After 10 days of selling, ES finally put in a green day today. There has been two such green days since the pullback leg began on March 29th, but this one notably was the largest. The last two green days resulted in fairly direct failures/downside (dead cat bounces), and today’s was an inside day. As most know, inside days represent consolidation, and break out with sharp moves.
This may be tomorrow. Yesterdays trade plan played out perfectly, I wrote: “Literally nothing changed from yesterday. We are at the same support zone so therefore, I will continue looking for the same thing. I am currently trying long based on the small fake break-down setup late today with 4415, 4445 targets”.
We closed the day right at 4445, and this level is *very* important. Today, I will discuss where I think we go from here into the end of April, as well as talk about my strategy for trailing stops and managing trades