US Indexes to Reverse at the Resistance Zones?
2024.07.30 07:33
made a low for the day at 1.2810/00 and this should be good support again today.
longs are looking at a good profit and the pair is headed in the right direction.
longs at 5900/5890 were stopped.
longs at 1.7720/00 worked on the bounce from 1.7718 hitting 1.7760 and 1.7800 for up to 80 pips profit as we reach 1.7823, not quite as far as the 3rd target of 1.7840 yet.
Shorts in the US stock markets, and worked perfectly as we caught exact high for the day.
E-Mini S&P hit 2 targets, Nasdaq hit the first target so far with further losses likely today.
Today’s Trade Ideas:
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E-Mini S&P September futures shorts at the best sell opportunity for the day at 5520/25 worked as prices collapsed from 5534. The low & high for the last session were 5481 – 5534 (To compare the spread to the contract you trade).
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E-Mini Nasdaq September futures shorts at first resistance at 19350/390 worked perfectly with a high for the day exactly here. Last session high & low for the SEPTEMBER futures contract: 18113 – 19377.
E-Mini S&P 500 September Futures
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Shorts at the best sell opportunity for the day at 5520/25 worked again on Monday. Targets: 5505, 5490 (hit), 5470
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Try shorts at the resistance again today. A break above 5535 is a buy signal targeting 5545 and 5560
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A break below 5458 is a sell signal targeting 5425 and an excellent buying opportunity at 5410/00. Longs need stops below 5385.
Nasdaq September Futures
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E-Mini Nasdaq shorts at first resistance at 19350/390 worked perfectly hitting first target of 19200 as we look for 18950 for profit taking today.
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Try shorts again at 19350/390 with stops above 19440.
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Just be aware that a break below 19,000 can target strong support at 18830/730. Longs need stops below 18600.
