Markets seem to be treading water this week ahead of another possible stimulus deal in the US, which means we have range-bound markets to trade on Wednesday…
Knowing this, I’ll be looking to short the pops above today’s ranges with buyer failure patterns and bull traps. Are you ready for tomorrow, here’s my plan…
E-Mini Sellers Taking Care of Unfinished Business…
E-Mini S&P is bearish and only a few points away from re-testing Monday’s low, which isn’t a great place to start selling. Knowing this, I’ll be looking to short the pops up around key resistance levels above the range tomorrow morning…
Crude Oil Bears Would Love to Short the Next Pop…
Crude Oil is bearish and headed back into the weekly range, which tells me to keep looking for sell setups above the range around key resistance levels, such as the high of a new hidden channel…
Gold Sellers Keep Using the Range as a Magnet…
Gold is bearish and trading at the high of the weekly range, a great place to get short. All we need is a couple more candlesticks and I can draw my new hidden channel to get short tomorrow morning…
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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.
