Market Context and Game Plan
March 24
March 24 Market Update: Bullish Continuation or Bear Trap?
Hey Traders,
The market is showing some bullish action as we begin the week, but we’re nearing key resistance levels. Here's a quick look at the setup for today:
ES (S&P 500 Futures)
Bullish Structure: ES is reclaiming key moving averages and approaching resistance at 5780–5800.
Key Levels:
Bullish: Break above 5790–5800 could target 5825–5850.
Bearish: If ES rejects and drops below 5750, we may test 5700 and 5650.
NQ (Nasdaq Futures)
Bullish Reversal: NQ has shown strength from the recent low at 19,139 and is approaching the 200 EMA.
Key Levels:
Bullish: Break above 20,300 could push toward 20,500 and 20,800.
Bearish: If NQ fails at 20,300 and loses 20,050, expect a drop to 19,800 and 19,500.
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·Mastering Market Context: The Pro Trader’s Guide to Reading Price Action & Liquidity
Pre-Market Plan:
Bias: Bullish, but approaching resistance.
Watchlist: NVDA & TSLA leading tech, looking for pullbacks to VWAP or EMAs for entries.
Risk Zones: For NQ, key support is at 20,200 and 20,000; for ES, watch 5740–5750.
How to Play This:
Bullish: Look for pullbacks into support zones and enter on higher lows.
Bearish: Watch for fake breakouts or rejections at resistance.
Risk Disclaimer
Disclosure:
The information provided in this article is for educational purposes only and should not be considered as financial advice. Trading and investing in financial markets involve substantial risk, and it is important to conduct your own research and consult with a qualified financial professional before making any investment decisions. The author is not responsible for any financial losses or gains that may result from actions
Trading futures, stocks, and options involves significant risk and is not suitable for all investors. This content is for educational purposes only and does not constitute financial advice.