March 19/March 20AM

Internet service restored overnight. March 19 recap and March 20 plan

As we attempt to form a bottom after a nearly 11% sell, we have to ask ourselves… is this actually the bottom, or is it a continuation of late February’s selloff?

The FOMC Fed day’s absolutely have the ability to cause either one of those things to be true. Going into FOMC day we had positions, and we’re prepared for price discovery.

FOMC day March 19 delivered big gains as we were paid handsomely on Trade#2 from March 18th, and runners continued to work.

In today’s newsletter we look at price bottoming after the Fed helped push us 106 points higher than our 5664.25 entry

Levels work.

The reason most traders have difficulty with profitable trading is because they fall into the same retail trap… hoping for homeruns, moving stops… not having any real rules or profit taking strategy.

The entire purpose of this newsletter is to help identify levels, help develop a strategy and then become a robot once we entered into a trade.

The targets that are set… are simply next level ups.
They aren’t arbitrary.

And the reason they are levels…. is because ES is the largest financial instrument and by it’s very nature, it seeks levels.

The evening of March 18th at 9:11PM our first target was hit, and as futher levels were identified we went into Fed day locked in with gains targets set, knowing it was going to be a light trading day.

Targets 5700 and 5716 were hit by 11:45AM (while I was traveling) and pulled back to 5680 before the Fed announcement.

With a hugely profitable trade in the bag, by 12:30 the stops on runners were moved to 5670

As traders awaited 2PM we just let price play out.

Be sure to follow me on Twitter https://x.com/ESDailyTrader for updates on trade entries/exits/ect. as this gives a more live approach in addition to the newsletter, the lookbacks, outlooks, trade reviews, and plan.

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