3 Steps to Success (Tuesday’s Trading Plan)
Markets took a tumble lower today after seeing another record-high number of new COVID cases over the weekend, along with the lack of any progress on a stimulus deal here in the US…
The most important clue, however, is that we’re seeing range-bound markets going into Tuesday morning, which means we’re focused on trading failures and breakout patterns.
There are some tricky situations going into the opening bell tomorrow so make sure you follow my 3 rules for trading success, let’s get started…
E-Mini Sellers Have Control, Do The Buyers Know That?
E-Mini S&P is bearish after running three legs lower today, and with such a strong move down, I’m looking for ways to get short off resistance levels for a retest of today’s low…
One of the biggest challenges, however, is the way price bounced off this afternoon’s low, telling me I need to focus on bull traps for the best short entries tomorrow morning…
Crude Oil Bear Wedge Tells us to Short the Pops…
Crude Oil is bearish and finished today’s session going sideways with a range. The bearish momentum tells me to get short at resistance levels up above the high of the range, and I have my eyes on the high of a new “hidden” bear channel…
Gold Buyers Looking for Buy Setups Below the Range…
Gold is bullish into a narrow trading-range (no surprise with the election only a week away), which means I’ll be looking for buy setups using seller failure patterns down below the range on Tuesday morning.
