ChartPros Market Insights
May 30 Chart of the Day - S&P 500
While the New York Stock Exchange (NYSE) was closed Monday in observance of Memorial Day the global after-hours electronic trading system (GLOBEX) opened as normal Sunday evening at 6pm eastern time. And given the US debt ceiling headline news over the long weekend the S&P 500 futures ticker /ES gapped up about 20 points on the open to keep the bulls firmly in control.
On the current ES weekly chart I've only marked it up with Support/Resistance and Trend. Also known as basic structure. In this view traders can see that price often ping pongs between historical levels before proceeding in its next direction.
If you'd like to enroll in the same exact Introduction to Price Action Trading using Support/Resistance and Trend course that I took earlier in my trading career we're offering it at an incredibly low price this week revealed at this link.
Navigating the Markets with Price Action Technical Analysis: Expert Tips for Successful Stocks, Options, Futures, Forex, Crypto, and Commodity Trading
Price action technical analysis is a popular and effective approach to navigating the financial markets, including stocks, options, futures, Forex, Crypto, and Commodity trading.
This article will provide expert tips and insights to help you successfully trade various financial instruments using price action technical analysis. By understanding and applying these concepts, you can improve your trading skills and potentially achieve greater profitability.
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Fibonacci, often referred to as “Fibs”, are one of the most commonly used tools in Price Action Trading for trending markets in helping create measured price movements which can assist you in creating bi-directional future levels of interest and anticipate trend reversal zones.
This free guide will explain to you exactly what Fibonacci retracements and extensions are and how they should properly be used on your charts.
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