First published at 23:49 UTC on August 3rd, 2020.
We’re back to our desks for a new week, new month and lots of trading opportunities on our radar for Tuesday’s trading session…
All of our favorite markets have Spike & Ranges on the chart tonight, which means I'm looking for buy setups be…
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We’re back to our desks for a new week, new month and lots of trading opportunities on our radar for Tuesday’s trading session…
All of our favorite markets have Spike & Ranges on the chart tonight, which means I'm looking for buy setups below the range with the goal of trading the momentum swing from failure into a breakout – here’s the game plan…
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E-Mini S&P is bullish into a Spike & Range pattern, which tells me to look for seller failure patterns below the range at key support levels, such as the base of a Spike and channel.
Crude Oil is also bullish into a Spike & Range pattern, which tells me to look for buy setups below the range, but momentum is much stronger for the bears, which reminds me to wait for a “nested” failure pattern instead.
Gold is bullish into a multi-day trading-range which tells me to keep looking for buy setups below the range, but with a pendulum swing coming down off the highs, I'm looking for a momentum swing off the lows from seller failure into bull breakout on Tuesday morning…
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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 you..
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