Buy The Pullback Or Sell The Reversal?

Crude Oil Bulls Failed to Hold the Highs

Crude Oil is bearish with a 123-Breakout, which tells me to look for sell set-ups at the high of a new Hidden Channel coming down overhead.

But what about that trading-range from the beginning of the day? If the buyers can take back control, then I start looking for pullbacks and a re-test of the high.

E-Mini S&P is Back in the Hands of the Sellers

E-Mini S&P is bearish after a 123-Reversal into a small trading-range on the chart, which tells me to look for sell set-ups above the high of the range using the ‘2-Try Rule’.

And if price keeps bleeding lower, the target is last week’s range, and I’ll be looking for sell set-ups off the high of a pending Spike & Channel.

Nasdaq is Giving us a BIG Clue (Do You See It?)

Nasdaq is bearish after the bulls failed to hold the last pullback, which tells me to look for buyer-failures as sell set-ups up at the high of a new Hidden Channel.

And if the buyers can take back control, then I wait for a bear-trap set-up so I’m not chasing the market higher.

Gold Collapsed Back to the Lows, Did We Miss the Bus?

Gold is bearish into a range-bound market, telling me to look for sell set-ups using buyer-failure up above the high of the range.

Not to mention, we also have a “grind break” waiting just above the range, tipping us off that sellers are most likely waiting up there for a prime spot to get short.

Euro is Bullish, But Don’t Tell the Bears!

Euro is bullish with a strong pullback to the low of a bullish Spike & Channel pattern, which is telling me to let the sellers try a few times before I start buying this market for a re-test of the highs again.

And don’t forget that triangle/range from last week, because if we do see this market tumble off the highs, we’ll be back in that range, focused on buying off the lows again.

 

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