Plan the Exit Before Entry
We have ranges on the E-Minis and trends on Gold and Oil, which tells me the best trading strategy for Wednesday morning…
But one of the big clues I see on today’s charts is that most of these markets are running into major s/r levels, which reminds me to plan my exit price in order to know the best entry set-up – are you ready?
Can the Bears Hold These Lows on Oil Tomorrow?
Crude Oil is bearish with four legs down after news from OPEC sent the market collapsing lower, and anytime I see a market move that far in such a short period of time, I always expect a range-bound market the following…
Knowing this, my goal is to look for sell setups up above the high of the range using buyer-failure patterns tomorrow morning…
E-Mini Bulls Have Been Waiting for this Pullback!
E-Mini S&P is bullish, but higher-lows and lower-highs tell me this market is now going sideways with a range, which makes the plan easy for Wednesday…
Because range-bound markets tell me to buy the low, sell the high, and avoid the middle, so I’m waiting to buy the low of this range using failure patterns…
Watching the Expanding Triangle on Nasdaq…
Nasdaq is bullish, but a strong move down off the highs alerts me that we’re probably going to see a deep pullback off these highs tomorrow morning…
Knowing this, I want to buy the dip, but I’m watching to see how strong this pullback is, because I may need to use the “nested” failure pattern to be more conservative.
Gold Needs to Pullback or Blast to New Highs…
Gold is bullish and trading right at the highs from yesterday and today, which isn’t a very reliable place to start buying…
A better plan, is to wait for a pullback and buy a seller-failure down around 1466 or wait for a 123-Breakout and buy the pullback to the low of the new hidden-channel.
“What we call the beginning is often the end. And to make an end is to make a beginning. The end is where we start from.”
