Day Trading Levels – 19 November 2014

The S&P futures made a nice rally-base-drop overnight that I will be looking to sell. The zone is from 2,052.25 – 2,054. Since making the zone it has just been chopping around in the pivot range. I have three targets on that zone, the first three points, the second at the demand level at 2,037.50 & the last at the daily chart demand at 2,030.50 (see image below). It is not uncommon for the futures to sell off first thing these days, only to catch a bid and rally for the rest of the day.

ES - 15 Minute - 19 November 2014
ES – 15 Minute – 19 November 2014

 

Looking at the daily chart, there is a lovely looking demand level at 2,026.75 – 2,030.50 that I will be looking to buy. It is fresh, and also a bear trap as I think there are some stops under 2,031.25.

ES.D - 15 Minute - 19 November 2014
ES.D – 15 Minute – 19 November 2014

Keep warm and have a good day’s trading.

Leave a Reply

Your email address will not be published. Required fields are marked *