S&P 500 – How to trade the descending or falling wedge with high winning rate [Video]
|Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 28 Sep 2020 trading session. In this video, I am going to show you the market recap during the last session and trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind). In the market recap, I will explain why this falling wedge could possibly mark the temporary bottom of S&P 500 and how to trade the descending or falling wedge pattern with high winning rate. 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 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: 3320, 3360, 3420–3450; Support: 3200–3230, 3280–3300.
Potential setup — Look for potential reversal at the key levels.
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