S&P 500 - Trading breakout with exhaustion of down momentum
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 31 Aug 2020 trading session. In this video, I am going to show you the market recap during the last session and a potential trade review in the three-minutes timeframe (including entry, exit and the rationale behind). This potential trade was based on a popular breakout strategy I adopted combined with analyzing the momentum of the counter trend. Going forward, I will cover the bias, the key levels to pay attention to, my trading plan for the session later.
Check out my daily market analysis video in the last session below if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); bullish (long term)
Key levels - Resistance: 3550–3560 ; Support: 3500-3510, 3460–3470, 3420–3430
Potential setup - Look for potential long entry upon a test and rebound from 3500–3510.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
Check out my daily market analysis video in the last session below if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); bullish (long term)
Key levels - Resistance: 3550–3560 ; Support: 3500-3510, 3460–3470, 3420–3430
Potential setup - Look for potential long entry upon a test and rebound from 3500–3510.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
Find Out the Top 3 Unknown Stocks Ready to Soar: Click my website below
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.