Trading a Runaway Market with Pullbacks & Reversals
Markets got off to a strong start this morning with breakout moves higher, and they never looked back, closing firmly at their highs, but we need to be careful…
It’s tempting to chase these “runaway markets” out of FOMO, or even shorting off the highs if you think it went too far…but that’s my plan…
My plan for “runaway markets” is all about patience; waiting for the right pullback entry at the right level, or grabbing the reversal when the timing is right – here’s how…
Oil Sellers Have One Thing On their Minds…
Crude Oil is bearish and trying to re-test this morning’s “gap down” lows, but we’re too close to those lows to find any decent risk/reward entries…
Knowing this, a more reliable strategy is to wait for the bounce, and then look for sell setups off key resistance levels overhead, leaving a big target down at the lows.
E-Mini Runaway Market Has Great Clues…
E-Mini S&P is bullish with a strong “runaway market” to start the week; but we’re too high to start buying at this point, I need a more reliable strategy…
My plan is to wait for buyers to take profit and look for buy setups using seller-failures off the low of a pair of hidden-channels…
Gold’s Red Hot, But Can They Hold the High?
Gold is bullish with it’s own “runaway market”, but look closely and you can see we’re way too high in this range to consider buying…
One option is to look for a “crown reversal” pattern to get short off these major highs, but the better set-up is to wait for short-sellers to get trapped and buy into their stops.
