FAKE-OUT!! This “Trap” Could Be a HUGE Payday!!
Back to work – you ready for Thursday?
I hope so, because this ‘Fake-Out Breakout’ is one of my favorite trades of the week! Play this setup correctly and take the rest of the day off!!
Emini and Nasdaq are bearish tonight, but don’t let that fool you – it’s smells like a ‘fake-out breakout’ and I wanna make sure you’re ready!
Crude Oil is bullish with a strong spike higher – I’m lookin to buy a pullback, but there’s ONE THING standing in our way – keep this on your radar!
E-Mini S&P (ES):
The Emini is range-bound and trading at support levels below today’s range.
Buyers will be looking for reversals going higher, while sellers look for breakouts.
Keys to Success:
- Range in the middle of the chart, sub-ranges around the edges
- Buyers want a reversal back to the highs.
- Sellers want a breakout lower.
E-Mini Nasdaq (NQ):
The Emini is bearish into a range, trading down near the low of today’s larger range.
Sellers will be looking for breakouts, while buyers want a reversal back into the range above.
Keys to Success:
- Range market, bearish run into another range at the lows.
- Buyers want a reversal going back up into the range above
- Sellers want a breakout thru the lows.
Crude Oil Futures (CL):
Crude Oil is bullish with a strong spike higher into a trading-range.
Buyers will be looking for pullbacks and breakouts, while sellers want a reversal!
Keys to Success:
- Bullish spike without any deep pullbacks, trading-range
- Buyers want deep pullbacks and breakouts
- Sellers want a reversal back to last week’s close
