Markets are coiled-up in ranges ahead of tomorrow’s FOMC Announcement, which means breakouts, and FAILED breakouts are where the money will be made…
Bears have control for now, but don’t let THIS TRAP fool you!
E-mini and Nasdaq are bearish into ranges, but look WIDER and you’ll see why this bear trap could be one of the easiest trades tomorrow!
Crude Oil is bullish into a range with buyers trying to force a breakout higher – they better act fast because sellers will be looking for a reversal!
E-Mini Nasdaq (NQ):
(Click on image to enlarge)
The Emini is bearish into a range, telling us that sellers will be looking for breakouts going lower, or buyer failures to sell above the highs.
E-Mini S&P (ES):
(Click on image to enlarge)
The Nasdaq is bearish into a spike and channel, telling us that sellers will be looking for entries at resistance above, or range breakouts below.
Crude Oil Futures (CL):
(Click on image to enlarge)
Crude Oil is bullish into a range, but we’re trading near recent highs, telling us that buyers need a strong breakout or sellers will likely go on the attack!
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.