Our favorite markets finished today’s session up at their highs, but more importantly, they finished on strength, which suggests that buyers are looking for another leg higher on Thursday…
The problem is – I don’t want to buy the highs, I need to w…
Our favorite markets finished today’s session up at their highs, but more importantly, they finished on strength, which suggests that buyers are looking for another leg higher on Thursday…
The problem is – I don’t want to buy the highs, I need to wait for a pullback, and I have my eyes on the lows of three hidden channels – do you see them? Let’s get started…
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E-Mini S&P is bullish and trading at weekly highs; I don’t want to buy the high, so I'm waiting for a deep pullback to get long off the low of a hidden channel using a seller failure pattern.
Crude Oil is bullish into a spike and channel pattern; the strength of this recent run tells me to expect another leg higher, and I have my eyes on the “base” of the spike and channel for the best entries on Thursday.
Gold is bullish and trying to complete a triple measured-move; the bulls have shown us remarkable strength at today’s high, but rather than trying to trade the breakout, I'd rather wait and buy the pullback to a new hidden channel.
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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 e..
