S&P 500 - analysis of a breakout trade with 3 entries

14 авг. 2020 г.

Yesterday S&P 500 had a small spread candle with decreasing volume. This could be a sign of supply absorption before the next rally up. A failure below yesterday's low could see S&P 500 to test 3320 level.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 14 Aug 2020 trading session. In this video, I am going to show you the market recap on the last session and trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later.

Check out my daily market analysis video on last session 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: 3385–3400; Support: 3360–3365, 3320–3330, 3300, 3273, 3230

Potential setup - Look for potential long near 3360 upon a rebound.



Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.