Best Indicator for Range-Bound Markets
Emini, Nasdaq and Gold are all range-bound, while Crude Oil just keeps running higher, which tells me to be prepared for range-bound markets going into Friday’s session…
And whenever I see of sideways, balanced markets like these, I need to focus on using the most reliable indicator for range-bound markets – are you ready?
Oil Can’t Keep This Going Much Longer – Can It??
Crude Oil is bullish and hasn’t stopped running higher for two straight days, which tells me we’re either going to get a deep pullback off the highs, or a sideways, range-bound market on Friday morning…
But no matter which scenario we get, the key is waiting for a pullback off these highs, because buyers are waiting to buy the dip on Friday morning…
E-Mini S&P is Making Us Wait on Friday Morning…
E-Mini S&P is sideways and range-bound this evening, which tells me to focus on buying low, selling high, and avoiding the middle on Friday morning…
And my favorite entry pattern for range-bound markets is always a failure pattern, buying into the stops of the bears, and selling the buyer-failures with the target back to the opposite side of the range.
I Love That Expanding Triangle on the Nasdaq…
Nasdaq is range-bound and sideways this evening, which tells me to buy the low, sell the high, and avoid the middle on Friday morning…
And to accomplish that, I have my eyes on support & resistance levels using an expanding triangle pattern on the chart.
Gold Bears are Strong, But Look Where We Are!
Gold is slightly bearish as price grinds lower, but look closely and you can see we’re sitting below the weekly range, which means this market could rip higher at any moment…
Knowing this, I’m going to respect the bearish momentum and focus on a crown reversal pattern to get long off these lows on Friday morning.
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