Up to 1000 ticks profits on the short Emini S&P 500 trade [Video]

Emini S&P June futures shorts at strong resistance at 5145/55 worked perfectly as the index crashed 100 points yesterday.
.Emini Nasdaq collapsed from just below my resistance at 18050/18150.

Jason Sen DayTradeIdeas.co.uk

Emini S&P has recovered all the losses and bounced 100 points to 5,134

Shorts at strong resistance at 5145/55 worked perfectly with a high for the day exactly here before the index crashed to my targets: 5130, 5110, 5090 & even 5050 !!
A great call!!
We should have support at 5050/5040 (with a low for the day almost exactly here yesterday) & longs need stops below 5025.
Targets: 5080, 5100, 5110.
If we see a very strong bounce we should meet strong resistance again at 5145/55.
A break lower is a sell signal & sees 5035/45 act as resistance to target 5020 & 5010/05.
A break below 5000 is the next sell signal targeting 4985 & even 4970/65 is possible.

Nasdaq June futures caught me out as we shot higher to 17,717

We headed lower as expected but unfortunately could not quite reach strong resistance at 18050/18150 although targets of 17850, 17750, 17650 were all hit.
Holding below strong resistance at 17570/630 keeps the pressure on for 17330/300, perhaps as far as 17150.
Shorts at 17570/630 stop above 17680.

Author

Jason Sen

DayTradeIdeas.co.uk

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD falls toward 1.1700 on broad USD recovery

EUR/USD turns south and declines toward 1.1700 on Wednesday. The US Dollar gathers recovery momentum and forces the pair to stay on the back foor, as traders look to USD short-covering ahead of US inflation report on Thursday. However, the downside could be capped by hawkish ECB expectations.

GBP/USD trades deep in red below 1.3350 after soft UK inflation data

GBP/USD stays under strong selling pressure midweek and trades below 1.3350. The UK annual headline and core CPI rose by 3.2% each, missing estimates of 3.5% and 3.4%, respectively, reaffirming dovish BoE expectations and smashing the Pound Sterling across the board ahead of Thurday's BoE policy announcements.

Gold clings to moderate daily gains above $4,300

Following Tuesday's volatile action, Gold regains its traction on Wednesday and trades in positive territory above $4,300. While the buildup in the USD recovery momentum caps XAU/USD's upside, the cautious market stance helps the pair hold its ground.