Fake-out breakout day trading strategy for sideways-trading-range

Have you
been frustrated by the sideways ranges we get in the summer month of August?

Are you looking for an easy way to
trade a sideways-trading-range?

This morning
we found a sideways-trading-range on Crude Oil Futures and we used a very
simple day trading strategy to make some great profits today.

In today’s video I will
discuss the three (3) scenarios that we must prepare for when we see a sideways-trading-range.

Crude Oil Sideways Range

The first scenario we look for is the
‘bounce’ off the highs or the lows of the range.
This is very simple; we want to buy the lows and sell the highs of this trading-range
so all we need is to see a price-reversal entry pattern, such as a 2-Step
pattern, to enter long at the lows or short at the highs.

The second scenario we plan for is
the FOBO, or fake-out breakout. This occurs when price-action
completely breaks out of the trading-range, however, rather than continuing in
the same direction it will stall and reverse back in the direction it came
from. We love these types of trades because
they often give us incredible reward for very little risk.

The third scenario, which we see
quite often, is a breakout with continuation. When we see
new higher-highs or lower-lows after a breakout of the trading-range we then
use our Wave Pattern to enter long above the highs or short below the lows.

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