E-Mini S&P 500 Futures
Friday's plan was to sell the rallies, using slightly wider stops to accomodate for the spike in volatility. That plan worked well. We saw Initative Selling below 1097.75, but Responsive Buyers quickly stepped up and rejected those prices (unfair lows). ES built acceptance in the 1108 and 1116.50 Areas, and Closed at 1107. With greater volatility comes greater risk/reward, and it's important to stick to your plan and not get caught up in the volatility. Unless you're an experienced scalper, over trading in this environment can be an account killer. Pick your spots (use the Key Levels for this), initiate the trade, put on a slightly wider stop, and when the market gives you 5-8 points, take some profits off the table.
ES 5-Minute Chart
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ES Day Session Profile
