Pre-Bell Futures Day Trading Strategy - 18 Nov 2024
"Success in trading isn't about predicting the future—it's about preparing for it. Stay disciplined, trust your strategy, and remember that patience and risk management are just as powerful as any market signal. Today, trade with confidence and focus on executing, not chasing."
Based on the provided data and recent market developments, here's a detailed day trading strategy for the specified futures contracts as of November 18, 2024.
1. 30-Year U.S. Treasury Bond Futures (ZB=F)
Market Overview: ZB futures are experiencing a slight decline, reflecting ongoing concerns about rising bond yields.
Technical Analysis:
Resistance: 116.25
Support: 115.28
RSI: Neutral at ~50, indicating no clear momentum direction.
Trade Scenarios:
Bullish: Go long if ZB breaks 116.30, targeting 116.80 with a stop loss at 116.00.
Bearish: Short below 115.20, targeting 114.80 with a stop loss at 115.50.
Trade Rating: Moderate, as ZB is in a consolidation phase.
Volatility Insights: Moderate due to ongoing Federal Reserve commentary.
2. 10-Year U.S. Treasury Note Futures (ZN=F)
Market Overview: ZN futures show minor declines, reacting to mixed inflation expectations.
Technical Analysis:
Resistance: 109.58
Support: 109.14
Trade Scenarios:
Bullish: Long above 109.60, targeting 110.00 with a stop loss at 109.30.
Bearish: Short below 109.10, targeting 108.80 with a stop loss at 109.40.
Trade Rating: High for bearish trades given bond market trends.
3. Crude Oil Futures (CL=F)
Market Overview: Crude oil is slightly up, supported by geopolitical tensions and supply cuts.
Technical Analysis:
Resistance: 67.66
Support: 66.61
Trade Scenarios:
Bullish: Buy above 67.70, targeting 68.50 with a stop loss at 67.40.
Bearish: Short below 66.50, aiming for 65.80 with a stop loss at 66.90.
Trade Rating: Moderate due to supply-driven volatility.
Volatility Insights: High, driven by OPEC updates.
4. Gold Futures (GC=F)
Market Overview: Gold continues to rise sharply due to safe-haven demand.
Technical Analysis:
Resistance: 2,609.90
Support: 2,568.50
RSI: Overbought (~70), indicating possible short-term correction.
Trade Scenarios:
Bullish: Buy above 2,610, targeting 2,630 with a stop loss at 2,590.
Bearish: Short below 2,570, aiming for 2,550 with a stop loss at 2,590.
Trade Rating: High for bullish trades given strong momentum.
5. E-mini Russell 2000 Futures (RTY=F)
Market Overview: Small-cap stocks are trending upward with increased optimism.
Technical Analysis:
Resistance: 2,327.90
Support: 2,311.10
Trade Scenarios:
Bullish: Long above 2,330, targeting 2,345 with a stop loss at 2,320.
Bearish: Short below 2,310, aiming for 2,300 with a stop loss at 2,320.
Trade Rating: High for bullish trades due to strong domestic growth.
6. E-mini S&P 500 Futures (ES=F)
Market Overview: S&P 500 futures are trending upwards, supported by strong corporate earnings.
Technical Analysis:
Resistance: 5,915.75
Support: 5,886.50
Trade Scenarios:
Bullish: Go long above 5,920, targeting 5,950 with a stop loss at 5,890.
Bearish: Short below 5,880, aiming for 5,850 with a stop loss at 5,900.
Trade Rating: High for bullish trades based on recent performance.
7. E-mini Nasdaq Futures (NQ=F)
Market Overview: Tech sector strength is driving Nasdaq futures higher.
Technical Analysis:
Resistance: 20,657
Support: 20,476
Trade Scenarios:
Bullish: Long above 20,660, targeting 20,800 with a stop loss at 20,600.
Bearish: Short below 20,450, aiming for 20,300 with a stop loss at 20,500.
Trade Rating: Very high for bullish trades given strong tech earnings.
8. E-mini Dow Jones Futures (YM=F)
Market Overview: Dow Jones is under slight pressure due to weaker industrial stock performance.
Technical Analysis:
Resistance: 43,621
Support: 43,398
Trade Scenarios:
Bullish: Buy above 43,630, targeting 43,800 with a stop loss at 43,500.
Bearish: Short below 43,380, aiming for 43,200 with a stop loss at 43,500.
Trade Rating: Moderate, as market sentiment is mixed.
Ranked Recommendations
NQ=F: Best probability of success due to strong tech momentum.
GC=F: Reliable bullish setup amid safe-haven demand.
RTY=F: Small-cap growth gives a strong edge.
ES=F: High potential due to corporate earnings.
CL=F: Volatile but promising if conditions align.
YM=F: Mixed sentiment; proceed cautiously.
ZN=F: Moderate opportunity; follow bond market signals.
ZB=F: Least attractive due to consolidation phase.
Focus trades on NQ=F and GC=F for maximum success probability and avoid ZB=F for now.
Day Trading Strategy Disclaimer
ALWAYS DO YOUR OWN ANALYSIS. NO ONE CAN PREDICT THE STOCK MARKET, BUT YOU CAN MAKE INFORMED DECISIONS TO INCREASE YOUR CHANCES. IN DAY TRADING: MINDSET AND ATTITUDE BEATS SKILL. CHOOSE THE SCENARIO THAT MEETS YOUR RISK AND STRATEGY AND SECURE THE WIN. NOT EVERYDAY IS A TRADING DAY AND ALWAYS LIVE TO TRADE ANOTHER DAY
The content provided in this blog, including day trading strategies, technical analysis, and market insights, is for informational and educational purposes only. The information should not be construed as financial advice, investment recommendations, or an endorsement of any trading strategy. Trading futures, options, and other financial instruments carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results.
You should thoroughly evaluate your financial situation and risk tolerance before engaging in any trading activities. It is advised that you consult with a licensed financial advisor or professional who can provide personalized investment advice tailored to your individual needs.
The author and publisher of this blog do not guarantee the accuracy, completeness, or timeliness of the information and will not be liable for any losses or damages, including, but not limited to, any loss of profit or investment, which may arise directly or indirectly from the use of or reliance on such information. By using this blog, you acknowledge and accept these terms and any inherent risks associated with trading.
Risk Warning: Leveraged trading can result in losses that exceed your initial investment. Please trade responsibly.
