Breakout trading to ride on the downtrend – S&P 500 day trading [Video]
|Capitulation bar with spike of the supply in S&P 500 broke below the support zone at 3300 without hesitation. Pay attention to the trade review section to find out how to trade the breakout to ride on the downtrend.
Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 29 Oct 2020 trading session. In this video, you will find out the market recap during the last session and trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind) on how to profit from the rejection from the resistance zone. Going forward, I will cover the bias, the key levels to pay attention to, my trading plan for the session later.
Watch my daily market analysis video in the last session 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: 3400–3410, 3360, 3300–3320; Support: 3200.
Potential setup — Look for potential reversal at the key levels.
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