We’re looking at range-bound markets on most of the charts this evening, which tells me to keep buying low, selling high, and avoiding the middle…
And when it comes to trading these “balanced” markets, it’s all about waiting for the attempted break…
We’re looking at range-bound markets on most of the charts this evening, which tells me to keep buying low, selling high, and avoiding the middle…
And when it comes to trading these “balanced” markets, it’s all about waiting for the attempted breakouts, and trading into their failures – are you ready?
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Crude Oil is bearish with a strong run lower to finish today’s session, and any time I see a strong move like this, I know the short-term momentum will most likely give me the opportunity to sell another leg down.
Knowing this, I'm looking for a sell set-up up near the high of a Hidden Channel, with a target using the measured-move waiting below…
But I'm also keeping an eye on a bullish reversal-line, because it doesn’t take much experience to “look left” and see the overall bull trend – but I need to wait for this momentum to shift with a 123-Reversal before I can go hunting back to the upside on Tuesday morning.
E-Mini S&P is bullish and trading sideways inside a narrow trading-range this evening – and the word “narrow” is the big clue we want to use tomorrow morning…
Narrow ranges don’t give us much to work with, so my plan is to wait for a large breakout attempt, and use the 2-Try Failure pattern to trade back inside that original range.
Nasdaq is bullish and trying to complete the run up to 8,000, but if you look closely at the chart, it’s easy to see that we spent most of the day inside a range…
And that range tells me I cannot buy this new high because it’s a breakout – the more reliable strategy is to wait and buy below the range using a seller-failure set-up instead.
Gold is bullish into a balanced range this evening, which tells me to avoid the middle, buy the low, and sell the high using failure patterns tomorrow morning.
Knowing this, I'm on the hunt for reliable support and resistance levels above and..
