I’m seeing a lot of tiny trading-ranges on the chart tonight, which tells me to look for entries and exits using those “expansion” levels tomorrow morning.
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I’m seeing a lot of tiny trading-ranges on the chart tonight, which tells me to look for entries and exits using those “expansion” levels tomorrow morning.
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Crude Oil is looking bullish after the sellers failed to re-test this morning’s lows, which tell me to look for a short-covering rally tomorrow morning.
Knowing this, I need to get into that rally QUICKLY, or wait for a deep pullback to the low of a Hidden Channel.
E-Mini S&P is range-bound with a triangle pattern, which is tells me to fade the breakouts – buying low, selling high, and using the 2-Try Failure pattern.
Nasdaq is also range-bound with a triangle pattern, but the SIZE of the range is the big clue, which tells me the momentum of these bears is going to have me focused on a “nested” 2-Try Failure pattern buying off the lows.
Gold is bearish at first glance, but with the sellers trying twice, followed by a sharp rally higher, my gut tells me these sellers are ready to quit.
Knowing this, my plan for tomorrow is to look for buying opportunities – either at the support trend-line coming up from below, or with traps on a short-covering rally.
Euro is bullish after a strong 123-Breakout, which tells me to look for buying opportunities at the low of a Hidden Channel…
But look closely and you can also see some prior resistance levels that I can use as key support in combination with that channel low for a reliable place to look for buy set-ups on Wednesday morning.
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