Pre-Bell Futures Day Trading Strategy – 26 Nov 2024
1. ES=F (E-mini S&P 500 Futures)
Market Overview: ES=F shows moderate bullish momentum with a 13.75-point increase pre-market. Strong volume suggests active participation.
Technical Analysis:
Support Levels: 5976 (pre-market low), 5960.
Resistance Levels: 6023 (pre-market high), 6050.
Trend Indicators: Upward trend confirmed by higher highs and higher lows on the daily chart.
Volatility Insights: ATR indicates moderate volatility; significant movement possible at the open.
Bullish Scenario: Long at 6025 with a target of 6050, stop-loss at 6010.
Bearish Scenario: Short below 5975 with a target of 5950, stop-loss at 5990.
Trade Rating: High probability (70%) due to market sentiment.
Recommendations
Best Contracts to Trade:
GC=F (Gold Futures): High probability and alignment with fundamentals.
NQ=F (Nasdaq Futures): Strong bullish momentum.
ES=F (S&P 500 Futures): Reliable technical setup.
Contracts to Avoid:
RTY=F (Russell 2000 Futures): Low conviction trend.
CL=F (Crude Oil Futures): Range-bound with limited upside.
Overall Take Profit and Stop Loss
Take Profit: Aim for a 2:1 reward-to-risk ratio on all trades.
Stop Loss: Set tight stops to limit losses, with no more than 1% of your account value at risk per trade.
Prepare for volatility spikes and execute cautiously. Happy trading!
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.
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Risk Warning: Leveraged trading can result in losses that exceed your initial investment. Please trade responsibly.
