This ‘Head Fake’ Reversal is the 10x Trade for Wednesday!
Big day coming tomorrow, you ready?
The markets went easy on us today, but tomorrow’s gonna be harder…
Why? Because we have inflation news and multiple ranges on each chart tonight. That means lots of head fakes and plenty of ways to give back today’s gains…
Don’t get fooled into losses tomorrow, keep these trades on your radar!
Emini and Nasdaq have multiple ranges on the charts tonight, creating one big range for tomorrow. The plan is simple – buy low, sell high, and focus on trapping breakout traders making poor decisions…
Crude Oil is bearish into a range – I’d love to sell the next pullback, but there’s a curveball you need to be aware of. Don’t trade Oil until you watch!
E-Mini S&P (ES):
Emini Pumps and Dumps, ending back inside today’s range!
The Emini is bearish and trading right in the middle of today’s range, telling us to focus on trading the “edges” of the range tomorrow morning.
Sellers have control of momentum, but they need to avoid the middle of this range. Sellers will be looking for entries off range highs, along with breakouts through range lows.
Buyers can look for reversals off range lows, along with breakouts going higher. The key is avoiding the middle of this range.
Keys to Success:
- Price looks a bit “lost” treading water in the middle of today’s range.
- Buyers want to buy a reversal off the lows, and breakouts thru the highs
- Sellers want to sell a reversal off the highs, along with breakouts lower.
- Bear breakouts need to be careful into that pendulum-swing. Bull breakouts have plenty of space going back to last week’s close.
E-Mini Nasdaq (NQ):
Nasdaq rotates back and forth into a large trading-range
The Nasdaq had a wild session – jumping higher, collapsing back down, popping back up, and finally settling into the middle of today’s range.
Sellers have the overall control, and they’ll be looking for entries at the high of this range, along with breakouts going lower.
Buyers can look for entries using reversals off major lows, and breakouts going higher. The key is avoiding the middle of the range.
Keys to Success:
- Ranges at top and bottom of today’s range tell us there’s a bigger range.
- Buyers want entries off range lows, and breakouts going higher.
- Sellers want entries off range highs, and breakouts going higher.
- Sellers need to be aware of the pendulum-swing, buyers have wide open space.
Crude Oil Futures (CL):
Crude Oil trades lower before settling around the $100 Magnet
Crude Oil is bearish into a range around the psychological magnet of $100 this afternoon.
Sellers will be looking for entries at resistance levels above the range, along with breakouts going lower.
Buyers can trade reversals off range lows, as well as trading rotation back to major highs if we get enough strength on the pullback going higher.
Keys to Success:
- Bearish into a range, with a range above us.
- Sellers want to sell resistance levels above, and breakouts below.
- Buyers want a reversal off the lows, and rotation back to major highs.
- Bear breakout looks easy down to $95, but careful with bull breakouts.
