This Breakout Pullback Could Make Your Entire Week

By Joseph James of Sideways Markets

Head-Trader at SchoolOfTrade.com • Oct 20, 2023 at 2:00 AM EDT

Markets are bearish after sellers finished the day with a strong breakout lower. Ranges act like magnets, and this *Breakout-Pullback* is one of my favorite trades of the week!

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Image Source: Unsplash

Woah, what a day… Let’s do it again!

Markets are bearish after sellers finished the day with a strong breakout lower…

Ranges act like magnets, and this *Breakout-Pullback* is one of my favorite trades of the week!

Emini and Nasdaq spent most of the day in a range, but finished with a strong breakout lower…

Range breakouts are BIG CLUES because they give us 3 ways to trade the Breakout-pullback!

E-Mini S&P (ES):

(Click on image to enlarge)

Emini is bearish with a strong range breakout, telling us that sellers will be looking for a breakout-pullback to get short tomorrow.

We’re also at big support on the 60minute, so we can assume buyers will be looking for Crown reversals on the pullback, along with double-bottom reversals!

E-Mini Nasdaq (NQ):

(Click on image to enlarge)

Nasdaq is bearish and trying to breakout of today’s range. We assume buyers will be looking for reversals back up into the range, while sellers look for a breakout-pullback and another leg lower.

Video Length: 00:28:28

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