This Reversal Feels Like a Trap (Here’s a Better Trade)

Last week of October, let’s make it count!

The Emini and Nasdaq are both bullish right now and I’ll be looking to trade breakouts, pullbacks and reversals (with the right setup)…

Crude Oil is bearish and looks good for a short (at first glance), but look closer at the chart and you’ll see why this reversal smells like a trap…

Don’t miss tonight’s video – ‘end of month’ is always one of the best weeks to be trading and you don’t wanna miss these trades on Tuesday…

Bulls continue to push prices higher with a strong run up and a retest of the high going into the closing bell.
Bulls have control, but we need to see a breakout to confirm this move higher, or a pullback to attract more bulls at lower prices.
Buyers will be looking for breakouts going higher, or wait to buy seller failures at support levels below us.
Sellers can look for reversals off the highs, along with entries going back into the range from late last week.

Best Trades for Tomorrow:

Bulls took price higher on strength today; price pulled back to test a previous high and buyers were waiting to buy it right back up to the highs again.
Bulls have control, but at this point we need to wait for proof of where we go next.
Buyers will be looking for breakout entries, or deep pullback entries.
We may see a range at these highs; buyers will be looking to buy support levels below that range.
Sellers can look for exhaustion reversals off the pendulum-swing resistance, or they can wait and trade the 123-Reversal going lower.

Best Trades for Tomorrow:

Buyers took control into a range today the breakout failed and price slammed lower to complete a pendulum-swing on the opposite side.
Sellers have a lot of momentum right now, but sitting at multiple support levels gives buyers a great opportunity to run this back to the highs if the sellers fail.
If sellers can break this pendulum-swing support, then we get aggressive with entries going back to the range below.

Best Trades for Tomorrow: