#ES_F / #NQ_F Trade Plan July 10
Navigating the S&P500 and Nasdaq 100 futures with Barky's Three Level Trade Plans
Daily Chart Update
I wanted to see failed breakdowns to trigger long, and proposed paths two for this purpose. Acceptance below the hourly range would have made a good short, but the daily trend is up and D1 EMA9 hasn’t even been violated yet, so wait for the trap and get long… That worked to get price back to resistance, reclaimed H1 EMA9 and initiated paths 1 to attempt the hourly break outs.
These longs followed through all the way to last week’s highs, although ES only made a lower high. Late day higher lows set up perfect H1 EMA9 pushes that we traded via our M10 Diagonal Entry Model with M2 sniper entries.
Just a perfect day!
Plan result: 49 points $ES_F and 266 points $NQ_F. These trades are recapped in today’s educational section.
For today’s trade plans, the D1 EMA9 consolidations took out upside liquidity yesterday, and with that, the prospect of 4 hourly flags evaporated. The next logical progression in this setup is for price to test demand towards last week’s lows. If this materialises today/tomorrow, it will mark the dip to buy, after which a lower high would initiate the make of break stage, either sending price higher immediately (next week) or failing and initiating deeper pullbacks.
Like yesterday, the previous day low (PDL) is key today. The trend is ‘up’, and as long as D1 EMA9 keeps supporting, the targets are new highs.
Revised levels, trade plans, trade recaps, charts, key levels, and trade plan video with video trade reviews, all in today’s newsletter.
Table of Contents
This Week’s Plan and the Coming Session;
Plan - New Three Level Trade Plans for $ES_F and $NQ_F;
$VIX - Implied Volatility (Bonus);
Video - Trade Plan Video with Previous Session Trade Recaps;
Recap Charts - Previous Session Setup Charts and Education.
For methodology, follow this link: Barky’s Three Level Trade Plans
Three Diagonals Will Change Your Life
This Week’s Plan
The plan for this week as published on July 6 was to expect consolidation and a potential pullback as price was climbing on fading volume and RSI weakness, signalling potential exhaustion.
Key Trigger: Losing D1 EMA9 sparks consolidations or pullbacks.
Pullback Targets: D1 EMA21 aligns with our new weekly Trend Control Diagonals (see W1 update above).
Break out supports: ES $6153 - NQ $22426
Key weekly supports: ES $5959 - NQ $21567
Plans for the Coming Session
Daily turns are best managed on the 4 hourly chart. The H4 Continuation Models reclaimed their EMA9’s yesterday, with NQ taking out the high. The current EMA9 consolidations are key to the session, buyers can afford one final higher low towards H4 EMA50, and if those higher lows fail, price will take out D1 EMA9 and seek demand towards D1 EMA14 and the demand zones below it.
Bullish setup complete. NQ took out the high. H4 EMA9 has to lead now.
Still in play:
Bearish: Short with H4 EMA9 pushing, to sweep last week’s lows (ES Short $6223, NQ $22581).
Reversal Triggers:
- failing to reach and/or hold last week’s highs signals failed breakouts;
- no new highs after H4 EMA50 backtests signals failed swings (activated today).
Barky’s Three Level Trade Plans provide precise entries to navigate these setups.
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