Markets are range-bound and feel a bit “nervous” ahead of big Inflation news later this week…
Nervous markets… ranges are magnets… that’s why this “Fake-Out Breakout” is my favorite trade for tomorrow – don’t miss it!
E-mini is bullish into a range, telling us to look for breakouts going higher – but news on Wednesday tells me to be ready for this ‘fake-out breakout’ too!
Nasdaq is bearish into a range, and when you combine that with the 60-minute levels, this ‘fake-out breakout’ looks even better!
E-Mini S&P (ES):
(Click on image to enlarge)
E-mini is bullish and trying to complete a rotation off the low of today’s range.
Buyers will be looking for breakouts up to 4475, while sellers look for a reversal to retest today’s overnight low at 4411.25.
E-Mini Nasdaq (NQ):
(Click on image to enlarge)
Nasdaq is bullish overall, but bearish into a range.
Buyers will be looking for reversals off range lows, and strong breakouts higher, while sellers look for reversals back to weekly lows.
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.