When ‘Traps’ are Necessary – Avoid the Head Fake
Our favorite markets are bearish going into Wednesday’s session, which means I’m looking for sell setups using key resistance levels overhead…
But sellers have a problem – support trend-lines – which cause “head fakes” and stop-runs. My solution (to avoid those losses) is to focus on traps tomorrow morning – are you ready? Let’s go…
Oil Sellers Have a Challenge Getting Short…
Crude Oil is bearish and trading inside a range, which tells me to look for sell setups at resistance levels to get short off the high…
The problem is, I can see rising support trend-lines coming off the low of this range, which tell me to look for “traps” instead of normal failure patterns…
E-Mini Sellers Looking to Short Bull Traps…
E-Mini S&P is bearish and sitting at major support this evening, telling me to look for sell setups at the high of today’s bear channel…
The challenge is, a recent higher-low creates a rising support trend-line, which I need to avoid, so I’ll be looking for bull-traps to get short off the highs.
Gold Comfortable at $1600 – Will It Last?
Gold is bearish into a range, telling me to look for sell setups at resistance levels above the range, ideally off the high of the new expanding triangle…
I’m also keeping an eye on breakouts, because with all the news headlines hitting the tape this week, I know a 123-Breakout will be a reliable trading opportunity.
