NFP Plan for $ES/$SPY
$4480 broke on that data this morning making this the sell off that I was after so that was a solid session.
Below $4480 is key to start shorts as it was today - tested and exited for me with SPY puts. $4467 is next - if that breaks then we can test into $4450. That’s what you want and need to happen because it should be an easy trade lower that you can just sit in.
Into the zone and out of it.
Pretty straightforward but going along with the standard retail trader analysis I am going to make up some in-depth reasons as to why this happened and make this a 30-minute read.
Just joking - but seriously.
Simplicity: we’re not trading Credit Default Swaps here this is simply momentum + support/resistance.
The more complicated you make it the harder this is and the longer you prolong making money.
Let’s get into the recap for tonight and the NFP play of action.