My Plan for Today · The Freedom Formula

My Plan for Today

Wow, what a bounce back overnight! I guess the market is liking the Blue Wave. Seriously, though I think that this is a bit of relief that the uncertainty of the mid-terms is over and now we can get back to business as usual. As nice as it is to see all that green, I do think there's more selling to come; just maybe not right away. We still 2 major wars going on causing economic instability worldwide and there are still looming questions regarding the AI buildout and how that is going to play out the coming months and years. As for today's trading; I like the idea of a retracement back into the discounted area of last night's move for a bullish move higher to take previous daily highs. If we get an initial dip right at open into that lowest 1HR FVG on MES and MNQ I'll look for a move there. Otherwise, we could continue to move higher, close above highs after open and start a new bullish leg up right away. On the other hand, if we take ONH but close back down below and structure shift lower I'd consider a bearish reversal back down to lows. Zooming out to the daily chart; MNQ still looks to be in a bearish trend, MES looks to be moving more sideways than necessarily bearish. MNQ also has a large area of bullish displacement on the weekly chart sitting just below the lows from July, not too far off from last night's London session low. My gut is telling me to be bullish today, but I don't know how much recency bias is playing into that feeling. What an interesting morning it's shaping up to be. Be safe out there.

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My Plan for Today