Better Entries & Exits Using the Pendulum Swings
Markets are range-bound going into the end of this week, and with OPEX just around the corner, I’m expecting increased volatility and lots of great trade set-ups…
Speaking of set-ups – whenever I see a range, my plan is to buy low, sell high, and focus on failures around the pendulum-swings on the chart – here’s how…
Oil Sellers Have a Big Obstacle in Their Way…
Crude Oil is bearish and trying to break through the highs of today’s range, which is an excellent place to get short into the stops of the aggressive breakout buyers…
But look closely, we have a rising support trend-line coming up from below, which tells me I need to look for “traps” as the most reliable entry set-up…
E-Mini Bears Hunting for the Pendulum Swing
E-Mini S&P is bearish and rolling over off the highs of today’s range, which looks like a great time to get short before we hit the pendulum-swing target below…
But just like Oil, we have rising support below us, so I’m looking for “traps” on the way down, and I’ll leave the trend-line on the chart as resistance on the opposite side…
Gold Sellers Waiting for Their Spot…
Gold is bearish and sitting at the bottom of today’s range, telling me to look for sell setups above the range using buyer-failure patterns…
I always like to include additional resistance on my short trades, so I’ll wait to test the pendulum-swing resistance waiting overhead…
