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S&P 500 still in a trading range - daily market analysisCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 7 May 2020 trading session. In this video, I am going to show you the market recap on yesterday's session on Tuesday including trade review in M3, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 6 May 2020 recap - S&P 500 tested the high near 2890 and started a reaction towards the support level at 2850, which was mentioned in my video yesterday. The rally off the support was mediocre. There was no strength for the subsequent lifts from the support level at 2850, which lead to a sell off below the level. Watch my market analysis video from yesterday if you haven't so that you can relate to the trade review presented in today's video: So far, S&P 500 still trading within a range between 2825-2890. Commitment above 2890 should see a test of 2960, which is the swing high. A broke below 2830 could see S&P 500 to test the lower levels at 2770–2800. Bias - neutral (day trading); Up (swing trading) Key levels - Resistance 2880–2900, 2960 (Swing high); Support: 2840-2850, 2820 Potential setup - a test and reversal from 2880–2900 could present a short entry. Else a bounce from 2840-2850 could be a entry for long. The targets for take profit are based on the key levels (plus day high, low from previous day, non-RTH high, low, etc…).
CME_MINI:ES1!
by mingjong
2
S&P 500 daily market analysis with trade reviews yesterdayCheck out the video for a complete walk through of the daily market analysis of S&P 500 futures ( CME_MINI:ES1! ) for 6 May 2020 trading session. In this video, I am going to show you the market recap on yesterday's session on Tuesday including a potential trade setup in M3, the bias going forward, the key levels to pay attention to, and the potential setup for the US session later. 5 May 2020 recap - S&P 500 broke the non-RTH high formed in the London session at the opening bar, followed by testing the resistance area at 2880–2890, which was mentioned in my daily market analysis yesterday. There was no significant reaction until the sell-off happened at the last hour bar with increasing supply. Watch the market analysis for S&P 500 yesterday below if you haven't done so: Refer to the video for a classical short entry after a break below followed by inability to rally up. Yesterday last hour sell-off at resistance level of 2890 was accompanied by increasing of supply. I anticipate S&P to spend some time between 2840–2900. A break above 2900 should see S&P 500 to test higher target at 2960. Bias - neutral (day trading); Up (swing trading). Key levels - Resistance 2880-2900, 2960 (Swing high); Support: 2850 Potential setup - a test and reversal from 2890 could present a short entry. Else a bounce from 2850 could be a entry for long. The targets for take profit are based on the key levels (plus day high, low from previous day, non-RTH high, low, etc…).
CME_MINI:ES1!
by mingjong
2
NIO 7/9/19: Successful trade recap. Gap Fill ContinuationTraderNoxtreme here for a quick trade recap for you all. This one pretty much fell in my lap which is what you want in trading. This being said, the more you search for setups the more trades fall into your lap. Last night a YouTube video alerted me to a small gap setup on NIO. I quickly charted it and threw it on my watchlist. Premarket NIO pushed up into the gap (missing the gap fill by a tiny bit). On market open NIO pulled back then pushed up through the gap. I had an alert set at 3.61 to let me know it was time to see what would happen as I would have played it short if we clearly rejected. What happened was we formed a few 2 min candles of support right on 3.61 and then we got one strong confirmation candle which prompted my entry at 3.66. We then pulled back a little and found support at 3.61 (the dip under was a bit sketch but I held through because we had EMA 26 and I knew we had already filled the gap twice so there was some faith involved). After we got through the moment of panic, we pushed back up and I just kept a mental stop at EMA26 until we broke through 3.66 and it was clear sailing. I took off 1/4th of my position at 3.76 to give myself a buffer just in case we tested 3.61 again but it was not needed. We ran all the way up to 3.90 and I put in a sell at 3.98 thinking 4 psychological would be a good place to get out since nearly ever time frame was oversold at that point. We pulled back a little and then I noticed there was a seller who was throwing massive amounts of shares on the ask at 3.85. I waited for an hr but when I saw the hourly candle close as a indecision doji at the top of an uptrend, a big buy volume spike on the 2 min that could not break through and all important time frames were oversold or close to it, I made the choice to exit my remaining shares at 3.85. Glad I did! SUBSCRIBE for more. Like this idea no matter what. Join the Discord group we are building. We never stop learning and we do good things :) discord.gg
NYSE:NIO
by Noxtreme
1
Trade Ideas Review : EURJPY BatJust like all other traders, at the moment when this trade is engaged, the trader(I) see this trade as a Profitable Trade, hence, I've engaged the trade. What makes me different is that the trading system has been tested, I emotionless engage the trade in acceptance of the worst case scenario, in this case, losing. The outcome on either Profit or Loss doesn't surprise me in any way. In this case, a 38pips if a standard contract traded, it's a 380USD/lot gained. To me, I measure all profitability in pips and not in %gained as each trader might engage the same trade in a different approach. This trade was spotted last week during our Live Mid-Week Analysis, full video version can be found on our facebook page, under Mid-Week Analysis. EURJPY was our fourth analysis of the session. So what are you waiting for? Like our facebook page and join our live session.
Long
by RaynLim