My Favorite Trap Entries for Tuesday

We’re back to our desks for the final week of February, and we have a lot of great opportunities on our radar for Tuesday’s trading session…

We got some big moves in our favorite markets today, but if you look closely, you’ll see we have a lot of “tight spaces” we need to avoid tomorrow morning…

In these ‘tight’ situations, the one entry setup I trust most are traps!  Here’s where to find them on Tuesday…

E-Mini Keys to Success:

• Weekend GAP, strong move down into a range. GAP fill & pendulum swing completed, now sellers will try to retest the lows.
• Bears Want to sell resistance levels above the range.
• Bulls Want to reverse momentum and retest today’s high

Best Setups for Tomorrow: 

• [UP] – buyer failure to sell (or) 123-Reversal to buy
• [DOWN] – 2-try trap to sell (or) crown reversal to buy
• [SIDEWAYS] – sit on hands, wait to short the pops!

Crude Oil Keys to Success:

• Bullish wedge trying to retest major highs @ 62.29
• Bulls Want to keep pushing up to $65
• Bears Want to reverse the trend back to $60’s range

Best Setups for Tomorrow:

• [UP] – 123-breakout to buy (or) crown reversal to sell
• [DOWN] – seller failure to buy (or) 123-Reversal to sell
• [SIDEWAYS] – sit on hands, wait to buy below the range

Gold Keys to Success:

• Strong Bull Trend higher completes the measured-move just before major highs at 1814.2
• Bulls Want to keep pushing back to the 1850 range from January
• Bears Want to reverse the trend and go back to today’s lows.

Best Setups for Tomorrow:

• [UP] – 123-breakout to buy (or) crown reversal to sell
• [DOWN] – shallow trap, deep pullback failure to buy (or) 123-Reversal to sell
• [SIDEWAYS] – sit on hands, wait to buy below the range.