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Eminisp500

Breakout Or Fakeout?The S&P 500 futures are trying to get above the top of their range at 3804. The last hourly candle closed above it and we're seeing relative strength from the Russell 2000, Nikkei 225, and other indices here in the US and around the globe. Testing the waters here if I can get an entry at 3805 and look for upside towards 3855 over the coming hours/days. My stop is below that hourly candle's low, which also corresponds with the VWAP for the session at 3795. Reward/risk is 5:1 and sizing this risk at roughly .30% of the portfolio...so relatively small given two straight days of trading losses.
CME_MINI:MESH2021Long
by TomBruni
E-mini S&P 500 - wedge breakoutThe upper limit within a wedge pattern has been broken on the E-mini S&P 500 futures chart. It seems that the breakout took place with a significant strength of the bulls. This type of fast upward movement may be labeled as a potential wave 3 and is known from the Elliott wave theory. Key support seems to be placed at 3221 pts. and possible next resistance could be located at 3414 pts. If the whole five wave structure is about to continue, we could assume that wave four and wave five is about to create in the near future. _____________ Daniel Kostecki, Chief Analyst Conotoxia Ltd. Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CME_MINI:ES1!
by Daniel_Kostecki