First published at 00:30 UTC on February 8th, 2019.
The markets gave us a couple big, unexpected moves this morning – which means it should be easy to “run the stops” of all the rookies who get caught chasing the price-action tomorrow morning.
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Learn the Patterns with My Free Tradi…
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The markets gave us a couple big, unexpected moves this morning – which means it should be easy to “run the stops” of all the rookies who get caught chasing the price-action tomorrow morning.
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Learn the Patterns with My Free Trading Course:
http://www.schooloftrade.com/trial
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Crude Oil is bearish, but this recent pullback is really strong for the bulls, so I'm going to wait for the bulls to try and buy the next pullback before I try selling into their stops.
E-Mini S&P is bullish after a beautiful crown reversal off the lows, and now I'm hunting for a way to run the stops of the sellers for a short-covering rally going higher.
Nasdaq is bullish after a 123-Reversal off today’s low, so I’m looking for buy set-ups ahead of a possible rally back into yesterday’s trading-range overhead.
Gold is bullish into a range, which tells me to look for buying opportunities using seller-failures below the range low.
Euro is bearish with a range, which tells me to fade the breakouts, buying the low and selling the high using failure patterns tomorrow 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 your level of ex..
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