Trading plan for April 29, 2016


ESM6 April 28, 2016. Daily chart.

The Bank of Japan kept their rate unchanged and rejected new QE stimulus for the time being. ES sold off during overnight trading, but managed to squeeze the shorts in the morning session until lunch, when it reversed sharply and sold off about 30 points before bouncing a little into the close.

It squeezed the shorts in the morning and the buyers in the afternoon. It broke through the support level to make a low at 2065.25 before closing about 20 points below the previous close.

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