“If you don’t set a baseline standard for what you’ll accept in life, you’ll find it’s easy to slip into behaviors and attitudes or a quality of life that’s far below what you deserve.”
Crude Oil is bearish, but the sellers just got their ‘Double-Down’ news target, which tells us to stay patient, avoid selling low, and look for either a trap-high, or a breakout-pullback to new lows.
S&P is bearish with a spike & channel this evening, which tells us to look for a retracement off the low, looking for traps and failures to complete a quadruple-down target tomorrow.
Gold is bullish after a strong reaction to the FOMC Report this afternoon, but price is far too high to buy now, so we’re waiting to see how the next pullback looks, with the goal of using a trap or failure to re-test the highs.
Euro is bullish after today’s FOMC Report, but the buyers need to show us they can hold this pullback, because if they don’t, the sellers are waiting to ‘fade’ this move back to the lows.
FDAX is bearish, but we are ‘two legs down’ off the highs, which tells us to be patient for a correction so we can ‘sell high’ again tomorrow.
Crude Oil is bearish and trading at the Inventory ‘Double-Down’ target after sellers were given a perfect opportunity to sell the recent retracement. The bears have control, but this recent test of the lows tells us that most sellers will take their profit and look for selling-opportunities at higher prices, or wait for the next leg down and look to ‘sell high’ using traps on the way down to the measured-move target waiting below.
E-Mini S&P is bearish with spike & channel at the triple-down support level this evening. This spike lower is a big clue, telling us that price will likely be considered ‘too cheap’ to sell at this point, and the most reliable selling-opportunities will come after a retracement off the lows using traps and failures for a move back down again.
Gold is bullish after the FOMC Report and trying to complete a triple-up target tomorrow, but this recent move higher will likely keep most of the bulls on the sidelines until they can buy at a cheaper price. Whenever we have a market change directions this dramatically in such a short period of time, we always know the most reliable buying opportunities will come from traps, with a short-term target back to the high, and long-term target up to the triple-up.
Euro is bullish and trying to complete a ‘Double-Up’ target after this afternoon’s FOMC report, but whenever we see a trend reversal like this, we know that wise buyers will be patiently waiting for a trap, which is exactly what we’re waiting for tomorrow. On the flip side, if the buyers fail, this price should quickly collapse, and sellers will be looking for a trap of their own, going back down to re-test the low.
FDAX is bearish, but after ‘two legs down’, we need to consider this market to be priced very low, which isn’t the most reliable place to be looking for selling-opportunities. Sellers want to ‘sell high’, which means they need to see a retracement off these lows, and use traps and failures to sell back down to the lows again tomorrow.
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