Catch ‘Em Chasing Breakouts

Markets continue to love these trading-ranges week, and whenever we have range-bound markets we know there will be plenty of opportunities to catch the rookies “chasing” those breakouts…

Which means the plan is to keep using those 2-Try Failure patterns to fade those breakouts on Thursday morning – are you ready?

Are the Crude Oil Bears Walking Into (Another) Trap?

Crude Oil is bearish and trading down at the low of the weekly range this evening, and with this recent spike lower, I assume there will be lots of rookies trying to chase the market lower…

Knowing this, I’m waiting for those breakout sellers to try selling twice before I look for the entry, buying into their stops for a short-covering rally back up to the highs.

Bulls Are Still Waiting on the E-Mini S&P

E-Mini S&P is bullish into a narrow triangle/range this evening, which tells me to look for buy set-ups using seller-failure patterns down below the range tomorrow morning.

And if price tries to push higher, I’m going to look for ways to sucker-in the breakout bulls and sell it back into the range using a crown reversal pattern.

Can the Buyers on Nasdaq Get the Job Done (Yet)?

Nasdaq is bullish and trading sideways with a range; and the recent bullish spike higher tells me there will likely be a lot of rookies chasing this move higher, which is a perfect time to consider selling the high (with the correct entry set-up of course)…

Knowing this, I need to wait for the buyers to try twice, and use a “nested” failure set-up to sell into their stops, with a target back to the lows of the range.

Gold Wants Back to $1500, But Where’s the Best Entry?

Gold is bullish and trying to run back to the 1500 psychological target waiting overhead, but we’re getting a little “too high to buy” at this point because we’re almost back inside the weekly range…

Knowing this, I more reliable entry will be using a “trap low” below the prior swing, or wait for a seller-failure set-up to buy below the moving-average.

“I Am Thankful For All Of Those Who Said, “No” To Me. It’s Because Of Them I’m Doing It Myself.”