S&P 500 trading the reversal with effort vs result analysis
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 21 Aug 2020 trading session. In this video, I am going to show you the market recap on the last session and a potential trade review in the three-minutes timeframe (including entry, exit and the rationale behind). This is a reversal trade based on a test of the support level with Wyckoff's effort vs result analysis. 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 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: 3377, 3350, 3320–3330, 3300, 3273, 3230
Potential setup - Look for a test of the last hour bar from yesterday near 3377 and long on reversal.
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 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: 3377, 3350, 3320–3330, 3300, 3273, 3230
Potential setup - Look for a test of the last hour bar from yesterday near 3377 and long on reversal.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
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