This *BULL TRAP BOUNCE* is my Favorite Trade for Tuesday!!
Back to work – big week ahead!
Everything’s bearish going into Tuesday, but with price sitting on major lows, the key will be “selling the bounces”…
But not just any bounce… keep these (2) areas on your radar because they’re ripe for bull traps tomorrow morning!
Emini and Nasdaq are bearish, but sitting on major support – I’d love to short a breakout, but I’ll be waiting for these “bull traps” on the next bounce!
Crude Oil is bearish with a “pop and grind” running lower, telling us this “hidden channel” is the perfect place for another round of selling tomorrow!
E-Mini Nasdaq (NQ):
The Nasdaq is bearish and trying to finish a pendulum-swing rotation off today’s high.
Keys to Success:
- Bear Bias, Strong Move lower, Range rotation off the high
- Bears want entries off resistance above the range, or a breakout lower.
- Bulls want a reversal off the low, or a breakout higher on strength
E-Mini S&P (ES):
The Emini is bearish and just completed its pendulum-swing off the high. Now we wait to see if we get a reversal higher, or a breakout lower.
Keys to Success:
- Bear Bias, Strong Moves Lower, Range rotation
- Bears want entries off resistance above the range, or breakouts lower
- Buyers want a reversal off today’s low, or a breakout higher.
- What would a breakout look like?
Crude Oil Futures (CL):
Crude Oil is bearish with a “pop and grind” move lower, telling us that sellers will be looking for shorts off the high of that channel!
Keys to Success:
- Bear bias, Strong Move Lower, Range Rotation, Pop and Grind
- Bears want entries off channel high and range high, or breakouts lower.
- Bulls want a double-bottom reversal, or breakout higher
