Top-Down Analysis - S&P 500 Futures
업데이트됨
This post is a classic multiple-timeframe analysis on ES futures. You can just read it , incorporate it into your own current analysis , and furthermore use it as a template to analyse other markets. 😃 They are all welcomed !!!
Now I will post the most important piece here , and other related analyses will be at the comment session.
The discussion will start with a weekly ES chart.
First, we need to draw horizontal lines that clearly identify the zones of demand and supply ✍. Stop! What is a zone of demand/supply? Bear in mind, a demand zone describes a price level that is too cheap and people just rush in to buy. Usually they appear on a technical chart a "V" shape, and no consolidation happen at that level all the time. The logic is the same for a supply zone, and they show up in an inverse "V" shape.
In addition to zones of demand and supply , I also drew an ascending channel , which is a good fit to describe the ultimate bullish move last couple of months. A false breakout of the channel , price returning inside the channel , price not finding support until hitting the demand zone , just a perfect summary of what happened in the covid-19 market.😵
Here is my prediction:
ES will find support at around 2400-2500 and continue its bullish move again. I will explain it with an inverse head-and-shoulder pattern. Left shoulder at 2400-2500 , head at 2200 , and the right should be at ? It takes some imagination , but I can tell you the right one are always at similar levels as the left one is.
As a chartist, we should always imagine how the chart will work out rather than use hindsight to tell a story.🕵
If you really love the way I wrote about ES, please like,share my posts and follow my little account. I will do more this kind of analysis on other markets if the feedback from you is positive and encouraging!!! 😘
Don't miss the comments below, hourly and minute chart are right there.🤣
Now I will post the most important piece here , and other related analyses will be at the comment session.
The discussion will start with a weekly ES chart.
First, we need to draw horizontal lines that clearly identify the zones of demand and supply ✍. Stop! What is a zone of demand/supply? Bear in mind, a demand zone describes a price level that is too cheap and people just rush in to buy. Usually they appear on a technical chart a "V" shape, and no consolidation happen at that level all the time. The logic is the same for a supply zone, and they show up in an inverse "V" shape.
In addition to zones of demand and supply , I also drew an ascending channel , which is a good fit to describe the ultimate bullish move last couple of months. A false breakout of the channel , price returning inside the channel , price not finding support until hitting the demand zone , just a perfect summary of what happened in the covid-19 market.😵
Here is my prediction:
ES will find support at around 2400-2500 and continue its bullish move again. I will explain it with an inverse head-and-shoulder pattern. Left shoulder at 2400-2500 , head at 2200 , and the right should be at ? It takes some imagination , but I can tell you the right one are always at similar levels as the left one is.
As a chartist, we should always imagine how the chart will work out rather than use hindsight to tell a story.🕵
If you really love the way I wrote about ES, please like,share my posts and follow my little account. I will do more this kind of analysis on other markets if the feedback from you is positive and encouraging!!! 😘
Don't miss the comments below, hourly and minute chart are right there.🤣
노트
Summary of 5-min chart:
Broken ascending channel , with a little inverse head and shoulder down below, confused if the downtrend will continue
노트
Summary of hourly chart:
Month-long ascending channel broken, a dead cat bounce probably setting in, targeting at 2635 supply zone before
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