Focus on Failures for Wednesday (3 Best Setups)

By Joseph James of Sideways Markets

Head-Trader at SchoolOfTrade.com • Nov 17, 2020 at 11:14 PM EST

E-Mini S&P is bullish and trying to complete a full rotation back to retest Monday’s high, but we’re stuck inside the middle of the range.

(Video length 00:46:19)

We’re seeing a lot of range-bound markets on the charts tonight, which means the plan is rather simple; buy low at support, sell high at resistance, and focus on failure patterns going back to the original trading-range…

Momentum is the biggest variable; when strong breakouts occur, don’t force the entry, wait for a “nested” failure pattern to absorb the move.

Can E-mini Buyers Get Another Full Rotation?

E-Mini S&P is bullish and trying to complete a full rotation back to retest Monday’s high, but we’re stuck inside the middle of the range. Knowing this, I’ll be looking for seller failure patterns at key support levels below the range…

Will We Finally Get a Breakout on Crude Oil?

Crude Oil is bullish and trading in the middle of a large triangle range. I don’t want to trade the middle, so I’m going to wait for a breakout and focus on failures with my target back to the middle of the range…

Gold Buyers Looking for Ways to Run the Bears’ Stops…

Gold is bullish with a Spike & Range pattern, which tells us to look for buy setups using seller failure patterns at key support levels below the range. Knowing this, I’d love to see sellers fail off a support trend-line just below the range…

Disclaimer:

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