These *FAKE-OUT BREAKOUTS* Could Be EASY Money on Wednesday!
OMG, are you seeing these ranges?
Markets are trading inside multiple ranges this week, telling us to “trade the rotation” back and forth…
But let’s hope for a breakout, because these ‘fake-out breakouts’ could be the easiest money you make all week!
Emini and Nasdaq are rotating between two ranges right now, so my goal is to trade the rotation, but keep an eye open for one of these four breakout patterns too!
Crude Oil is bullish into a range, but with buyers failing their breakout higher, it looks like sellers will look for another leg lower! Hurricane? What hurricane?!
E-Mini Nasdaq (NQ):
The Nasdaq is bearish and trading at the lows of the weekly range, suggesting that sellers need to breakout lower, or price will rotate back to today’s high.
Keys to Success:
- Bear Bias, Strong move lower, two trading-ranges, Support below
- Bears want a breakout lower, or a reversal off the high
- Bulls want a breakout higher, or a reversal off the low
E-Mini S&P (ES):
The Emini is bearish with two ranges on the chart, suggesting that price will try rotating back and forth as it tries for a breakout.
Keys to Success:
- Bear Bias, two trading-ranges, Open space below
- Bears want a breakout lower, or a reversal off the high
- Bulls want a breakout higher, or a reversal off the low
Crude Oil Futures (CL):
Crude Oil is bullish into a range, but buyers failed a breakout and now sellers are looking for a pendulum-swing rotation back to today’s lows.
Keys to Success:
- Bear Bias, Range rotation, Hurricane!
- Bears want a breakout lower, or a reversal off the high
- Bulls want a breakout higher, or a reversal off the low
