Pre-Bell Futures Day Trading Strategy – 27 Nov 2024
ES=F (S&P 500 Futures)
Market Overview:
Current trend: Bullish
Key levels: Pivot at 6036, Resistance 1 at 6036.75, Support 1 at 6034.75.
Technical Analysis:
Price above VWAP (6005.03) indicates strong bullish momentum.
Fibonacci levels suggest potential for further upside, with Resistance 2 at 6038.
Higher trading volume around support levels indicates buying interest.
Scenarios:
Bullish: Entry at VWAP (6005.03), Target at 6036.75, Stop Loss at 6034. Risk/reward ratio: 1.67.
Bearish: Break below 6034 could target 6030.
Volatility Insight: Moderate volatility expected; range bound within key levels 6034–6038.
Actionable Insight: High confidence for bullish trade if price holds VWAP. Avoid shorting unless support is breached.
Summary Recommendation
Best to Trade Today:
NQ=F: Strong bullish momentum and high volatility offer good opportunities.
ES=F: Clear trend and moderate risk/reward ratio.
RTY=F: Potential breakout above resistance.
Avoid:
CL=F, ZN=F, ZB=F: Neutral trends and low volatility limit profitability.
Overall Day Strategy:
Take Profit: 1.5x ATR (average true range) for active trades.
Stop Loss: 1x ATR or nearest support/resistance.
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
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Risk Warning: Leveraged trading can result in losses that exceed your initial investment. Please trade responsibly.
