on Monday this week and finally got our add yesterday, but if the overnight low gets taken out today, sellers will have their shot at a rejection.
We are waiting for PCE data today, the first in nearly two months. Expect more volatility ahead.
For today, price will have to backtest the hourly range it broke out from yesterday, the backtest will tell us if the break out is holding. I will buy a bear trap towards yesterday’s lows with conviction and full size.
Upside targets remain ES $6830 and the all time high. NQ wants $26104 and the all time high.
Charts and trade plans for paying subscribers follow below.
