Markets made wild swings back and forth today, which is an easy clue for an experienced trader…
Smells like a range is developing overnight, which means these *Fake-out Breakouts* are likely where the easy money will be tomorrow!
Emini and Nasdaq are both bullish overall, but developing into a range in the short term…
Ranges act like magnets, so the plan is to “trade the edges” using these 2 simple entry patterns – don’t miss them!
E-Mini S&P (ES):
(Click on image to enlarge)
Emini is bullish into a trading range, telling us that buyers will be looking for bear traps to buy support below the range, along with breakout-pullbacks going higher.
E-Mini Nasdaq (NQ):
(Click on image to enlarge)
Nasdaq is range-bound ahead of major earnings tomorrow, and the bullish overall bias tells us to look for seller failures to buy off range lows, and breakout-pullbacks going higher.
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.