Capitalize on Failures; 4 Trades to Watch on Wednesday
Markets were on the move today – Gold spiked higher, the Emini ES collapsed, and Crude Oil looks ready for another leg lower as well…
All of these markets have one thing in common – they all need the opposite side of the market to fail, and I want to make sure you’re ready for the best failure patterns tomorrow morning – are you ready?
E-Mini Sellers Looking for Another Leg…
E-Mini S&P is bearish with a strong run lower this afternoon; this tells me that sellers will be waiting to get short at the high of a new hidden channel…
Look closely and you’ll see we’re sitting at the low of the expanding triangle; I’m hoping we get a bounce off these lows so I can sell into the buyers stops with a failure pattern…
Crude Oil Sellers Look to Retest Today’s Low
Crude Oil is bearish after buyers failed to finish their range rotation earlier in the session and all signs point to a retest of today’s low…
Knowing this, my plan is to focus on buyer failures above the moving-average, assuming that rookies won’t see that failed rotation and will buy the pullback…
Gold Buyers Waiting Patiently for a Pullback
Gold is bullish with a Spike & Range pattern; the size of the move higher tells me that buyers will be waiting for an opportunity to buy the next deep pullback…
Ideally, I want the pullback to be deep enough to fool the counter-trend sellers into thinking it’s a reversal, so I can buy into their stops with a failure pattern…
