FOMO Breakout Pattern

We’re getting closer to the Labor Day Holiday Weekend, which means tomorrow is the last (full) session of the Summer Season…

And with most of our favorite markets bouncing around back and forth within their weekly ranges, my strategy is to continue fading the breakouts, while keeping my eyes open for the FOMO Breakouts – are you ready?

Crude Oil Bears Waiting to Sell the Bounce

Crude Oil is bearish after a 123-Reversal, which means I’m looking for sell set-ups using the high of the new Hidden Channel…

But I’m also expecting to see buyers waiting below this morning’s lows, at which point I’m looking to buy the bear-breakout using a “nested’ failure pattern.

E-Mini S&P is Running Higher, But Will It Last?

E-Mini S&P is bullish with a Spike & Channel pattern, but look closer at the chart and it’s easy to see we’re trading up at the high of the weekly range…

Knowing this, my goal is to sell the high of this range, but the short-term momentum is so bullish that I need to wait for a “nested” buyer-failure to sell it short.

Nasdaq Wants to Run Lower, But Where’s the Entry?

Nasdaq is bullish with a Spike & Channel running higher, but we’re back to the highs of the weekly range, which tells me the only reliable entry set-up is to look for the buyers to try twice and sell into their stops…

And if we can get back down below the range again, I’ll be looking to buy the low using a seller-failure as well.

Gold is Whipping Back and Forth…

Gold is bullish and trading sideways within an expanding triangle, which tells me to use the trend-lines above and below as key support and resistance levels…

And remember the momentum is bullish, so I can be a lot more aggressive buying off the low than I can be selling off the high – so chose the correct entry pattern!

Euro Has Everyone Waiting for the Pullback!

Euro is bearish with a wedge pattern that’s getting narrower with each candlestick, which tells me to expect either a range or a bounce coming shortly…

And I hope we get the bounce up off these lows, so I can wait for a buyer-failure and sell it back down again.

“To become financially independent, you must turn part of your income into capital; turn capital into enterprise; turn enterprise into profit; turn profit into investment; and turn investment into financial independence.”