🎇Ocean's 5433 - A Countertrend Heist
Today's trade plan, including SPY levels analysis and a flow play.
This morning mini-YEET is a trade plan for how we will tackle the rest of the week at YEET Plus generally. Obviously, when things break down we’ll improvise like a young Willie Beamen.
PS It’s early as hell, so please excuse any typos and lack of memes lol.
So, as we all know we’ve been in a massive downtrend the past couple of days. The selloff looks to continue during the overnight session —bears are in control, no doubt about it.
Which is why it may surprise you to hear me tell you we’re going to waltz right out of this dump carrying big ol’ bags of call profits in broad daylight at ES 5433 (or, ya know, nearby)
🕵️The Plan
A heist this daring is going to require a few different things working in our favor. Luckily for us, the Price Action is on our side.
🌑 First Up: Night Watch
Futures overnight cleared the way as needed—the (likely) deep red open in futures did two things for us:
Push us well beneath the neatest monthly level, and on the brink of testing the next on
Officially put us back in our new Downward Channel, giving us structure to move within (and bust out of 😉)
💎Step 2: The Breakout
With the overnight dump lulling everyone to a bearish trans, nobody will even realize when we catch support at 5433 (The ES Monthly level) and work on a breakout off the channel/trend
.If the candles signal a breakout from the channel (easy to determine based on if the monthly support holds), then we’re a go on:
SPY 542c
If the breakout holds (the candle doesn’t retreat back into the channel) then we deploy our secret weapon for the big payday….