Trading with “Failed” Failures

We’re heading into the end of April, which tells us to expect increased volatility tomorrow morning.

And with some big news coming overnight, combined with range-bound markets on the charts – my focus will be trading those “failed failure” set-ups on Tuesday.

Crude Oil Wants to Break High – Better Think Twice!

Crude Oil is bullish and appears to want to go higher, but wise traders know that we’re also trading at the high of this morning’s range, which is a great place to catch the buyers on the wrong side of this market.

And to make that happen, my goal is to look for the buyers to try buying the next pullback, waiting to sell into their stops for a classic “failed failure” back down to the range low.

E-Mini S&P is Pulling Back – Right into the Bulls!

E-Mini S&P is bullish, which tells me to look for buying opportunities at key support levels on Tuesday morning.

The challenge is, we’re too high to buy – so my plan is to wait for a deep pullback to a cluster of support levels around 2940 and then look for buying opportunities into the stops of the sellers.

Nasdaq Just Shot Lower – But Will This Hold?

Nasdaq is bullish overall, but bearish in short-term momentum with a strong move lower in the wake of this evening’s earnings reports.

Knowing this, I want to buy this pullback, but the momentum is too strong for the bears, so the best strategy is to use a “nested” failure pattern, staying patient for the right time to buy into a short-covering rally back higher.

Gold is Back in the ‘No Trade Zone’

Gold is bearish, so I’m looking for selling-opportunities up at resistance levels overhead, and I can see a handful of great resistance levels up around the high of the major range, minor range, and high of the Hidden Channel.

Knowing this, I’m going to stay patient and look to sell using the 2-Try Failure pattern, with a target back to the low.

Euro Looks Bullish – But Look Left!!

Euro is bullish, but just like Crude Oil, it’s trading into the high of last week’s trading-range, which is a horrible place to get long.

Knowing this, I’m anticipating the buyers will try to buy the next pullback, and if/when they do, I’m going to look for opportunities to sell into their stops for a move back down to the lows.

“Everyone has talent. What is rare is the courage to follow the talent to the dark place where it leads.”