This FAKE-OUT BREAKOUT Could Easily 10x Ahead of Powell on Tuesday!
Oh, you can smell the ‘traps’ coming tomorrow!
Markets are range-bound ahead of Powell’s speech tomorrow afternoon…
We’re bullish overall, and ranges act like magnets… telling us this ‘Fake-Out Breakout’ could be an easy 10x reversal tomorrow morning!!
Emini and Nasdaq are bearish in ranges, but we’re sitting on major support in an overall bull market – perfect recipe for a bear trap ‘fake-out breakout’!
Crude Oil is bullish as price rotates off today’s low, but we’re at resistance above a range in an overall bear market – perfect cocktail for a bull trap reversal!
E-Mini S&P (ES):
Emini is bearish into a range, sitting on major support.
Buyers would love to get a ‘fake-out breakout’ around the lows, or a breakout higher, while sellers try to force price thru the lows.
Keys to Success:
- Bull Bias, Bear Range, Major Support
- Up: Buy Breakouts, Sell Crown reversal
- Down: Buy Reversals, Sell Breakouts
E-Mini Nasdaq (NQ):
Nasdaq is bearish into a range, and the overall bullish bias tells us that buyers will be looking for bear-traps below range lows tomorrow!
Keys to Success:
- Bull Bias, Bear Range
- Up: Buy Breakouts, Sell Crown reversal
- Down: Buy Reversals, Sell Breakouts
Crude Oil Futures (CL):
Crude Oil is bullish as it rotates off the low of today’s range, but the overall bear bias tells us sellers will be looking for ways to reverse this move back into the range below.
Keys to Success:
- Bear Bias, Bullish Rotation Off Range Low
- Up: Sell Crown reversal, Sell Double-top
- Down: Sell Bull Traps, Buy Double-bottoms
