3 ‘Open Loop’ Trades for Wednesday

How’s that for end-of-month volatility?  Wow, what a day!

We just finished up one of the wildest sessions of the year, and with all the big moves on the charts today, we have some big “open-loop” setups to look forward to tomorrow…

What’s an open-loop, you ask?  All three of our favorite markets have them right now, and it’s the key to finding the best entries and exits on Wednesday.  Are you ready?  Let’s go…

E-Mini Keys to Success:

• Bulls have control with 123-Reversal off today’s low, back into yesterday’s range.
• Bulls Want to buy pullbacks to support levels below.
• Bears Want to reverse trend and retest the lows.

Best Setups for Tomorrow: 

• [UP] – 123-breakout to buy (or) crown reversal to sell
• [DOWN] – seller failure to buy (or) 123-Reversal to sell
• [SIDEWAYS] – sit on hands, wait to buy the breakout lower.

Crude Oil Keys to Success:

• Strong move lower for the bears bounces off the lows into a trading-range, bears trying to finish the retest of today’s low.
• Bears Want to get short before we retest today’s low.
• Bulls Want to get long back into the range magnet overhead

Best Setups for Tomorrow:

• [UP] – 123-breakout to buy (or) crown reversal to sell range highs)
• [DOWN] – seller failure to buy (or) 123-breakout to sell
• [SIDEWAYS] – sit on hands, wait to buy low, sell high with failures.

Gold Keys to Success:

• Bullish into a trading-range.  Strong move lower suggests another leg down before retesting the highs.
• Bulls Want to buy below the range, or buy a bull breakout
• Bears Want to reverse the trend and retest Monday’s low.

Best Setups for Tomorrow:

• [UP] – 123-breakout to buy (or) crown reversal to sell
• [DOWN] – seller failure to buy (or) 123-breakout to sell
• [SIDEWAYS] – sit on hands, wait to buy low, sell high with failures