2-Try Breakout Strategy
We’re anticipating more range-bound markets in Wednesday’s trading session, which means we’re focused on failures, buying low and selling high…
But we’re also anticipating some breakouts of those ranges, which means I’m keeping my eyes open for the 2-Try Breakout Pattern – are you ready?
Crude Oil is Setting-Up for a Range
Crude Oil is bullish, but it looks like we’re back inside a trading-range again this evening, which tells me to buy set-ups down below the range a failure set-up…
But with the strong bull run before the range, I’m also keeping my eyes open for a 2-Try Breakout Pattern to run higher.
E-Mini S&P Just Complete the Objective (Now What?)
E-Mini S&P is bearish with a strong run lower to finish today’s session, which tells me to expect another leg in the same direction…
And my plan is to look for sell set-ups at a key “battle-zone” resistance area waiting overhead on Wednesday morning.
Nasdaq Just Tested Major Support (Do You See It?)
Nasdaq is bearish with a strong run lower into the closing bell, and with such strength into the close, I assume there will be plenty of sellers waiting to sell at resistance levels tomorrow morning…
Knowing this, I’ve got my eyes on the reversal-line up at 7685.50, in combination with a buyer-failure set-up for another leg lower.
Gold is Ripe for a 2-Try Breakout (Where’s the Target?)
Gold is bullish into a narrow range-bound market this evening, which tells me to look buy set-ups using the “battle zone” as key support below…
But if price continues this bullish momentum higher, I’m looking for a 123-Breakout or a 2-Try Breakout Pattern to complete the measured-move target at 27.3.
Euro is All About the Short-Term Momentum…
Euro is bearish into a WIDE trading-range, which tells me to sell the high, buy the low, and avoid the middle tomorrow morning…
But the big clue on this chart is the recent bullish momentum swing off the low, telling me to look for a “nested” failure set-up off the highs.
“Repetition is the key to long-term success. Some people think repetition is boring, while I see repetition as sharpening the knife of success.”
