BREAKOUT!! This *PANIC* Breakout Could Be HUGE!!
You ready for Thursday – let’s go!!
Markets are bearish and look nervous sitting on today’s lows – watch for this *panic* breakout to be one of the easiest trades of the week!!
Emini and Nasdaq are bearish and sitting at weekly lows – I’m open to a crown reversal off the lows, but this PANIC breakout looks like an easier winner!
Crude Oil is bearish with a range above us – I’ll be watching for a breakout lower, but it’s easy to see this ‘fake-out breakout’ could be a better trade!
E-Mini Nasdaq (NQ):
The Nasdaq is bearish and trading near the low of two ranges, suggesting that sellers need a strong breakout, or price will likely snap back to the opposite side of the range.
Keys to Success:
- Bear Bias, Two Ranges
- Sellers want a breakout lower, or short off range highs
- Buyers want a reversal off the low, or a rotation back to the high.
E-Mini S&P (ES):
The Emini is bearish and sitting on yesterday’s low with two ranges above it. This suggests that sellers need a strong breakout lower, or price will likely reverse back up to range highs.
Keys to Success:
- Bearish Bias, Multiple Ranges
- Sellers need a breakout lower, or sell above range highs
- Buyers want a reversal off the lows, or a rotation back to range highs
Crude Oil Futures (CL):
Crude Oil is bearish with sellers trying to retest today’s low – but there’s a range in the middle of today’s chart, acting like a magnet.
Sellers need a breakout on strength, or price will likely reverse and rotate higher.
Keys to Success:
- Bear bias, Strong Move down, trading-range
- Sellers want a breakout lower, or short off the highs
- Buyers want a reversal off the low, or a rotation back to the high
