Markets are starting to show signs of exhaustion this evening, and after such a big run to start the week, it wouldn’t surprise me to see some profit-taking at these highs…
Sometimes, however, profit-taking turns into a trend reversal, which is why…
Markets are starting to show signs of exhaustion this evening, and after such a big run to start the week, it wouldn’t surprise me to see some profit-taking at these highs…
Sometimes, however, profit-taking turns into a trend reversal, which is why I’m watching closely for my favorite reversal patterns tomorrow morning.
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Crude Oil is bullish into a range this evening, which means I'm looking for buying opportunities below the range lows using the classic seller-failure pattern.
E-Mini S&P is bullish into a triangle, which tells me to look for buying opportunities below the triangle, but with a big resistance trend-line coming down overhead, it’s wise to keep an eye on a reversal early tomorrow morning.
Nasdaq is bearish after the buyers tried (and failed) twice to re-test the pre-market highs – now with the sellers in control, I'm watching for key resistance levels to use with sell set-ups on Thursday.
Gold is bearish, but look closely and it’s easy to see we’re trading down at the low of this trading-range, which tells me to avoid chasing the move lower and wait patiently for buying opportunities using the crown reversal pattern.
Euro is bearish with a strong 123-Reversal, but we’re trading right on top of major support, so I'm waiting patiently for price to bounce so I can sell into the buyer-failure for another leg lower.
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