Video Length: 01:00:17
Crude Oil is bearish and trading down at the low of the weekly range this evening, and with this recent spike lower, I assume there will be lots of rookies trying to chase the market lower…
Knowing this, I’m waiting for those breakout sellers to try selling twice before I look for the entry, buying into their stops for a short-covering rally back up to the highs.
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Bulls Are Still Waiting on the E-Mini S&P
E-Mini S&P is bullish into a narrow triangle/range this evening, which tells me to look for buy set-ups using seller-failure patterns down below the range tomorrow morning.
And if price tries to push higher, I’m going to look for ways to sucker-in the breakout bulls and sell it back into the range using a crown reversal pattern.
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Can the Buyers on Nasdaq Get the Job Done (Yet)?
Nasdaq is bullish and trading sideways with a range; and the recent bullish spike higher tells me there will likely be a lot of rookies chasing this move higher, which is a perfect time to consider selling the high (with the correct entry set-up of course)…
Knowing this, I need to wait for the buyers to try twice, and use a “nested” failure set-up to sell into their stops, with a target back to the lows of the range.
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Gold Wants Back to $1500, But Where’s the Best Entry?
Gold is bullish and trying to run back to the 1500 psychological target waiting overhead, but we’re getting a little “too high to buy” at this point because we’re almost back inside the weekly range…
Knowing this, I more reliable entry will be using a “trap low” below the prior swing, or wait for a seller-failure set-up to buy below the moving-average.
(Click on image to enlarge)
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