Futures | Why I Got Long All The Stock Indices on an UGLY CloseThe stock indices all broke below the prior sessions lows to make new lows for the week. But I noticed a few signs that made me pick up some micros long (MES, MNQ, KYM, M2K) right before the 5pm EST close.
Long MES 4385
Long M2K 2152
Long MYM 34822
Long MNQ 14827
$150 risk per position
MES
ES 3924 confluence of strong resistance paints a bearish pictureAlthough it is a bullish falling wedge, the confluence of two strong resistances here should be a good risk/reward short.
DXY still up and TNX yield not hammered down enough today to warrant this amount of exhuberance.
Bear in mind, something absolutely crazy like a run up to 4020 can happen, so be quick to eat the loss if you short this setup right now.
My Futures Trading Intraday Chart Setup For Success! ENA lot of people have emailed us in asking for our Trading View Intraday chart setup and workspace so we wanted to post some ideas here to our Trading View Followers as well. We will be breaking down each individual indicators we use such as Weekly, Daily Levels, Initial Balances Zones, VWAP, Time Frames, Market Internals and Volume Profiles to have a confident edge in your trade setups.
Getting StartedHi everyone, my name is Daniel Abrams, today is my first day on TradingView. I have been trading for the last year and gained a lot of experience during this time. Having big profit days as well as big red days taught me a lot. I think that’s something we all encounter as traders.
The purpose of these posts is to keep me regularly occupied with ideas and analysis of the market and being able to share these ideas with others.
I hope some of you will find it helpful and I look forward to learn from you as well.
Most of my trades I focus on MES future for day trading, other investments are made into companies with strong potential and positive upcoming earnings report. That’s a short term investment for me and quick profits.
The 3rd way, I invest is long term into companies with high cashflow and very steady business.
I will keep posting on this account daily with strategies and analysis of upcoming trades as well as recaps on trades I place.
I wish all of you big profits, let’s stay humbled and keep these profits big.
Sincerely,
Daniel Abramovs
Long Setup for US500 (SPY, ES, MES)Short term Long Setup for US500
A simple but effective technical analysis using tops and bottoms with scale in strategy.
Scaling refers to the trading strategy of buying multiple orders at different prices so as to limit the impact of putting in one big order.
ES and RTY consolidation targetsES / SPX
ATH gives a bullish stance but looking for a correction / more consolidation first.
Looking to retrace to first stop @ 3630
POC for the current run up from 02 Nov 2020 is @ 3560
RTY / RUT
Consolidating below POC, if there is a close below 1822 a retracement to VPVR nodes is likely
First Retracement to 1800 (weak support) then to the next much more solid node @ 1780
A close above current POC of 1845 will generate a probable break of ATH
$MES_F Longer Term Outlook - Reversal Coming?After the $MES1! sellers drove prices down aggressively lower, price has been shifting to a much more range bound stance being confirmed even more by the rounding price action. There are also two separate 3-Press Lows forming at almost identical locations on top of measured move completion targets. There are likely only going to be two responses to this movement -- Aggressive and Conservative approaches.
Nasdaq Moved down till ...
Nasdaq Futures with lots of targets below got stopped dead - as the ES Futures hit yesterdays VPOC - this turned off the downward action.
In the 15 Minute Bar the NQ lost 84 points - the move down was just as quick up, you couldn't hit the buy button fast enough to buy back shorts.
NDX - Gap shown one of only two - unlike SPX which has four for the month of August. Lots of small and single prints that still need to be retested below at some point.
ES Futures - August in Review
As September is just around the corner and the 2020 Elections is just two months away a quick look back at the unfinished business for the month.
As noted there are five Virgin Points of Control in August, moreover there 4 gaps in the SPX - price usually doubles back to confirm price before moving up. This isn't happening - and the market profile is very thin in places.
The lowest Gap in the SPX is at 3284. I'm not here to say the market must confirm these prices - but it usually does.
ES Futures - Everyone is Waiting For the All Time High PrintWe're initiating a swing short 3375 MESU2020 on the double top retest here in the Friday session globex. Using the first extreme turn on the 2H since 7/29. No initial stop, targeting the 50 Fib bid zone at 3300. Small starter position so risk will be .03% of account.
Another expression of the signal is synthetic short calls, shorting the ES and selling ATM ES Puts. We did that small too.