August 16, 2021
3 Pullbacks & 2 Reversal Trades for Tuesday
Oh boy, here we go again!
We’re back in the action once again, this time for the 3rd week of August, which is usually one of the best weeks to be trading…
Both the Emini and Nasdaq had strong bull runs higher to finish today’s session, and I have (3) three pullback entries in watching for tomorrow…
Gold is bullish as well, and a spike and channel tells us exactly where the best pullbacks will be, along with (2) potential reversals you won’t want to miss…
Tomorrow is shaping-up to be an exciting trading day, are you ready?
E-Mini S&P (ES):
E-Mini Keys to Success:
- Trending Market = Continuations, Reversals & new Ranges
- Big Move today often means a narrow trading-range tomorrow.
- Strong move higher for the bulls tells us a retest of today’s high is likely on Tuesday.
- Buyers will be looking for entries on pullbacks to support levels, while keeping an eye open for a new range at some point overnight.
- Sellers need to stay patient for either a 123-Reversal or signs of exhaustion at these highs.
Top 3 Trades for Tomorrow:
- UP – buy the 2-try trap & buy the 123-breakout
- DOWN – buy the seller failure (or) sell the 123-Reversal
- SIDEWAYS – wait for the new range, then look for buying opportunities at support levels below
E-Mini Nasdaq (NQ):
Nasdaq Keys to Success:
- Trending Market = Continuations, Reversals & new Ranges
- Big moves today often result in small ranges tomorrow.
- Bulls have control with a strong move higher, suggesting a pullback and retest of the highs is likely at some point tomorrow morning.
- Buyers will be looking for entries at support levels waiting below, while anticipating a sideways range at some point tomorrow.
- Sellers need to sit on hands and wait for either exhaustion at these highs, or a 123-Reversal going back in the opposite direction.
Top 3 Trades for Tomorrow:
- UP – Buy the 2-try trap & buy the 123-breakout
- DOWN – buy the seller failure (or) sell the 123-Reversal
- SIDEWAYS – sit on hands, then look for buy setups at support below the new range.
Gold Futures (GC):
Gold Keys to Success:
- Range Market = Failures, Rotation & Breakouts
- Bulls have control into either a spike and channel or a trading-range this evening.
- Either way, buyers will be looking for pullback entries down near the Weekend Gap, or breakout entries if buyers try making another run higher.
- Sellers need to stay patient for a 123-Reversal or a 2-Try Reversal to short off the highs.
Top 3 Trades for Tomorrow:
- UP – buy the 2-try trap
- DOWN – buy the seller failure (or) sell the 123-Reversal
- SIDEWAYS – stay patient and wait for buying opportunities at support levels below the range.
