3 ‘Open Loop’ Trades For Wednesday

Video Length: 00:45:28

How’s that for end-of-month volatility? Wow, what a day!

We just finished up one of the wildest sessions of the year, and with all the big moves on the charts today, we have some big “open-loop” setups to look forward to tomorrow…

What’s an open-loop, you ask? All three of our favorite markets have them right now, and it’s the key to finding the best entries and exits on Wednesday. Are you ready? Let’s go…

E-Mini Keys to Success:

  • Bulls have control with 123-Reversal off today’s low, back into yesterday’s range.
  • Bulls Want to buy pullbacks to support levels below.
  • Bears Want to reverse trend and retest the lows.

Best Setups for Tomorrow: 

  • [UP] – 123-breakout to buy (or) crown reversal to sell
  • [DOWN] – seller failure to buy (or) 123-Reversal to sell
  • [SIDEWAYS] – sit on hands, wait to buy the breakout lower.

Crude Oil Keys to Success:

  • Strong move lower for the bears bounces off the lows into a trading-range, bears trying to finish the retest of today’s low.
  • Bears Want to get short before we retest today’s low.
  • Bulls Want to get long back into the range magnet overhead

Best Setups for Tomorrow:

  • [UP] – 123-breakout to buy (or) crown reversal to sell range highs)
  • [DOWN] – seller failure to buy (or) 123-breakout to sell
  • [SIDEWAYS] – sit on hands, wait to buy low, sell high with failures.

Gold Keys to Success:

  • Bullish into a trading-range. A strong move lower suggests another leg down before retesting the highs.
  • Bulls Want to buy below the range, or buy a bull breakout
  • Bears Want to reverse the trend and retest Monday’s low.

Best Setups for Tomorrow:

  • [UP] – 123-breakout to buy (or) crown reversal to sell
  • [DOWN] – seller failure to buy (or) 123-breakout to sell
  • [SIDEWAYS] – sit on hands, wait to buy low, sell high with failures

 

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