ES Price action analysis for 30 Mar 2020 trading plan

29 thg 3, 2020

• 27 Mar 2020 - last hour sell off with big spread looks threatening. Yet, it still formed a higher low and within the H1 up channel. Expect a test of the bearish last hour bar during non-RTH on Monday. A break of the up channel and 2500 should send ES to test 2400-2450.
  
• Overall H1 structure - potential up thrust of 2550 level followed by a test (last hour bar on 27 Mar). Confirmation is via a break of 2500.
  
• Potential intraday setup during non-RTH - look for a test of the last hour bar followed by a reversal.
  
• Key levels - First support 2500, 2nd support 2400-2450, resistance at 2550-2600
  
• Commitment above 2600 will violate bearish scenario.