Futures Day Trading with Volume ProfileToday was yet another amazing trade off a long term volume profile level for over 50 points on the CME_MINI:ES1! S&P500 E-mini futures.
I want to document these trades as teachable moments because I think Volume Profile is an absolutely amazing tool that should be in ever trader's toolbox!
About S&P 500 E-mini Futures
S&P 500 — short for Standard and Poor's 500, is a United States stock market index based on the market capitalizations of the top 500 companies that have common stock listed on the New York Stock Exchange or NASDAQ. With its headquarters in New York City and dating back to 1860, Standard and Poor's has offices in 23 countries and maintains the SP 500 index. Over $1.25 trillion USD is indexed to Standard and Poor's portfolio of indices, which includes the S&P 500. The S&P 500 index seeks to reflect the status of the whole stock market by tracking the return and volatility of the 500 most commonly held large cap company stocks on the NYSE, capturing approximately 80% of total market capitalization. The 500 companies comprising the SP500 span all major industries and are selected based on their market capitalization, liquidity, ability to be traded, as well as other factors. Additionally, the importance of the SP500 is highlighted by its use as an economic indicator of the health of the United States economy.
ES Midday ActionWTF was that? 15 minute pump, 15 minute dump. Talk about a bull trap.
I don't recommend going long until after Israel bombs Iran, that should cause the daily to go oversold. Look to play the bounce a day or two after it happens.
Note: 15 min chart, ignore the indicators, they just show up becau
Market Recap: What A Great Pullback DayI think video, I covered an awesome pullback day. Where we could've entered, what the week looked like to me and what I expect next week without doing my weekend analysis.
ES afternoon updateBoy the market is moving fast. RSI already hit oversold.
Closed out my puts, going all cash for the weekend. If Iran doesn't do anything, we'll probably see another pump Monday, lol.
Crazy whipsaw market, pay attention to the channel I drew (unless Iran actually does something)
Head and shoulders on ESForgive me for using MES, but it’s easier because I don’t have to clear any existing markup. I’ve been watching this H&S pattern form for a while now and looks very clean on the 8 hour chart here. The measured move for the breakdown takes us to 5000. I expect that we retest the neckline and clean up
ES UpdateWell, I posted last night that I wasn't gonna trade. Expecting a bounce tomorrow, but probably too small to make it wort teh risk. If a market can melt up, it can melt down as well.
My advice is to just stay cash and take a break.
ES Daily UpdateI don't like the fact that the market didn't bounce with MFI oversold on my 3 hr chart, so at this point, I'm inclined to wait until the daily indicators go oversold before buying the dip.
Why give away your profits for the year? Makes more sense to be cautious. Gonna sit back and watch Iran and
ES Before Bedtime UpdateAll 3 indicators are oversold, but quite frankly I'm not very bullish. I'd rather short the pumps at this point. Probably not trading tomorrow.
My best guess is that Israel will attack on April 26th, because it's my birthday, lol.
ES UpdateES hit the bottom trendline, but like I said last week, I'm not going long until both RSI and MFI hit oversold. Quit frankly I'm scared to hold any long position overnight, so probably just gonna day trade tomorrow if it does go oversold.
I didn't post this morning because I wasn't quite sure what
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Frequently Asked Questions
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for S&P 500 E-mini Futures. Today its technical rating is sell, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of S&P 500 E-mini Futures technicals for a more comprehensive analysis.
The current price of S&P 500 E-mini Futures is 5040.00 USD — it has fallen 0.18% in the past 24 hours.
The volume of S&P 500 E-mini Futures is 443.14 K.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For S&P 500 E-mini Futures this number is 2.07 M. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for S&P 500 E-mini Futures shows that traders are closing their positions, which means a weakening trend.