Markets continued to push lower today, and with such strong runs lower, the key for tomorrow is using ranges and hidden-channels for entries and exits…
We’ve also seen increased volatility this week, which is typical for the end of the month, which…
Markets continued to push lower today, and with such strong runs lower, the key for tomorrow is using ranges and hidden-channels for entries and exits…
We’ve also seen increased volatility this week, which is typical for the end of the month, which means I need to make three small adjustments to charts, trade management, and risk-management ahead of tomorrow’s session – are you ready?
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Crude Oil is bearish with three strong legs down today, which tells me to expect a trading-range, and my goal will be to sell the high of the range using a buyer-failure set-up.
E-Mini S&P is bearish and trading sideways with and expanding triangle, which tells me to wait for sell setups at the high of the triangle once the buyers try and fail on the reversal.
Keep in mind, volatility levels are higher than normal on the Emini ES this week, so be sure to slow down the charts, widen the stops, and cut the position size in half!
Nasdaq is bearish and sitting on multiple support levels, so I'm going to wait for a pullback to sell up around the high of a hidden-channel coming down overhead.
Gold is bearish and trying to breakout below today’s range, so I'm watching for a sell setup using a buyer-failure off the high of the channel, or a crown-reversal set-up to buy it back into the range again.
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Economic News:
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