REVERSAL ALERT!! This Double-Top Reversal Could 15x Tomorrow!!
Oh boy, here we go again!!
Markets are bullish going into tomorrow’s Fed Testimony – I’ll be watching for breakouts, but my favorite trade is this double-top reversal!!
Emini and Nasdaq are bullish into ranges – yes, breakouts are on our radar, but this reversal is where the biggest gains might be tomorrow!
Crude Oil continues “The Battle of $110” – buyers have control, but signs of exhaustion have me looking for this reversal instead!
E-Mini Nasdaq (NQ):
The NASDAQ is bullish with a flag pattern which tells us buyers are looking for pullbacks off support levels and a retest of the highs.
Sellers will also be looking for a reversal off the highs, targeting weekly lows.
Keys to Success:
- Strong Bull Move & Bull Flag
- Buyers need to get a breakout-pullback above channel highs
- Sellers want a reversal off the highs
E-Mini S&P (ES):
The Emini is bullish into a range – buyers will be looking for entries off support levels below the range, or breakouts going higher.
Keys to Success:
- Strong Move retested, Range rotation off high, resistance trend-line
- Buyers want entries off support below the range, or breakouts higher
- Sellers want a double-top reversal, or 123-Reversal going lower
Crude Oil Futures (CL):
Crude Oil is bullish into a range, but buyers are struggling to hold off sellers after this pendulum-swing off today’s high.
Sellers will be looking for shorts off range highs, along with breakouts going lower.
Keys to Success:
- Rotation off the high, buyers struggling, resistance above with range below!
- Buyers need a breakout on strength!
- Sellers want a double-top reversal, or break down to weekly lows.
