S&P 500 expects a test after climatic run up
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 8 Jun 2020 trading session. In this video, I am going to show you the market recap on the last session, plus one trade review in the M3 timeframe (including entry, exit and the rationale behind) based on a test and reversal setup during the London session. Going forward, I will cover the bias, the key levels to pay attention to, and the potential setup for the US session later.
S&P 500 futures (ES)had a big jump on last Friday after a better than expected Nonfarm Payrolls numbers set in. After a test of the resistance level at 3210 mentioned in my previous video, ES retraced and closed at 3186. The character of the rally on last Friday was climactic in conjunction with a jump in the volume. This is usually to be resolved via a test to absorb the excessive supply presented on Friday.
I encourage you to watch my daily market analysis video last Friday below if you haven't in order to better relate with the market recap and trade review.
Bias - neutral (Day trading); Up (Swing trading)
Key levels - Resistance: 3300, 3210; Support: 3135, 3095
Potential setup - look for break down from 3182 for a short or to long near 3135 coincides with the breakout bars.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
S&P 500 futures (ES)had a big jump on last Friday after a better than expected Nonfarm Payrolls numbers set in. After a test of the resistance level at 3210 mentioned in my previous video, ES retraced and closed at 3186. The character of the rally on last Friday was climactic in conjunction with a jump in the volume. This is usually to be resolved via a test to absorb the excessive supply presented on Friday.
I encourage you to watch my daily market analysis video last Friday below if you haven't in order to better relate with the market recap and trade review.
Bias - neutral (Day trading); Up (Swing trading)
Key levels - Resistance: 3300, 3210; Support: 3135, 3095
Potential setup - look for break down from 3182 for a short or to long near 3135 coincides with the breakout bars.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
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