March 20, 2025 A 10 Hour Lesson

Trade #1 March 20 - Entry 5690 - T1 5702, T2 5716, T3 5740, Runner Stopped 5704

ESDaily March 2025 Scoreboard

If I could explain the importance of taking profits when they were due, I’d have to do no more than show the chart of today’s price action.

In the last 10 hours, 5760 down to 5683 back up to 5765 and back down to 5695 before finding a close near 5715.

Nearly 250 Points of Movement

The type of thing most professionals live for. But, most traders got whacked today because they simply don’t take profits.

Luckily for us, we did just fine.

1 Trade - All 3 targets hit, and a runner stopped 14 points higher than the entry

After FOMC Wednesday, as we attempt to form a bottom after a nearly 11% sell, we continued asking ourselves, even into this AM… is this actually the bottom, or is it a continuation of late February’s selloff?

In today’s newsletter we look at price finding a wide consolidation between 5755 and 5690.

As I wrote very early this AM, “Levels work”

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.

In the last newsletter I wrote:

For any new longs, (and we’re printing 5750 now as I type) I’d really not being interested in buying without a meaningful pullback like the one I mentioned to 5700/5690. That would be some additional liquidity.

I included the following levels:

Support levels: 5718, 5690(D) ,5673, 5667, 5651(D),etc.

Early this AM, we got price into our 5690 area, and upon acceptance… or some call it “confirmation” we were able to pull the trigger long.

All three targets were hit.

The runner on this particular trade stopped out at 5704, even though we continue to hold a position from previous days.

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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