Can I Short This Rally? 3 Must-Follow Trading Rules

 

The markets continued to push higher today, extending their bull rally and finishing out the best quarter since 1998!

But with so many buyers in the market – who’s left to keep buying at such high prices? This might be a perfect time to get short – but first, let’s check the charts to find the best entries – are you ready?

It’s Tempting to Short this Emini…

E-Mini S&P is bullish and pulling back off today’s new high, which looks great for a pullback, until you look left and see that we’re sitting right at major resistance; I need to look for traps on Wednesday morning…

(Click on image to enlarge)

This Wide Range on Oil is a BIG Clue…

Crude Oil is bullish and trading at the high of a wide trading-range, which reminds me that buying the highs isn’t a good plan;I need a pullback to the range low, or a breakout to new highs.

(Click on image to enlarge)

Gold’s Narrow Range Tells the Whole Story…

Gold is bullish into a narrow trading-range at 1800, a major resistance target; this reminds me to stay patient and wait for a DEEP pullback before I look to buy into sellers’ stops tomorrow morning.

(Click on image to enlarge)

 

Disclaimer: Join our Free Trading Course. Joseph James, SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.