PULLBACK ALERT!! These (2) Bull Traps Could Be PERFECT Entry!!
Back to work – big week ahead of us!!
Emini and Nasdaq made BIG MOVES down today, telling us that bull traps will make the perfect entries for Tuesday – these (2) are my favorite!
Emini and Nasdaq are bearish with a spike and channel pattern – the key is waiting for the next DEEP pullback so we can trap in some bulls!
Crude Oil is bullish after today’s OPEC surprise – I’m looking for a breakout back to $95, but I’ll gladly short this double-top reversal with a good signal!!
E-Mini Nasdaq (NQ):
The Nasdaq is bearish with a strong move lower today, telling us that sellers will be waiting for opportunities to short the next deep pullback off today’s low.
Keys to Success:
- Bearish Bias, Big Move Down, Spike and channel
- Sellers want to short the next DEEP pullback
- Buyers want a double-bottom reversal
E-Mini S&P (ES):
The Emini is bearish, and today’s big move lower tells us that sellers will be waiting for selling opportunities on the next deep pullback…
Keys to Success:
- What’s the most important thing affecting this market?
- What do buyers want?
- What do sellers want?
- What would a breakout look like? Could it snap back?
Crude Oil Futures (CL):
Crude Oil is bullish after OPEC hinted at a possible supply cut later this month.
Buyers have control of momentum and will look for a retest of today’s high, then up to $95 from there.
Sellers would love to get a reversal off the high and a move back to the day’s low.
Keys to Success:
- Mixed Bias, OPEC News (Reversal), Spike and channel
- Buyers want pullbacks or a breakout going to $95
- Sellers want to hold today’s high and get a reversal back to $85
