Flip the Momentum

I’m still seeing range-bound markets going into Wednesday morning, but with strong momentum ahead of those ranges I can see some profitable opportunities by “flipping” the momentum in the opposite direction.

Crude Oil Wants to Re-Test the Low

Crude Oil is bearish and headed back inside the weekly trading-range, which tells me to look for buying opportunities back near the range lows.

Knowing this, my concern is this bearish momentum, so my plan is to “flip” the momentum by waiting for the sellers to get caught chasing the move lower and buying into their stops.

E-Mini S&P Buyers are Waiting for the Pullback

E-Mini S&P is bullish into a trading-range, which tells me to look for buying opportunities at the low using the 2-Try seller-failure pattern.

Knowing the momentum is bullish, I can also look for the sellers to get trapped at the highs and buy into their stops again.

Nasdaq is Running into Overhead Resistance

Nasdaq is bullish with a Spike & Channel, which always tells me to wait for a DEEP pullback and buy into the sellers’ stops using the nested 2-Try Failure pattern.

Knowing this momentum is so strong, I’m also keeping a close eye on a possible 2-try breakout to new highs.

Gold is Looking for the Pendulum Swing

Gold is bullish and rallying back to yesterday’s trading-range, which means the momentum has shifted back for the buyers.

Knowing this, my plan is to look for buying opportunities below the range low, and I have my eye on the resistance trend-line (yes, resistance) to be used as support on the next deep pullback.

Euro is Oversold, But is it Time to Buy Yet?

Euro is bearish with three legs lower, which tells me to expect either a trading-range or a bullish short-covering rally on Wednesday.

Knowing this, if we see a range my plan is to fade the breakouts and sell above the highs.

If the market starts to flutter higher, my plan is to use the nested 2-Try Failure pattern to buy going back into the range from earlier today.

“Success at anything will always come down to this: focus and effort. And we control both.”