I Don’t Trust These Levels

We continue seeing range-bound markets into this third week of March, and with some strong bullish headwinds, I’m gearing up for buying opportunities below the range and breakout opportunities through the highs…

But there are a handful of support and resistance levels on these charts that I don’t trust, so I’m looking for additional confirmation before I trade them.

Crude Oil is Hunting for a Third Leg

Crude Oil is bullish into a trading-range, which tells me to stay patient for buying opportunities below the range using seller-failure patterns for entry.

Knowing this, if the market does try to breakout higher, I have enough room overhead to look for a buying opportunity on the way up to the measured-move.

E-Mini S&P is Running Out of Space!

E-Mini S&P is bullish, but I don’t trust buying into the highs of today’s range, which tells me I need to either wait for a pullback or wait for the breakout.

And don’t forget, if we do get that breakout, it’s going to take threading the needle to find an entry before the measured-move, so it would be wiser to wait for the pullback and look for the double-top instead.

Nasdaq has Three Levels to Work With

Nasdaq is bullish and hunting for a re-test of today’s high, but looking closer at the chart and it’s hard to trust buying right at last week’s range high, right?

Instead, I’m looking for buying opportunities near the low of that range, or waiting for a successful breakout-pullback up to the measured-move target.

Gold Bulls are Waiting for Their Big Break!

Gold is range-bound with a slight bull bias, which tells me to look for buy set-ups using seller-failures below the trading-range.

The challenge is, I don’t trust buying this breakout higher because we clearly saw it fail earlier today, so I’m waiting for a STRONG run higher before I look for the trap set-up to the measured-move target overhead.

Euro is Hunting for 15,000 – Or What?

Euro is bullish and trying to get re-test today’s high, but we’re right about last week’s high and I just don’t trust buying at these levels.

Instead, id rather wait for a deep pullback and buy the lows, or wait for a strong leg higher and buy the trap near the low of the Hidden Channel.

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