Is this Rally Finally Over? (3 Exhaustion Trades)

Lots of great trades on my radar for Thursday…

We’re seeing ranges on the charts again tonight, which means I’ll be trading failures, breakouts, and rotation plays tomorrow morning…

But there’s also some big exhaustion clues on the charts tonight, which makes me wonder…

Is this rally finally over?  Or is this just a pullback before another breakout higher?  Either way, I got you covered in tonight’s video…

E-Mini S&P (ES):

E-Mini Keys to Success:

• Range Market = Failures, Rotation & Breakouts
• Price continues to rotate back and forth from top to bottom of this weekly range, using pendulum-swings and an expanding triangle as the objectives.
• Bulls are looking for long entries going back to the range highs tomorrow morning, while sellers need to break this rotation with a strong breakout move lower.

Top 3 Trades for Tomorrow: 

• UP – Buy the 2-try trap (or) sell the buyer failure
• DOWN – Buy the trap & buy the seller failure (or) sell the 123-breakout
• SIDEWAYS – avoid the middle of the range, wait for a breakout

E-Mini Nasdaq (NQ):

Nasdaq Keys to Success:

• Range Market = Failures, Rotation & Breakouts
• We’ve developed into a range this afternoon, and with slightly higher-highs and higher-lows, the bulls have the edge on momentum.
• Buyers will be looking to buy support levels below the range, as well as buying the rotation back to the highs.
• Sellers need to be patient for either a strong breakout lower, or a short off resistance above range highs.

Top 3 Trades for Tomorrow: 

• UP – buy the 2-try trap (or) sell the buyer failure
• DOWN – buy the seller failure (or) sell the 123-breakout
• SIDEWAYS – sit on hands and wait for a breakout

Gold Futures (GC):

Gold Keys to Success:

• Range Market = Failures, Rotation & Breakouts
• Big Move Today, Range tomorrow?
• Buyers have control with a Spike & Range pattern that has pulled-back and is currently trying to complete a pendulum-swing going higher.
• Buyers will be looking to trade the breakout going higher, along with buying support levels below the range.
• Sellers need to stay patient and wait for momentum to change hands with either a failure to retest the highs, or a reversal off the highs.

Top 3 Trades for Tomorrow: 

• UP – buy the breakout (or) sell the buyer failure off the highs
• DOWN – buy the seller failure (or) sell the 123-Reversal
• SIDEWAYS – Sit on hands and avoid the middle of the range, wait for a breakout