TRADE THE SELLOFF!! Short the Bounces for BIG GAINS!
Oh boy, here we go again!!
Markets are bearish after a massive selloff today, so we’re shorting the bounces off (2) key resistance levels overhead…
Which levels work best? What’s the entry trigger? Let me show you!
Emini and Nasdaq are bearish and sitting on today’s low – I have (2) key resistance areas just begging for a short, just waiting for this signal!
Crude Oil is bullish after a strong spike higher, but look closely at the chart and you’ll see why this reversal is my favorite trade for Tuesday!
E-Mini S&P (ES):
The Nasdaq is bearish with a spike and channel pattern, telling us that sellers will be looking for entries at the top (and above) this bear channel.
Keys to Success:
- Bear spike and channel, retest of major lows
- Sellers want to sell pullbacks off channel highs above
- Buyers want a double-bottom reversal
- After 3 bearish days, watch for a sideways range
E-Mini Nasdaq (NQ):
The Emini is bearish and just retested today’s major low, suggesting that sellers will be waiting for pullbacks to “sell high” off resistance levels overhead.
Keys to Success:
- Bear Spike and channel, recent retest of major lows.
- Sellers to sell pullbacks at resistance levels overhead
- Buyers want a double-bottom reversal
- After three days lower, watch for a sideways range.
Crude Oil Futures (CL):
Crude Oil is bullish after a strong spike higher broke free of today’s range. Buyers will be looking for a retest of this high, then we need to look for a bull breakout or a reversal back into the range below.
Keys to Success:
- Strong move higher, resistance above, range below
- Buyers want a retest of this high, then a breakout
- Sellers want a reversal back into the range below.
- Breakout needs to pop because we have major resistance above.
