FOMO Trading Strategy

We have a handful of strong range breakouts on our favorite markets tonight, but you know me, I don’t chase these moves…

Anytime I see breakouts I’m looking for ways to trap those “FOMO” traders on the wrong side and make them pay, here’s the strategy…

Crude Oil is running higher, and rather than chasing this move higher, I’m waiting patiently to buy the pullback using the low of a Hidden Channel.

E-Mini S&P is bullish with a strong breakout higher, but we’re too high to start buying, so my plan is to wait for sellers to try calling a top and buy into their stops.

Nasdaq is bullish with a spike higher into today’s close, but its not the bulls I’m watching, it’s the BEARS because of the strong pullback, I’m waiting for a second leg lower before I consider buying this tomorrow morning.

Gold is bullish after a 123-Reversal off the moving-average, but I don’t want to chase the bounce higher, avoiding FOMO, my plan is to buy the low of the range using the 2-Try Failure pattern.

Euro is bearish, but look closely and you can see we’re stuck at multiple support levels, so rather than trying to force it lower, I’m waiting for all the FOMO rookies to give up so I can buy into their exits for a rally higher!

Crude Oil is Bullish, But Not the Time to Chase

The momentum is bullish, which means I’m waiting for a ‘2-legged pullback’ off the highs before looking for a buy set-up going back to the high.

But the trading-range is a big concern because it reminds me I need to buy near the lows, not near the highs.

Knowing this, I want to wait for that pullback and try to get long as close to the low of this range as possible.

E-Mini S&P is Racing High & I’m Watching Key Support

E-Mini S&P is bullish, which tells me to wait for the pullback to key support levels and look for the entry pattern going back to the high.

Knowing this, my goal is to use the reversal-line at 2715.75 as my key support and look for a 2-Try seller-failure pattern for the entry long.

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Nasdaq is Bullish, But It’s the Seller’s I’m Watching

Yes, the Nasdaq is clearly bullish, which means I’m looking for buy set-ups after a seller-failure below the moving-average.

The challenge for me is this big spike off the highs, because that tells me to expect another leg lower.

So knowing this, I need to wait for the next leg lower and then start looking for buying opportunities going back to the high.

Gold is Bullish But Looks Like a Bear Market

Gold is a wolf in sheep’s clothing on the chart tonight because at first glance the market is clearly bearish.

But when you look closer you can see the bullish 123-Reversal off the moving-average, which gives the momentum to the bulls.

Knowing this, my plan now is to find a way to “trap” those sellers below the moving-average and my goal is to use a ‘2-legged pullback’ pattern.

Euro is Bearish, But Are We Too Low?

The euro is certainly bearish and the sellers just re-tested the low, which is considered the market’s objective.

The market’s objective is important because not only is it major support, but it signals to us that sellers are likely ready to take profit (instead of selling it lower).

Knowing this, I’m looking for buying opportunities off the lows as soon as I see sellers try and fail twice.