First published at 23:52 UTC on July 8th, 2019.
We’re back in the action after last week’s Holiday break, and with last week’s holiday overlapping two major news reports, we know many traders are playing “catch up” with the markets this week…
Knowing this, most of our markets are trying to hit t…
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We’re back in the action after last week’s Holiday break, and with last week’s holiday overlapping two major news reports, we know many traders are playing “catch up” with the markets this week…
Knowing this, most of our markets are trying to hit the “reset” button by re-testing last week’s highs/lows, and I have the perfect strategy to capitalize on those moves – are you ready for Tuesday?
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Crude Oil is bearish as it comes tumbling off the high of a bear flag this evening, telling me to look for sell set-ups on the way back to re-test the lows…
And speaking of the lows, the trading-range on the chart reminds me to keep my eyes open for buy set-ups coming off the lows, but as always, it’s the short-term momentum that will determine which entry pattern we use.
E-Mini S&P is bearish into a narrow trading-range this evening, telling me to look for sell set-ups up above the high of the range tomorrow morning…
And if we get lucky, we might get a strong bounce higher, giving us the opportunity to sell the high of this new Hidden Channel coming down overhead.
Nasdaq is bearish and trading sideways with a narrow trading-range, telling me to look for sell set-ups up above the range highs tomorrow morning.
Knowing this, I’d also love to sell the high of the Hidden Channel overhead, but the short-term momentum will likely be rather bullish if that occurs, so I'll be looking to sell with the “nested’ buyer-failure set-up instead.
Gold is bearish with the combination of a bear flag and Spike & Channel both telling us to look for sell set-ups using buyer-failures up around the 1402 level on Tuesday morning…
And if price keeps running lower, I need to worry about the major support level below us, and will shift my focus to selling with bull-traps instead.
Euro is bearish into a narrow trading-range this evening, which tells me..
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