S&P 500 trade review — potential false breakout trade from the trading range

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 25 Aug 2020 trading session. In this video, I am going to show you the market recap during the last session and potential trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind). Those two potential trades from the trading range were based on false breakout (or spring setup). Going forward, I will cover the bias, the key levels to pay attention to, my trading plan for the session later.

Check out my daily market analysis video in the last session if you haven’t in order to better relate to the market recap and the trade review.

Bias — neutral (Day trading); bullish (long term)

Key levels — Resistance: 3480-3500 ; Support: 3420–3430, 3385–3400, 3377, 3350, 3320–3330, 3300, 3273, 3230

Potential setup — Look for potential long entry upon rebound from 3420–3430.