So What... B-Side FLD strategy 2.0

So what is my initial risk / contract on the recent 1.25 wk FLD cross…

About $3,275 / contract… A bit higher than we’ve seen recently

And then from the 3-4 day FLD…

About $1,630 / contract… more manageable

ES… Daily.

2.5 wk FLD targets @ 3026.50. Placing a stop on either side of the blue bar sometimes can be a nice trade. It’s the pivot for the short term trend.

Price stopping @ 5 wk FLD. Also noted is horizontal resistance at the monthly high @ 2994.50.

I have the most recent 1.25 wk low on 10/9. A bit earlier than expected, but still within the tolerance. Using the low from 10/3 of at least 2.5 wk nested the next low may be as early as 10/16. Using 10/9 as the 1.25 wk the best overlap is on 10/18.

The strcuture of the McO is improving and the Summation is changing direction. This structure can indicate an important bottom, but confirmation can only come a bit later. Aggressive traders will likely buy the dip, though at this time I’ll just observe price and see if there is a setup either way. If price can break the 5 wk FLD and overcome 2994.50, test of top will not be far behind.

ES…

The low early this morning likely the nominal 5 day. Aggressive traders that want to get long can use the high of the yellow bar + 1 tick for a BUY STOP. This 2.5 wk cycle is showing right translation so a test of the most recent high is the target. Those that are bearish may use a failure of any test or a break of the FLD.

Since the daily trend is neutral, I will wait for the longer cycle later this week for the next trade. I view any consolidation just under the 5 wk, bullish.

BUY STOP @ 2977.25 would have worked with target achieved in 2 bars.
One can either sell at the target @ 2994 or switch to a shorter time frame for an exit. For example, placing a trailing stop beneath the low of the 5 min bar.

Median price cross of the 5 wk FLD up against monthly resistance here. Target @ 3097. 2.5 wk FLD target @ 3026.50. Long entry @ the next 1.25 wk low.

5 & 10 day nominal FLD. Short term neutral trend with blue bar, red is next. By the morning looking for at least 1 red bar and below the red FLD. That’s the setup with the daily now in an uptrend.

Sequence reboot after support from the 3-4 day FLD. Very rarely does the 2.5 wk low not accompany a downward cross of the 3-4 day FLD.

An overview of the daily on most indices shows price up against opening monthly resistance. except NQ. Interesting note on NQ is its Aug price low was more squewed towards the begining of the month as opposed the small caps.

ES

Progression stopped at the blue bar. Red bars were seen in the INDU & NQ

LONG @ 2999. Target 3022. Risk $1182

5 wk FLD target @ 3097.