Pre-Bell Futures Day Trading Strategy - 8 Nov 2024
"Success in trading isn't about predicting every move—it's about mastering your mind, managing your risk, and learning from every trade. Approach each day with discipline, patience, and the willingness to adapt. Remember, the journey is as important as the destination."
1. ES (S&P 500 Mini Futures)
Current Price: 5998.5
Change: -5.25
Volume: 154,594
Market Overview: S&P futures exhibit mild declines, indicating possible cautious sentiment.
Technical Analysis: Resistance stands at 6,010, support at 5,990. A breakout above/below these levels could lead to significant moves.
Foundational Analysis: General risk sentiment impacts ES, given its broad exposure. Watch for earnings and economic data.
Trend Identification: Sideways with a slightly bearish bias.
Trading Scenarios:
Bearish: Short below 5,990, targeting 5,970.
Bullish: Buy above 6,010, aiming for 6,020.
Trade Rating: Medium likelihood, moderate volatility.
Volatility Insight: VIX (Volatility Index)
Current Price: 14.94
Change: -0.26
The VIX is slightly lower, suggesting a decrease in fear among investors. This can lead to steadier, less volatile markets today but could also mean any unexpected negative news could have a larger-than-usual impact due to complacency.
Conclusion: Today’s trading environment presents a balanced setup, with technical levels on each futures contract providing actionable entry and exit points. With slight weakness in equities and strength in Treasuries, consider a cautious approach, balancing both sides of the trade. Stay updated on breaking economic news, as it can shift these scenarios swiftly.
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.
