NVIDIA (NVDA) earnings are out, and markets just retested today’s lows…
But we haven’t completed the Breakout-Pullback from yesterday, so this Double-bottom Reversal might be a HUGE winner!
Emini and Nasdaq are bullish overall, setting-up for the breakout-pullback we discussed in last night’s newsletter…
So if the price wants to grind lower, that’s awesome – I’ll use this Double-bottom reversal to grab an easy winner before the Holiday!
E-Mini S&P (ES):
(Click on image to enlarge)
Emini is bullish, and this recent double-bottom tells us to look for Bear Traps on the way back to retest yesterday’s high!
E-Mini Nasdaq (NQ):
(Click on image to enlarge)
Nasdaq is range-bound after today’s NVIDIA earnings, telling us that buyers will be looking for bear traps to buy at support levels below the range, while sellers look for bull traps to short above it!
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.
