ES: 30 Minute Chart Price Levels
NQ and YM Daily Charts
ES PRE MARKET THOUGHTSThis a sample of how I do my market preparation. I try and form a hypothesis before the morning gap for each index. 45 minute before the markets open I then reformulate my plan once I see where the gap is for each index.
White Lines show the Price Levels I will be paying attention to tomorrow along with the Highs and lows of the day and pivots:
10am report could throw a wrench into the day. My guess is that it wont cause an explosion up but any surprise could cause a nasty intra day down candle and a race to fill yesterdays gap.
* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money. Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.