We’re back in the action for another big week of trade set-ups, this time we have a week filled with earnings reports, trading-ranges, and strong moves on the charts…
But no matter what we get on Tuesday, my plan is always the same – wait patiently…
We’re back in the action for another big week of trade set-ups, this time we have a week filled with earnings reports, trading-ranges, and strong moves on the charts…
But no matter what we get on Tuesday, my plan is always the same – wait patiently for the most reliable, high-probability set-ups on my favorite markets – are you ready?
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Crude Oil is bullish and back inside the range from last week, which tells me to focus on breakout failures - buying low, selling high, and avoiding the middle on Tuesday morning…
And speaking of buying low, I’d love to catch the sellers on the wrong side of this market with a failure set-up off the low of a new Hidden Channel.
E-Mini S&P is bullish with a wedge pattern as it runs into major resistance overhead, which tells me the bulls have control, but we’re a little too high to start buying at this point…
Knowing this, I’d rather wait to buy a pullback at support, and I have my eyes on the combination of the Hidden Channel low and a reversal-line down at 2994.50 tomorrow morning.
Nasdaq is bullish and grinding its way up to a triple measured-move, but anytime I see a market “three legs up” I try to wait for a more reliable pullback to support, rather than just chase the market higher…
I have my eyes on the low of a hidden Spike & Channel pattern, and since the pullback will be quite large, I'm anticipating a “nested” variation of the failure set-up.
Gold is bearish and trying to breakout below last Friday’s trading-range, but they haven’t succeeded just yet, which means I'm still looking for ways to buy this market going back up into the range.
But to do that, I need to wait for the bears to try twice before looking for entry, buying into their stops with a target back to the range high ag..
