GAP ALERT!! (2) Ways to ‘Run Stops’ for Big Gains!!
ALERT! Tonight’s ‘GAP DOWN’ Caught everyone by surprise…
Here are 2 bonus setups to watch on the Emini and Nasdaq tomorrow!
- Emini – https://prnt.sc/v4n5GYueTQne
- Nasdaq – https://prnt.sc/rRFZbyG0ga5u
Welcome back – let’s get after it!!
Eminis are bullish with ranges tonight, and this massive GAP DOWN at the open tells us to focus on “running stops” for the easy trades tomorrow!
Emini and Nasdaq are both bullish into range – I was looking for a breakout going higher, but this surprise GAP DOWN changes the gameplan!
Crude Oil is bearish into a range – I’d love to trap buyers for shorts off the highs, but I think this breakout looks more likely instead…
Don’t forget – we have a holiday weekend ahead of us, so every trade counts. Here are my favorites for tomorrow!
E-Mini S&P (ES):
The Emini is bullish and trying to break above this afternoon’s range.
Keys to Success:
- Buyers just retested today’s high – now where from here?
- Buyers want to buy breakouts going higher, or pullbacks off support levels below this range.
- Sellers want a reversal off the highs, or rotation back to the range below.
E-Mini Nasdaq (NQ):
The Nasdaq is bullish and just retested major resistance above today’s trading-range, telling us to look for breakouts higher, or reversals back down again.
Keys to Success:
- Bulls recently retested the major highs today – now what?
- Buyers want a breakout higher, or buy a pullback
- Sellers want a reversal off these highs
- Bull breakouts need to use traps because we have major resistance at 12189.50 overhead.
Crude Oil Futures (CL):
Crude Oil is bearish into a range, telling us that sellers will be looking for shorts off resistance levels overhead, along with breakouts going lower.
Keys to Success:
- Bearish into a range says look for shorts off resistance overhead, or breakouts going lower on strength.
- Buyers need to be careful; they need a strong breakout through 112.
- Sellers want to sell resistance above range highs, or breakouts going lower.
- Bear breakouts are easy, but beware the bull breakouts.
