This is a quick update for the overnight session, with the plan for tomorrow coming before the US pre market open.
A quick look at today’s plan and how it worked out
2 trades for us today, 2 wins, for 65 points and 29 points respectively.
The plan was simple, we had been basing the entire week, and I was planing for a break out, in search of a daily lower high. For this to materialise, price had to reclaim the $5068-$5082 bull/bear zone, and then hold above, charge energy and break above $5116-$5122 break out resistance.
For Friday’s session, I shared this chart:
We got that pullback, and the first long set up into the hourly EMA9-21 cloud. We took the long in the Discord at $5101.25 - via a textbook M5 DEM (Diagonal Entry Model) of which I will share the details further down.
This trade followed through, and I mentioned in the Discord that I had hopes that price would displace higher, creating a buffer between our position and price at the time of the data release, so that we could play for a break out.
This is exactly what happened, and when NFP data was released, price pulled back just a few bucks before exploding higher, giving us an epic win. The maximum favourable excursion was a whopping 69 points.
When this push was in progress, I quickly updated the Discord and shared the update on X as well, stating that we were breaking out, and should look for a pull back to get long.
That pull back materialised, and we got another M5 DEM into my support bar, where price gave the long at $5132. We took this long in the Discord, all of us, and comfortably trailed for 11 points for the first partials, then held the runners throughout the session, locking in more at $5151, with the runners long into the weekend.
The setups that I shared for SPY, QQQ, IWM and DIA all triggered, and it was through simple LTF DEM setups as demonstrated in the Discord, that we all got opportunities to take calls for next week.
Look at this beautiful gap ‘n go for SPY, and the plan I had for more than two weeks now.
For the S&P500 futures, I am looking for $5200-$5250 as the initial target, but I will detail my plan for next week in the coming plan, as always.
Trade Reviews
Here is a complete sequence of the entry we took in the Discord, during the European session.
I will break down this trade into three different structures, and detail each setup with charts and nuggets.
Detailed setups for both entries:
Textbook M5 DEM. The ‘RT’ line is a new parameter that marks the point where the M5 EMA9 HAS to start trending, and if it fails to trend, it triggers a reversal (Reversal Trigger). Sometimes it aligns with the entry diagonal, other times it triggers earlier, and it aligns with the long trigger on the 1 minute timeframe for a conviction sniper entry. I’ve marked the balance zone that price had to reclaim, and through a slow grind, price actually managed to get above and flag into the close, then break out after hours and close at the high. A fantastic win: