They finally got the Trade Deal signed this morning, and now the markets are responding, many with strong short-covering rallies back up to re-test their highs…
But the big question on my mind is – where’s the best entry set-up to capitalize on this move? You don’t have to look very hard, they’re easy to find, let’s get started…
Short-Covering Rally on Crude Oil…
Crude Oil is bullish and trying to re-test the weekly highs with a short-covering rally, but I’m still seeing opportunity for the sellers to hold them off, so instead of buying as we go higher, I’m going to wait for the sellers to get caught chasing it lower and buy into their stops with a failure set-up.
E-Mini S&P Back Into It’s Range…
E-Mini S&P is rallying higher after the sellers successfully defended the lows this afternoon, which means I’m looking for my shot to buy the next pullback, and I have my eyes on a key support level just below the 3290 area.
Watch the Trend-Line on Nasdaq…
Nasdaq is bullish with buyers targeting the 9100 round number back at all-time-highs, so I’m looking for a chance to buy a pullback, and I have my eyes on a key trend-line that almost everyone should easily see.
Gold is Three Legs Up – Now What?
Gold is bullish and trading at the high of a channel, which tells me to look for buy setups at the lows, but look closely and you can see we’re now 3-legs higher, telling me to anticipate a range, and seller-failure patterns to buy below it.
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Disclaimer: Join our Free Trading Course. Joseph James, SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or trading advisers. The services and content provided by SchoolOfTrade.com and United Business Servicing, Inc. are for educational purposes only, and should not be considered investment advice in any way. U.S. Government Required Disclaimer - Commodity Futures Trading Commission. Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. CFTC RULE 4.41 – These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or-over-compensated for the impact, if any, of certain market factors, such as liquidity. Simulated or hypothetical trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.