Predicting the “Head Fake”
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We have some strong moves on the charts tonight, but some of these moves appear to be head-fakes, while others are legit – how do you know? That’s the subject of tonight’s newsletter…
Crude Oil is bullish and still trying to reach that $50/barrel target, and I hope we get a pullback so I can find some buying opportunities before the news tomorrow morning.
E-Mini S&P is bullish at the high of a range, and I’m expecting buyers to try buying the next pullback, where I’m going to look for them to fail so I can sell into their stops.
Nasdaq is bullish, but we’re at the top of a trading-range, so I’m waiting for the buyers to fail so I can sell this back into the range tomorrow morning.
Gold is bullish and looking for a short-covering rally back int
o the range, and I’m waiting for the 2-Try Failure pattern to trigger the entry.
Euro is bullish and choppy around the 15,000 round number, and I have my eye on buying opportunities using the low of a hidden channel.
Crude Oil is mighty bullish ahead of the Inventory Report…
Crude Oil is bullish with a Spike & Channel, hidden channel, trading-range, and measured-move on the chart.
The Spike & Channel tells me to buy into a DEEP pullback off the highs.
The hidden channel makes for an excellent place to look for that deep pullback.
My goal is to look for buying opportunities on the deep pullback using a 2-Try Failure pattern off the hidden channel.
E-Mini S&P is trying to fool us…
E-Mini S&P is bullish with a trading-range, Spike & Channel, resistance trend-line, and measured-move on the chart.
The trading-range tells me to sell the high of this range using the ‘2-Try Rule’.
The Spike & Channel tells me that buyers will likely try buying the next pullback.
My plan tomorrow is to wait for these buyers to try to buy the pullback and sell into their failures using the nested 2-Try Failure pattern.
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E-Mini Nasdaq is trying to pick my pocket…
E-Mini Nasdaq is bullish with a trading-range, bull channel, and measured-move.
The trading-range tells me to look for SELLING opportunities above the highs.
The channel tells me that bulls will most likely try to buy the next pullback.
I’m looking for selling-opportunities after the buyers try twice at the battle-zone.
Gold is looking for a short-covering rally…
Gold is bullish with a trading-range, hidden channel, and ‘2-Try Rule’ tonight.
The trading-range tells me to buy the low of the range using the ‘2-Try Rule’.
I can see the sellers have tried twice to keep this momentum going lower, so the market is ready to move higher.
The hidden channel will make for an excellent place to look for the sellers to fail, and buying opportunities back into the range.
Euro is choppy around 15,000…
Euro is bullish with a trading-range, hidden channel, measured-move and reversal-line on the chart tonight.
The trading-range is the big clue on this chart, telling me to look for buying opportunities below the range using the ‘2-Try Rule’.
My plan is to look for buying opportunities below the low of this trading-range, hopefully in combination with the low of this channel and the reversal-line.
