“Opportunity is missed by most people because it is dressed in overalls and looks like hard work.”
Crude Oil is bullish, but a spike & range is telling us to avoid buying the highs, and look for a fake-out breakout pullback, or a trap-low tomorrow.
S&P is bullish with numerous technical clues this evening, but the most important clue happened a few hours ago, telling us to be looking for a deep pullback or a breakout-pullback tomorrow.
Gold is bearish with a spike & range coming off today’s high, and the range is telling us to look for a ‘trap high’ or a breakout-pullback to continue lower tomorrow.
Euro is bearish, but they just took control, which means we’re looking for a ‘trap-high’ tomorrow to avoid chasing this move lower.
FDAX is bullish with a wedge this evening, and when you combine that with a recent strong move to finish the session, we are looking for a short-term correction before buying more tomorrow.
We’re back with another exciting week of trading opportunities on this newsletter, and we have the end of the month just a few days away, which tells us to be watching those prior month levels, and we have a TON of news coming out around the globe, so we have a busy week ahead of us!
Crude Oil is bullish and trying to re-test last Friday’s high, but this spike & range tells us that buying the highs isn’t a reliable way to trade this situation, and we’re better off waiting for a trap or failure at the low of the range, or a fake-out breakout pullback at these highs tomorrow.
E-Mini S&P is bullish and trading at the Double-Up target this evening, as it tries to fill the weekend gap and make a run to the triple-up, which is also a wedge target tomorrow. The bulls have control, but with that recent ‘trap-low’ we know that buyers will see this as a relatively expensive location to buy, which tells us to look for a breakout-pullback to new highs, or a pullback to rising support, or into the ‘battle zone’ tomorrow.
Gold is bearish and trading at the low of a short-term spike & range this evening, which tells us to beware selling the low, and look instead for a ‘trap high’ above the range, or a successful breakout-pullback below the range low. The buyers started the day with a ton of strength, but they got their Double-Up target and then apparently walked away before testing the prior month high. The sellers got a new lower-low, held a pullback on strength, and now have control, but they won’t be interested in selling low, so we’re waiting for our opportunity to sell high tomorrow.
Euro is bearish and trying to re-test the previous month high, and possibly fill the weekend gap. The bulls started the session with strength, reaching their measured-move target easily, but then the bulls got a perfect opportunity to buy low and send it back to the highs and they failed. Once the bulls failed, the sellers made a new lower-low on strength, and took control of this market. Now sitting at a short-term measured-move, the bears don’t want to sell this low, and will be looking for selling-opportunities up at the high of the channel, with a target down to the prior month high.
FDAX is bullish and trading into the completion of a wedge this evening, as it tries to re-test the previous month high and fill the weekend GAP. The end of the wedge will act as resistance, and when you combine that with the strong move to finish today’s session, we can assume that traders will avoid ‘buying high’ and will look for a correction for a better buying opportunity tomorrow.
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