S&P 500 symmetrical triangle pattern breakout
Yesterday S&P 500 futures tested the previous day high level at 3068 and subsequently rallied up and consolidated via a symmetrical triangle (or apex formation). It broke out the apex formation earlier on during the London session. It is anticipated to at least test the swing high at 3156.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 17 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) before the US session. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday below if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); Up (long term)
Key levels - Resistance: 3160, 3180, ; Support: 3070, 3030
Potential setup - look for a test of the breakout bar near 3120 to long on rebound. Else a test and rejection from the swing high considered for a short entry.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 17 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) before the US session. Going forward, I will cover the bias, the key levels to pay attention to, the potential setup for the US session later and the current market condition.
I encourage you to watch my daily market analysis video yesterday below if you haven't in order to better relate to the market recap and the trade review.
Bias - neutral (Day trading); Up (long term)
Key levels - Resistance: 3160, 3180, ; Support: 3070, 3030
Potential setup - look for a test of the breakout bar near 3120 to long on rebound. Else a test and rejection from the swing high considered for a short entry.
Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.
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