Anytime markets make 2 big moves down, you know there’s a good chance we get a squeeze higher the next day…
But we can’t force the entry – wait for this simple pattern, it could be our biggest winner of the week!
Emini and Nasdaq are bearish, but after 2 big legs down this week, it’s hard to justify selling way down here…
But let’s hope some rookies do because I’d love to use their stops for an easy squeeze running higher!
E-Mini S&P (ES):
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Emini is bearish after another big move down today, telling us that buyers will be looking for signs of exhaustion to buy tomorrow morning!
E-Mini Nasdaq (NQ):
(Click on image to enlarge)
Nasdaq is bearish and we can assume sellers will be looking for a breakout-pullback of today’s range, giving buyers the opportunity to get in on the pullback!
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Joseph James is the head-trader at SchoolOfTrade.com (SOT), a trading education website based in Los Angeles, CA. Joseph’s goal with SOT is to provide his students with the proper knowledge ...more
Joseph James is the head-trader at SchoolOfTrade.com (SOT), a trading education website based in Los Angeles, CA. Joseph’s goal with SOT is to provide his students with the proper knowledge of how the business of day trading works, the technical analysis skills to find reliable trading opportunities, and accurate trade set-ups to give them the edge they need to earn a consistent profit in any market around the world.less
