REVERSAL ALERT! This FAILED BREAKOUT Could Be an Easy 10x on Tuesday!!
Holiday’s over – let’s make some money!
Emini and Nasdaq are bearish running lower, telling us to look for shorts off key resistance levels overhead…
But did you see that range above? All that support below? Yea – let’s hope the bears fail because this reversal pattern could be an easy 10x tomorrow morning!
Emini and Nasdaq are both bearish with strong moves lower – I’m looking for a bull trap to sell the bounce, but I hope they fail because this reversal is even better!
Crude Oil is bullish into a range, telling us to look for pullbacks and breakouts going higher – and with recent headlines out of China, we’d be foolish to ignore this easy reversal pattern if they fail!
E-Mini S&P (ES):
The Emini is bearish with a strong breakout running lower, telling us that sellers will be looking for entries off resistance levels and a retest of today’s low.
Buyers, on the other hand, are hoping the bears fail to hold the next pullback, so they can buy the reversal back up into the range again!
Keys to Success:
- Range breakout, strong move lower, range above us
- Bears want a pullback and a retest of the low
- Bulls want a reversal back up into the range
E-Mini Nasdaq (NQ):
The Nasdaq is bearish and just completed a pendulum-swing with a strong move lower, telling us that sellers will be looking for entries off resistance levels for a retest of today’s low.
Buyers want the sellers to fail on the next pullback, giving them a reversal back up into the range again.
Keys to Success:
- Range with Pendulum-swing, Strong Move lower
- Bears want pullback entries for a retest of the low
- Bulls want a reversal back up into the range above.
Crude Oil Futures (CL):
Crude Oil is bullish with a strong run higher into a range, telling us that buyers will be looking for pullbacks off support levels below, and breakouts running higher.
Sellers need the buyers to fail, and they’ll be looking for shorts off the high of a new bear channel if they do!
Keys to Success:
- Strong move higher into a range
- Bulls want to buy pullbacks and breakouts going higher
- Bears want a reversal back to this morning’s range lows.
