FT400 ES/SPX Futures Trading - Setups/Levels

FT400 ES/SPX Futures Trading - Setups/Levels

Thoughts for Wednesday 8/30

ADP and Home Sales tomorrow

Aug 30, 2023
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We had short against 44 for globex with 52 as bull bear. London open flipped us long against 44 which gave couple points. But 52 acted as good resistance and market dropped to 34’s by morning.

With RTH open we started staying above 44 causing another flip to long. I was stuck in traffic so could not participate in long, and as I missed first long, we waited for 10 am econ that saw market lift further to our resistance area 66 which we did try as short but it only retraced 4-5 points so did not get paid on that one. After that we stayed out of the market waiting for long opportunity that never came back, so we stayed out of the market except one another try at short against 00 that we were able to do free. Over all a FOMO day for me as I had 44 and 52 as important level and it flipped to long while I was away from action. Price does not wait for any one so I just missed it. You have to be there to execute when price and setup presents, other wise wait for next setup.

Econ for tomorrow and full week:

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