Dec. 11 at 11:02 PM
Actionable Trade Alert for
$ES:
Market Context: The current price of
$68.24 is approaching key moving averages and is in a strong bullish momentum indicated by the RSI of 78.5. However, this level is near the 60D high of
$75.25, suggesting potential resistance.
Directional Bias: The RSI indicates overbought conditions, and the price is below both the 30-day MA of
$69.67 and the 50-day MA of
$70.94. This suggests a potential pullback before further upward movement.
Trade Plan:
- Suggested Entry:
$68.50 (slightly above current close to confirm momentum)
- Stop Loss:
$66.50 (risking
$2, approximately 2.9%)
- Take Profit Targets:
1.
$72.00 (target 1, 5.5% ROI)
2.
$74.00 (target 2, 8.0% ROI)
3.
$80.00 (target 3, 17.3% ROI)
This plan allows for a strategic entry with a favorable risk-reward ratio. Monitor the price action closely around the MA levels for potential adjustments.
https://privateprofiteers.com
