Watch this Key Trend Line on Wednesday!
Are you ready for Wednesday?
I hope so, because we have a lot of opportunity to look forward to – for example…
Both the Emini and Nasdaq made strong runs higher to finish the day, so just like yesterday, there are (3) patterns you need to be ready for…
Crude Oil is a little tricky at first, but once you see my plan for using this “hidden” trend-line, you’ll see why I’m so excited in tonight’s video…
E-Mini S&P (ES):
E-Mini Keys to Success:
Bulls have control on the Emini ES after they finally got a breakout through today’s nasty trading-range.
With bulls in control, and such a strong run higher – you know buyers will be eager to buy the next deep pullback off these fresh highs.
We may also see a range develop up here – if so, keep an eye out for buying opportunities at support levels down below the trading-range…
Sellers have options too – they can sell a crown reversal off these highs, or they can sell a 123-Reversal pattern going lower (back to the original range).
E-Mini Nasdaq (NQ):
Nasdaq Keys to Success:
Nasdaq is similar to the Emini ES – buyers have control after a strong breakout this afternoon.
With bulls in control, and such a strong run higher, we can assume buyers will be waiting for buying opportunities on the next deep pullback off these highs.
And if we go sideways, then we start looking for buy setups off support levels below the range…
Sellers need to stay patient – wait for a crown reversal off the highs, or momentum to turn bearish with a 123-Reversal going lower. The range below us will make an easy target if bears can get their claws back into this market tomorrow morning.
Crude Oil Futures (CL):
Crude Oil Keys to Success:
Crude Oil is range-bound and buyers appear to be trying to make their way up to retest that strong breakout highs above today’s range.
Make no mistake – this Oil market is one big range right now, so we can expect sellers to be waiting at these highs, and buyers waiting down at the lows.
Sellers have the best shot right now – momentum is bullish, but a breakout-pullback off this support trend-line looks like a great entry.
One thing sellers need to avoid is chasing the market lower – there’s a small pendulum-swing support level down there, and with an overall bull trend, it’ll be a better place to look for longs.
Buyers need to stay patient for their opportunity to buy off the low of the range.
One thing to remember is that momentum will be very strong by the time we get down here, so it’s best to stay patient and look for a crown reversal pattern to buy into stops rather than trying to “pick the bottom”.
