Waiting for the ‘Snap Back’ – Favorite Setups for Wed.
We’re back to our desks after the Holiday Weekend, and with the week starting with such strong moves higher, I would expect to see a “snap back” to allow traders into this market at a better price…
Knowing this, I’ve marked up the most important support/resistance levels for tomorrow and I’m excited to share my favorite setups – let’s jump in…
Can Oil Finish Rotation Back to the Highs?
Crude Oil is bullish into a range, which means I’m looking to buy below the range using seller failure patterns, or buying the first pullback after a successful 123-breakout to new highs…
E-Mini S&P Looks Ripe for a “Snap Back”…
E-Mini S&P is bullish and range-bound, which tells me to look for ways to get long below this range, but look closely and you can see this pullback is too strong, so I’m going to wait for a “nested failure” to avoid the snap back to Monday’s low.
Gold Bears are Strong, But I Cant Chase It…
Gold is bearish and almost three legs down today, which usually means a trading-range is coming soon, and I’d like to get short above the highs in combination with a resistance trend-line coming down overhead.
