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ES! Futures Analysis

ES! Futures Analysis

Hey, Nate here. Here is my technical analysis for the S&P 500 futures . This will be particularly useful for intraday trading and scalping. I use an incredibly sensitive VPVR setting to pinpoint volume nodes in market structure. Around these levels is generally where I will look for opportunity. I use a simple market following system to watch for things like reclaim or loss of price nodes, and tests of support/resistance areas to form a bias. In proper context, I will watch the test of a high volume node on footprint and usually go for scalps as liquidity will be quite good. If the node is one that I am biased for a reversal, I will set a runner to try and capture more of the move.

Dashed Lines = LVN , low volume node.
Solid Lines = HVN , high volume node.
Green = Highlighting bullish structure nodes.
Pink = Highlighting bearish structure nodes.


Current Bias:

ES ripped from a new low back into the congested center. For me personally it's hard to argue a trade in either direction at the moment. I am impressed with the bullish momentum but also can't argue something healthy could have some selling. I am currently watching the "Local Support" on my chart to see possibly what they do with that zone on globex this evening. Keep in mind I am generally thinking of shorter term plays, but at the moment I am leaning more bearish , but no commitments to any trade plans until I have some more data.

Happy Sunday!

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