Markets are gearing-up for major news on Wednesday – with Crude Oil battling through the weekly inventory report, and the big FOMC Announcement after lunch – we know that ANYTHING is possible, so we need to be ready!
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Learn the Pat…
Markets are gearing-up for major news on Wednesday – with Crude Oil battling through the weekly inventory report, and the big FOMC Announcement after lunch – we know that ANYTHING is possible, so we need to be ready!
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Learn the Patterns with My Free Trading Course:
http://www.schooloftrade.com/trial
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Crude Oil is bearish into a trading-range ahead of tomorrow’s weekly inventory report, which tells me to look for selling-opportunities off the high of the range using buyer-failure patterns.
Knowing this, we just saw price shoot lower into the closing bell this afternoon, which means I'm looking for buying opportunities going back up into the range – but with such bearish momentum I need to wait for the “nested” failure instead.
E-Mini S&P is bullish with a strong spike higher to finish today’s trading session, which tells me to look for buying opportunities at key support levels tomorrow morning.
And with this “spike” higher, we expect to see one of three possible situations on Wednesday, so I'm getting prepared for those in tonight’s video.
Nasdaq is bullish with a spike higher as well, but unlike the E-Mini S&P, it still has plenty of room to keep running, so I'm anticipating a Spike & Channel, but I'll keep my eyes open for three different scenarios like the E-mini.
Gold is range-bound and sideways with a triangle pattern ahead of the FOMC Announcement tomorrow morning.
Knowing this, the secret to trading a triangle is to focus on the edges of the range for the entry patterns.
And don’t forget – when the triangle lines come together, expect a significant breakout attempt, which may hold, or my fail – and I'll cover those details in tonight’s video.
Euro is bullish with a Spike & Range pattern, which tells me to look for buying opportunities below the range using a seller-failure pattern.
I'm also watching to see if the buyers want to keep going higher – with the next measured-move target up ar..
