13361, 13344, 13314, 13288, 13257, 13243, 13227, 13219, 13205, 13189, 13167, 13152, 13125, 13107, 13096, 13078, 13038, 13028, 13019, 12999, 12988, 12974, 12950, 12931, 12914, 12896, 12881, 12870, 12838, 12823, 12817, 12808, 12797, 12784, 12776, 12760, 12732, 12725, 12712, 12693, 12672, 12667, 12644, 12625,12582, 12562, 12545, 12533, 12509, 12501, 12488, 12464,12452, 12433, 12419, 12380, 12349, 12313, 12228, 12217, 12037, 12027 Support / Resistance on the YM Emini Futures
YM Contract Notes: Big picture from here (12974 TS # is Big Pic LIS) YM likely either wants to test 13288 - 13257 or 12672 - 12667. If we can clear 13288 TS # and hold then we very likely will get new all times highs in the Dow. Failure now to get over 12974 TS # and hold and a test of 12672 - 16667 is likely on deck soon. Failure below 12501 TS # and holding and extended targets are 11542/11321 - 11311 TS #'s.
The key to making use of bigger picture analysis (above) is just like playing chess...you have to be able to perceive which moves are likely to be played out ahead of time. In trading that means figuring out likely target and getting a favorable cost basis from a risk perspective. One that won't likely be tested if you are correct in analysis and one that will tell you right away if your analysis is correct or not.
12931 TS # remains LIS Thursday. 12974 TS # Big Pic LIS as mentioned above. Tested down to 12760 bottom of Wednesday HOL FTD and found support. Exploded on daily forming a hammer. Very bullish short term. With that said the market is fickle of late and being moved by news.
YM Execution/Targets Zones:
13125 Extreme Short
13107 - 13096 Highest Odds Short FTU
13038 - 13030 Range Short
12999 Aggressive Range Short
12914 - 12896 Range Long
12808 Highest Odds Long FTD
12776 - 12760 Extreme Longs
Support becomes resistance and vice versa...
Trade smart and trade well!
TS TradePlan for ES YM 6E GC CL + TS Trades (Live Trade Alerts / Market Commentary / Private Twitter Feed): www.tradersmarts.net
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