Momentum Confirms My Next Trade; 3 Step Strategy
It was another wild day in the markets today; Gold ran another leg higher, Emini ES rotated back and forth inside a wide range, and Crude Oil started slow but finished the session with a strong momentum move higher…
Speaking of momentum, that was the big clue of today’s session; all of our markets are showing signs of “failure into momentum confirmation”, which tells me exactly where to find the most reliable entry setups on Thursday…
E-Mini Buyers Look to Retest Major Highs…
E-Mini S&P is bullish with a 123-breakout of today’s trading-range; momentum is firmly in the hands of the bulls, and this three-legged move tells me exactly where to find the best entry setup tomorrow morning.
Crude Oil Buyers Need to Stay Patient…
Crude Oil is bullish and trying to break free of this week’s trading-range; the buyers finished the session with momentum on their side, but I don’t dare buy the range high, so I’m waiting for a pullback to get long off a support trend-line.
Gold Looks Like a Reversal, But Wait…
Gold is bullish after a strong run higher today; at first glance, the pullback looks like a reversal, but momentum doesn’t confirm. Knowing this, my plan is to wait for sellers to get short on the next pullback and buy into their stops for a retest of today’s high.
