Don’t Get Short Until You Watch (Thurs. Trading Plan)
It was a bloodbath in the markets today, with all major sectors crashing lower after new lockdowns were announced in parts of Europe early in the US session…
After the dust settled, markets began trading sideways, and those ranges tell us exactly where to find the most reliable entries tomorrow morning…
But not so fast – those ranges also tell us momentum will play a key role in our choice of entry patterns, so make sure you watch this before you get short…
E-Mini Spike & Channels Tells the Bears Where to Look…
E-Mini S&P is bearish into a spike and channel pattern, which tells us to look for short entries up near the base of the channel on Thursday. Our once concern is momentum is the pendulum swings back for the bulls…
Crude Oil Bears Would Love a Test of This Trend-Line…
Crude Oil is bearish into a trading-range, which tells us to get short at resistance levels up above the range tomorrow morning. My favorite place will be selling off a key resistance trend-line waiting overhead…
Gold Sellers Need to Use Momentum to Get Short…
Gold is bearish and trading sideways right on top of major support at 77.2, which tells us to wait patiently and “sell the pops” tomorrow morning. Just make sure you check momentum to confirm the right entry pattern…
