In today’s update, I show how volume identified a $1900 setup in the S&P500 e-mini futures contract ES. Using multiple-timeframe charts, volume clearly shows buying pressure and I give all the details in today’s video.
From the charts
The 60min ES chart was the first to show clear price direction. I show the price extension bar on opposing volume as the key change in sentiment. Then the 6min chart was the clincher… an extension bar with opposing volume, which would have signaled selling volume… but Hawkeye showed buying pressure. This is unique to Hawkeye Volume – no other software will show you the inside nature of volume and price action intent.
From the 3min chart, we saw our entry signal, following our 3-Step Entry/Exit Method. Using a 3:1 Reward:Risk ratio, you can clearly see 37.5 ES points, or about $1900/contract traded on the setup.
The Hawkeye Perspective
I show how volume identified a $1900 setup in the S&P500 e-mini futures contract ES. Volume is truly a leading indicator. Hawkeye volume is unique in that it shows the underlying intent of price. Even when the close is less than the open, and “dumb” volume would have shown selling pressure, Hawkeye Volume and volume price analysis showed there was buying pressure and a key reversal in play. Learn to trade the Hawkeye way.