I see a lot of range-bound markets on the charts this evening, which tell me to look for failures and breakouts on Tuesday…
Speaking of breakouts, there’s one in particular that has me asking – “Should I fade it, or trade it?”
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Le…
I see a lot of range-bound markets on the charts this evening, which tell me to look for failures and breakouts on Tuesday…
Speaking of breakouts, there’s one in particular that has me asking – “Should I fade it, or trade it?”
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Crude Oil is bearish with a range, telling me to look for sell setups above the range or wait to buy a crown reversal below the range tomorrow morning…
E-Mini S&P is bullish as it rotates off the low of today’s low, but look closely and you can see we’re in a big range today, reminding me to fade the bull breakout, rather than trying to trade it…
Gold is bullish with a strong bull breakout of today’s range, telling me to anticipate another leg higher, and look for entry using a seller-failure pattern.
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Economic News:
Please remember that economic news, both scheduled and un-scheduled will increase volatility and decrease liquidity in the market in the short-term, which causes price-action to react inconsistently with the levels of support and resistance mentioned in this video. Trading during economic news reports is dangerous and highly discouraged, no matter what your level of experience.
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