This *BEAR TRAP PULLBACK* Could Be EASY MONEY Ahead of Election!
Weekend’s over – back to work!
Markets are bullish going into Mid-term elections tomorrow, and when you combine today’s ranges, with strong moves into the close, it’s easy to see why *BEAR TRAPS* are my favorite trades for Tuesday!
Emini and Nasdaq are bullish with strong breakouts higher – I’m looking for a breakout-pullback off today’s range, but my favorite trade is this “bear trap pullback” below the range!
Crude Oil is bullish overall, but this recent drop lower tells us this “Crown Reversal” is where the easiest money might be tomorrow!
E-Mini Nasdaq (NQ):
The Emini is bullish with a strong range breakout, telling us that buyers will be looking for pullback entries and a retest of the high.
Keys to Success:
- Bullish range, Strong move higher, support trend-line
- Bulls want to buy pullbacks for a measured-move target going higher
- Sellers want a reversal off these highs
E-Mini S&P (ES):
The Nasdaq is bullish with a strong move higher this afternoon, suggesting that buyers will be looking for pullbacks off support levels, such as the channel or trend-line coming up below.
Keys to Success:
- Bullish range breakout, strong move, support trend-line
- Bulls want to buy pullbacks off channels, or seller failures below the range
- Bears want a reversal off the high
Crude Oil Futures (CL):
Crude Oil is bullish with a range overall, but this “rotation off the high” gives sellers the momentum they need to run price back to today’s low.
Buyers are looking for seller failures to get long, while sellers need to hold the next pullback to prove they really have control.
Keys to Success:
- Strong Moves in both directions, Range rotation off the high
- Bulls want buyer failures to buy back up into the range.
- Bears want to hold this pullback and get a breakout lower.
