ES 2/17 - Daily Trading Plan

ES Hourly

Still playing a breakout of the DBW on the upside and pullback into the ABW.

If ES breaks below support at 804.75, the next support is at 799.75. Only when ES breaks 797.50 support will I consider the scenario that it is heading for floor of the DBW.

Game Plan For Today

- Trade between the range of 805 - 820, and be prepared for ES to trade below 805 (support at 799.75)

- Go LONG as and when ES:

1) Pierces white uptrend line on double bottom (if support at 804.75 holds), or Inverted Head and Shoulder (if the next support at 799.5 holds) patterns, AND

2) Breaks and closes above 819.5 resistance

Taget: 835. Entry will be on subsequent throwback to any where above 819.5. If throw back ends below 819.5, or below white uptrend line, abort plan and reassess.