First published at 22:46 UTC on March 26th, 2019.
I’m seeing a handful of potential traps to avoid on Wednesday morning, and with the markets trying to throw us some curve balls, I know the moving-average is going to be the secret to our success.
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I’m seeing a handful of potential traps to avoid on Wednesday morning, and with the markets trying to throw us some curve balls, I know the moving-average is going to be the secret to our success.
--------------------
Learn the Patterns with My Free Trading Course:
http://www.schooloftrade.com/trial
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Crude Oil is bullish into a trading-range around the $60 level, which tells me to stay patient for a deep pullback so I can buy into the stops of the counter-trend sellers.
But I also need to be prepared for another bullish rally, and if the buyers keep pushing, I'm watching for the '2-Try Rule' to trade the breakout on the way up to $61.
E-Mini S&P is bearish at first glance, but with three BIG CLUES on the chart, I'm looking for buying opportunities using seller-failures for a short-covering rally going back to re-test today’s high.
Knowing this, its also important to keep an eye on location before trying to get long, because that objective is just a few points overhead and I don’t want to get caught chasing it higher.
Nasdaq is bearish into a small trading-range, which tells me to look for selling-opportunities at the range-expansions levels waiting overhead.
On the flip side, I'm also keeping a close eye on how the sellers react to the moving-average during the pullback, because enough separation will signal this trend turning bullish.
Gold is bearish into a trading-range ahead of what should be a very busy news day on Wednesday, which tells me to stay patient until I see the best set-ups.
Knowing this, the bears clearly have control, which tells me to look for selling-opportunities using the '2-Try Rule' up above the range tomorrow morning.
Euro is bearish with a strong two-legged move lower, which tells me to look for selling-opportunities up at the high of a Hidden Channel.
At the same time, however, I can also see two BIG CLUES on this chart that tell me this market is ripe for a bullish reversal, and my sec..
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