A profitable pullback trading strategy as per the textbook – SP 500 day trading [Video]

Ming Jong Tey Independent Analyst

A false breakout sets up the stage to trade the pullback like the textbook. Find out this profitable yet simple pullback trading strategy in the trade review section.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 30 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: 3300–3320, 3260; Support: 3200–3230

Potential setup — Look for potential reversal at the key levels.

Author

Ming Jong Tey

Independent Analyst

Ming Jong Tey has been trading since 2008. He started his learning journey from technical analysis (indicators, Fibonacci, etc...) to value investing. Throughout his journey, he develops an interest in price action with chart pattern trading.

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