Pre-Bell Futures Day Trading Strategy – 20 Nov 2024
Day Trading Strategy for November 20, 2024
Here is a detailed strategy for the futures contracts ES=F, NQ=F, YM=F, RTY=F, GC=F, CL=F, ZN=F, and ZB=F based on the data provided.
1. ES=F (S&P 500 Futures)
Market Overview
Current Price: 5945.5 (+6.75)
Moderate bullish momentum with a slight uptick. The index shows a steady climb with strong volume (147,045).
Technical Analysis
Resistance: 5957.75
Support: 5937
Indicators: RSI approaching overbought levels, but MACD is in a bullish crossover.
Fundamental Analysis
Optimism in U.S. equities following positive earnings and reduced geopolitical tensions.
VIX (16.22) is slightly down, indicating reduced market fear.
Scenarios
Bullish: Break above 5957.75 could target 5975. Stop loss at 5935.
Bearish: Failure at 5937 could drop to 5915. Stop loss at 5950.
Trade Rating: 7.5/10 (Moderate confidence for bullish scenario).
Recommendations
Best Trades
NQ=F - Bullish breakout likely.
GC=F - Strong bullish fundamentals.
Avoid
ZN=F, ZB=F due to limited movement.
Overall Take Profit & Stop Loss for the Day
Take Profit: 2% of account balance.
Stop Loss: 1% of account balance.
This strategy emphasizes high-probability setups while managing risk effectively. Let me know if you need further customization!
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.
