$ES Detailed Game Plan for 7/05/2023

I mentioned on July 2nd, "Holding above 4484 or a quick recovery can help the bull to achieve upside resistance levels."

This worked out precisely yesterday.

Plan for tomorrow:

The focus of the game plan is to trade successfully along with support/resistance levels

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Find Out How to Successfully Trade ES Game Plans at

https://www.buymeacoffee.com/esgameplan/how-successfully-trade-es-game-plan. 

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There is no guarantee that all plans can work. However, we need to decide which plan is the safest. Below are the plans explained in sequence

1. The safe long plan is to try long above 4487 if it bounces from 4477. If the price reaches 4477 and recovers the 4484 level, then long above 4487 can be tried.
   
   Long Entry: 4487, Take Profit: 4492, 4500. Stop Loss: 15 points.
   
   Move Stop Loss to Breakeven once you are in 5 to 10 Points Profit. Re-enter only if you are confident.
   

2. Risky Long Above 4484: ES strongly held above 4484 in yesterday's and today's session. If ES continues to hold above 4480 tonight, then risky long above 4484 can be tried.
   
   Risky Long Entry: 4484, Take Profit: 4492, 4500. Stop Loss:4475.
   
   Move Stop Loss to Breakeven once you are in 2 to 5 Points Profit. Re-enter only if you are confident.
   

3. Short below 4475: I will observe ES price to see if it provides weak bounces near 4476-80 and fails to hold above 4480. I will try the short near 4474 after weak bounces.
   
   Short Entry: 4474 Take Profit: 4462-64, 4452 Stop Loss: 15 Points
   
   Move Stop Loss to Breakeven once you are in 5 to 10 Points Profit. Re-enter only if you are confident.
   

4. Risky short below 4492: This plan is only for those with fast-hand trading skills. ES has shown continuous upside resistance at 4492-94 yesterday and today, even though it held above 4484. Short entry can be tried if you observe resistance near 4492-94.
   
   Risky Short Entry: 4492-94, Take Profit: 4484-86, 4475 Stop Loss:2 to 5 points.
   
   Move Stop Loss to Breakeven once you are in 2 to 5 Points Profit. Re-enter only if you are confident.
   

5. Counter Trend Long: 4462, 4442, 4422

   4462 and 4422 both are good entry points to try counter-trend long. I will consider counter-trend long positions if the price bounce or recover quickly near those levels.
   
   Take profit and stop loss is mentioned at https://www.buymeacoffee.com/esgameplan/how-successfully-trade-es-game-plan. 
   

6. Counter Trend Short 4500-02 OR 4534.
   
   If ES continues to go up 4500-02 without any pullback, one could try to direct short at 4500-02 to scalp a few points.
   
   4534 is another strong resistance level where one could try direct short.

Sentiment:

Bull Sentiment: Bull is in control above 4422.