Momentum & Failure Combination

We got some strong moves to start today’s session, but as of the closing-bell we’re right back to trading inside the lunch-time ranges, which tells me these “balanced markets” are going to be play a big role on Wednesday morning…

And my plan with a range is always the same; combine the short-term momentum with the ‘2-Try Rule’ for the most reliable failure set-ups – are you ready?

Crude Oil Bears Got the Job Done, Now What?

Crude Oil is bearish back into the range from the beginning of October, which tells me to look for sell set-ups using buyer-failures up above the high of the range tomorrow morning.

But don’t forget the news mid-morning tomorrow, because that may lead to a 123-Breakout and an opportunity to trade off the high/low of a new Hidden Channel.

E-Mini S&P Bears Want a Breakout, But Think Twice!

E-Mini S&P is bearish and trading just below the range from this morning, which tells me to wait for sell set-ups using the ‘2-Try Rule’ up at the high of a new Hidden Channel…

And if the market tries to go lower, I’m watching for a “nested” failure to buy off the lows for a counter-trend reversal.

Nasdaq Bears Need a 123-Breakout…

Nasdaq is bearish and trying to breakout below today’s range, which isn’t a very reliable sell location, in fact, I’d rather buy this market using a “nested” failure or wait for proof of the breakout with a 123-Breakout instead.

And don’t forget that news from Jerome Powell today, which should be seen as bullish for the Nasdaq, so I’m watching for a 123-Reversal and a buy set-up off the low of a new Hidden Channel.

Gold Bulls are Waiting the Expanding Triangle Low!

Gold is bullish into a narrow trading-range, which tells me to look for buy set-ups using the ‘2-Try Rule’ below the range, especially around the support trend-line waiting below.

And if price tries to breakout higher, I’m looking to leverage the short-term momentum with a 2-Try Breakout Pattern with a target up to the measured-move at 1526.

“Quote here”