A TRADE PLAN FOR THE PULLBACK
Price in the 
ES1! has made a significant move in the overnight. However, that does not necessarily mean there will be a continuation lower--though it is possible. Five things are significant.
These facts are significant because it indicates that price will likely return higher to develop the profile and find resistance or "chop points" at the NTZs. Initially, price will pull back to develop the profile before moving lower, if it is going to move lower. I am watching price for the pull back into the NTZs and the under developed profile looking to take trades consistent with filling the profile. I view the downriver flow as short until there is a V shaped recovery. If there is a V shaped recovery, I am going to flip this plan in favor of the longs.
ES1! has made a significant move in the overnight. However, that does not necessarily mean there will be a continuation lower--though it is possible. Five things are significant. - Price is respecting support and resistance.
Price is at support.
The move lower made an under developed SVP.
Price moved so fast that it failed to trade at two price points, creating No Trade Zones (NTZs). (NOTE: it is easier to see the slippage on a 5R chart).
Price has been range bound for the week.
These facts are significant because it indicates that price will likely return higher to develop the profile and find resistance or "chop points" at the NTZs. Initially, price will pull back to develop the profile before moving lower, if it is going to move lower. I am watching price for the pull back into the NTZs and the under developed profile looking to take trades consistent with filling the profile. I view the downriver flow as short until there is a V shaped recovery. If there is a V shaped recovery, I am going to flip this plan in favor of the longs.
Win the battles and you will win the war.
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