Trading The “Bounce”

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Markets are “bouncing” off their lows tonight, and with just enough momentum to keep the sellers interested, combined with obvious clues to get the buyers nibbling, something tells me we’re going to see a battle for control going into Tuesday’s session – and as always, I’ve got the perfect trading plan!

Crude Oil looks bearish at first glance, but if you know how to read price-action you know that buyers are starting to look for entries ahead of a short-covering rally tomorrow morning.

E-Mini S&P is back inside it range from last week, and my plan is to look for buying opportunities off the lows using the 2-Try seller-failure pattern.

Nasdaq is all coiled-up ahead of tomorrow’s earning’s report, which means my plan is to fade the breakouts using failure patterns.

Gold is bullish with a Spike & Channel pattern, which tells me to look for buying opportunities at the low of the channel.

Euro is bullish with a Spike & Channel, but a short-term trading-range is telling me I should wait for a DEEP pullback to find the best long set-ups tomorrow morning.

Crude Oil is Still Bearish, But the Bulls Are Knocking

Crude Oil is bearish, but the momentum shifting after the 2-Try Failure tells me the bulls are likely going to start finding ways to enter this market.

Knowing this, my plan is to look for buying opportunities at the low of this Hidden Channel to capitalize on the bounce going back to the highs.

E-Mini S&P Wants to Rally, But Careful for the Best Entry

The E-Mini S&P is quickly shifting back to the bulls having control, which tells me I want to look for long set-ups at support levels.

The trading-range is a big clue because it tells us to look for buying opportunities at the lows, so my plan is to use the 2-Try seller-failure pattern to get long.

“There’s levels to dedication, to discipline, to drive to focus to obsession.  There’s levels to it – and if you’re sitting on the sidelines saying “It must be nice”, you just don’t get it.”

Nasdaq is Choppy Ahead of Earnings

The Nasdaq is bearish, but the sellers just tried twice and failed to go lower, which tells me that we should start seeing the buyers enter below the lows.

The challenge is, tomorrow we start seeing a TON of earnings reports from companies like Apple, Amazon and more, which tells me I need to look for trading opportunities as EARLY as possible tomorrow morning.

Gold is Bullish into a Spike & Channel

Gold is bullish and re-testing today’s high, which tells me I need to wait a little longer before I start looking for buying opportunities.

The trading-range is a big clue, because it reminds me to avoid buying into the high.

The better strategy is to wait for the sellers to fail at the range low and buy the bounce going back up to re-test the range high.

Euro is Bullish with a Strong Spike Higher

The Euro is certainly bullish, but we’re a little too high to start buying at this point.

I think the best place to buy the Euro is going to be using this rising support trend-line because that will allow me to buy the low of the range as well.

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

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