This *PULLBACK INTO REVERSAL* Could be EASY Money Before the Fed!!
Back to work – you ready for Tomorrow?
Everyone’s looking for a couple good trades before FOMC on Wednesday, and this *Pullback into Reversal* combination could be the easiest trade of the week!
Emini and Nasdaq are bullish with a strong spike higher – hopefully sellers get short into this move, because their stops will make the perfect fuel for another leg higher!
Crude Oil is bullish with trying to complete a ‘pendulum-swing’ off last Friday’s range, and this “pop and grind” channel gives us the perfect entry!
E-Mini Nasdaq (NQ):
The Nasdaq is bullish with a strong breakout higher this afternoon, suggesting that buyers will be looking for another leg higher before sellers try shorting back to the lows again.
Keys to Success:
- Strong Move higher, Range Breakout, Bear Bias Long term
- Bulls want a pullback and a retest of the high
- Bears want a double-top reversal, or pop and grind move lower
E-Mini S&P (ES):
The Emini is bullish with a strong range breakout this afternoon, telling us to expect buyers to buy the next pullback for a retest of the high.
Once we get the retest, we assume sellers will be looking for shorts back into the range below.
Keys to Success:
- Strong Move higher, Range Breakout, Bear Bias Long term
- Bulls want a pullback and a retest of the high
- Bears want a double-top reversal, or pop and grind move lower
Crude Oil Futures (CL):
Crude Oil is bullish with a “pop and grind” run higher, telling us that buyers will be looking for entries off the low of the channel tomorrow morning.
Keys to Success:
- Strong Move Higher, Pop and Grind, Range
- Buyers want a deep pullback to buy channel lows and a retest of the high
- Sellers need a strong reversal lower, beware a double-top reversal
