S&P 500 – How to trade the descending or falling wedge with high winning rate [Video] – FXStreet

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Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 28 Sep 2020 trading session. In this video, I am going to show you the market recap during the last session and trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind). In the market recap, I will explain why this falling wedge could possibly mark the temporary bottom of S&P 500 and how to trade the descending or falling wedge pattern with high winning rate. Going forward, I will cover the bias, the key levels to pay attention to, my trading plan for the session later.

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Check out my daily market analysis video in the last session if you haven’t in order to better relate to the market recap and the trade review.

Bias — neutral (Day trading); bullish (long term).

Key levels — Resistance: 3320, 3360, 3420–3450; Support: 3200–3230, 3280–3300.

Potential setup — Look for potential reversal at the key levels.

This post was originally published on *this site*