S&P 500 - Trading breakout with exhaustion of down momentum

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 31 Aug 2020 trading session. In this video, I am going to show you the market recap during the last session and a potential trade review in the three-minutes timeframe (including entry, exit and the rationale behind). This potential trade was based on a popular breakout strategy I adopted combined with analyzing the momentum of the counter trend. 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 in the last session below 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: 3550–3560 ; Support: 3500-3510, 3460–3470, 3420–3430

Potential setup - Look for potential long entry upon a test and rebound from 3500–3510.

Disclaimer: The information in this presentation is solely for educational purpose and should not be taken as investment advice.