Trading Against the Trend
The markets are still bullish, but a new batch of trading-ranges are now giving us opportunity to sell the highs, which means I need to use a specific strategy for those counter-trend set-ups on Thursday.
Crude Oil is Bullish, But Watch That Trend-line!
Crude Oil is bullish with a trading-range and a flag pattern on the chart, which tells me to look for opportunities to buy below the range using a combination of both chart patterns on Thursday morning.
E-Mini S&P is Bullish, But Where’s the Measured-Move?
E-Mini S&P is bullish, but the high of this range isn’t a great place to look for buy set-ups, so I’m watching for an opportunity to sell off the high with a counter-trend set-up going back down to re-test the range low.
Nasdaq is Range-Bound, Fade Those Breakouts!
Nasdaq is bullish and still trading back and forth inside the range, which is telling me to look for opportunity to buy the low and sell the high using my favorite failure patterns tomorrow morning.
Gold is Looks Bearish, But Not So Fast!
Gold is still bullish, but this recent pullback off the highs was so strong that I’m betting we see a lot of sellers try predicting this reversal, which is going to give us plenty of opportunity to buy into their stops when their counter-trend trades fail!
Euro is Setting Up for a Perfect Pullback!
Euro is bullish with a beautiful combination of a Hidden Channel and trading-range on the chart tonight, which tells me to stay patient for buying opportunities down near the lows of BOTH patterns on Thursday.
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