A false breakout sets up the stage to trade the pullback like the textbook. Find out this profitable yet simple pullback trading strategy in the trade review section.

Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 30 Oct 2020 trading session. In this video, you will find out the market recap during the last session and trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind) on how to profit from the rejection from the resistance zone. Going forward, I will cover the bias, the key levels to pay attention to, my trading plan for the session later.

Watch 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: 3300–3320, 3260; Support: 3200–3230

Potential setup — Look for potential reversal at the key levels.

SP500

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended Content


Recommended Content

Editors’ Picks

AUD/USD looks at the RBA for near-term direction

AUD/USD looks at the RBA for near-term direction

AUD/USD resumed its rebound and briefly surpassed the 0.6600 barrier on the back of the renewed and marked resurgence of the downward bias in the US Dollar. Investors, in the meantime, expect the RBA to keep its rates unchanged on Tuesday.

AUD/USD News
EUR/USD: Price action hinges on the US election and the Fed

EUR/USD: Price action hinges on the US election and the Fed

EUR/USD managed to trespass the key 1.0900 hurdle and print new highs following the Greenback’s offered stance as investors warmed up for the US election and the FOMC event later in the week.

EUR/USD News
Gold trades around $2,730

Gold trades around $2,730

Gold price is on the defensive below $2,750 in European trading on Monday, erasing the early gains. The downside, however, appears elusive amid the US presidential election risks and the ongoing Middle East geopolitical tensions. 

Gold News
Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF

Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF

Ethereum (ETH) is trading near $2,420, down about 1% on Monday, but could bounce off a key descending trendline close to the $2,258 historically high demand zone. 

Read more
US presidential election outcome: What could it mean for the US Dollar?

US presidential election outcome: What could it mean for the US Dollar? Premium

The US Dollar has regained lost momentum against its six major rivals at the beginning of the final quarter of 2024, as tensions mount ahead of the highly anticipated United States Presidential election due on November 5.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Majors

Cryptocurrencies

Signatures