ES&CL Prep for January 28th 2020

Pre-Market Prep For ES & CL

Disclaimer: This prep is posted for your reference and learning. This is not financial advice nor trade ideas you should execute. Past performance is not indicative of future results.

High-Risk Events

0830 USD Durable Goods
1000 USD CCI

Trade Plan Video

Note that ES & CL both have those Gaps available to be filled. Overnight condition for ES is possibly IBU (has not to succeed a re-test yet) and CL is IBU. There may be an attempt to revisit yesterday’s the range/value areas at the open to “firm that up” before we try to fill any gaps. As of right now, bulls appear to be in control.

Also, remember both these markets are in more of a bearish trend at this point than bullish one. This could just be to fill the gap and find more sellers. If you can’t get involved on the way up, don’ worry. May have some nice opportunity on the way back down.