This DT Reversal Could be Biggest Trade of the Week!!
Oh boy, here we go again!
Eminis are range-bound, and Crude Oil’s trending higher – they both have plenty of trades to look for, but my favorite on BOTH are these double-top reversals!
Emini and Nasdaq are bearish into ranges – I’m expecting a breakout running lower, but I’m praying we get this double-top reversal first!
Crude Oil is bullish with a strong run higher today – I’m looking for a deep, 2-legged pullback to “buy the dip” then finish the day with a double-top reversal!
With major news tomorrow morning, you don’t wanna miss these!
E-Mini S&P (ES):
The Emini is trading back and forth inside a wide range, and sellers are currently trying to complete their rotation back to the lows.
Keys to Success:
- Range rotation from high to low
- Sellers want to sell resistance above the range & breakouts thru the lows
- Buyers want to buy support levels below the range & breakouts thru the high
- Breakouts are easy without a lot of strength because we have major highs and lows just outside this range.
E-Mini Nasdaq (NQ):
The Nasdaq is bearish and rotating off the high of today’s trading-range.
Keys to Success:
- Bearish as we rotate off the highs
- Sellers want to sell resistance above the range, or breakouts going lower.
- Buyers want to buy support below the range, or breakouts going higher.
- Beware breakouts because we have major levels above/below this range.
Crude Oil Futures (CL):
Crude Oil is bullish with a large run higher today, suggesting that either a range or deep pullback will be coming next.
Keys to Success:
- Strong bull run, buyers will be looking for pullbacks
- Large move in one day usually means a range the following day
- Buyers want to buy the dip, or buy below a new range.
- Sellers want a double-top reversal, or 123-Reversal going lower.
- What would a breakout look like? Could it snap back?
