Are these markets bouncing because they’re ready to reverse directions?
Or, is this just profit-taking ahead of another round of selling tomorrow morning?
The answer is easier than you think – and it tells us exactly which patterns will work best…
Are these markets bouncing because they’re ready to reverse directions?
Or, is this just profit-taking ahead of another round of selling tomorrow morning?
The answer is easier than you think – and it tells us exactly which patterns will work best for Wednesday’s trading session – let’s go!
--------------------
Learn the Patterns with My Free Trading Course:
http://www.schooloftrade.com/trial
-----------------------------------------
Crude Oil is bearish and finished the session inside a range, which tells me to focus on failures – buying the lows, selling the highs, and avoiding the middle.
But the REAL key on Crude Oil is all about TIME – making sure we grab those set-ups before tomorrow’s big news report.
E-Mini S&P is bearish in trend, but bullish in short-term momentum, which tells me which patterns will work best tomorrow morning.
Knowing this, I’m ready for both buying and selling-opportunities – all we need is the entry set-up.
Nasdaq is bearish in the long-term, but the short-term momentum is clearly bullish coming off today’s low.
And that momentum is a critical piece of information, because it tells us precisely which patterns will work best (and worst) on Wednesday morning.
Gold is bullish and trading up at the highs of a range, which is a horrible place to look for buy set-ups.
Instead, I’d rather wait for more confirmation using the 123-Breakout before I try buying the next pullback.
Not to mention, the top of the range is an excellent place to sell, but I need to use the short-term momentum in the correct way, with the “nested” failure set-up.
Euro is bullish, and I’d love to buy below the range lows, but the only entry pattern I'm seeing puts me in the middle of the range, which isn’t a very reliable place to buy.
Knowing this, I'm going to stay patient and wait for more reliable buying opportunities down below the trading-range, using the 2-Try Failure set-up to buy into the stops of the counter-trend sellers.
--------------------
Re..
