Trading With Confluence Levels

(Video length 00:56:46)

We’re back in the action once again after a Holiday Weekend, and this time we’re watching key levels of confluence for the most reliable trades on Wednesday morning…

Crude Oil appears bearish at first glance, but the recent 123-Reversal tells me to look for the beginning of a short-covering rally using a key support trend-line.

E-Mini S&P is bearish into a range, and I have my eyes on sell set-ups using key confluence levels above the range on Wednesday morning.

Nasdaq is bearish with a flag pattern, which is always a bit tricky, so we’re mapping out the plan for BOTH sides tomorrow morning.

Gold is bullish and trading to go back into last week’s range, but it’s TODAY’s range that gives me the biggest clues for Wednesday.

Euro is bearish and we’re going to keep looking to sell into the bull breakouts tomorrow morning.

Crude Oil Looks Bearish, But Look Closer…

Crude Oil is bullish after a 123-Reversal, which tells me to look for long set-ups using key support levels below the range.

Knowing this, I want to use the support trend-line coming up from the higher-lows to catch the sellers on the wrong side of this market.

But I’m also keeping my eyes open for a short-covering rally, which will be very aggressive, and the best set-up will be a bear-trap at the low of a new channel.

E-Mini S&P is Going into a Range…

The E-Mini S&P is bearish with a channel, and my plan is to look for short set-ups above the high of this channel.

The trading-range is another important clue because it tells me to use the range-expansion levels as key resistance overhead.

Speaking of key levels, we have a confluence level using the reversal-line in combination with the range-expansion line which will be excellent to find some short-side trades tomorrow morning.

“The universe rewards calculated risk and passion.”

Nasdaq is Bearish with a Flag…

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