Trading with Confluence Levels
We saw some incredible momentum moves in today’s trading session, but most of our markets finished inside of trading-ranges…
And those ranges tell me to focus on failures – buying low, selling high, and looking for reliable support and resistance levels using confluence on Tuesday morning – are you ready?
Crude Oil Has Plenty of Confluence Levels
Crude Oil is bullish with a strong Spike & Channel running higher, which tells me to wait for buy set-ups after a deep pullback…
So I’m looking for reliable support levels to combine with my buy set-ups, and I can see a major “confluence” zone waiting with my name on it Tuesday morning…
E-Mini S&P Trades Into a Spike & Range
E-Mini S&P is bullish into a range-bound market, which tells me to look for buy set-ups below the range…
Knowing this, I can see a clear “confluence” area below the range, where the Hidden Channel and range-expansion levels come together.
Nasdaq Want to Test that Hidden Channel
Nasdaq is bullish into a narrow trading-range, which always tells me to wait for a DEEP pullback before trying to buy going back up to the high…
And my plan is to use the low of a Hidden Channel in combination with the battle-zone for the most reliable entries on Tuesday.
Gold Finished the Roller Coaster with a Range
Gold is bearish into a trading-range this evening, which tells me to buy the low, sell the high, and focus on failures tomorrow morning…
And since the bears have the control, my goal is to sell off the high, but I’m also keeping my eyes open for the opportunity to buy the low using a “nested” failure pattern.
Euro is Hunting for Monday’s Low (Then What?)
Euro is sideways and range-bound this evening, telling me to continue buying low, selling high, and avoiding the middle…
But what really catches my eyes on the Euro is the recent shot going lower, telling me to wait to start buying into seller-failures AFTER we re-test Monday’s low.
“If you are not willing to risk the unusual, you will have to settle for the ordinary.”
