Trading Breakout Failures; Which Entry Pattern Works Best?
We’re seeing nothing but range-bound markets on the charts tonight, which means the plan for tomorrow is rather simple; buy low, sell high, and focus on breakout failures around the edges of the range… let’s go!
E-Mini S&P Looking for Another Bull Breakout…
E-Mini S&P is bullish and range-bound heading into Thursday’s session, and with the bulls in firm control of momentum, my plan is to buy breakout failures below the range or a 123-breakout to new highs tomorrow morning.
- Buy the hidden channel support with a 2-Try Trap
- Buy below the range using a breakout failure pattern
- Sell the resistance highs using a crown reversal pattern
Crude Oil Digging Its Way Back to Recent Highs…
Crude Oil is bullish and trying to retest a major high at 41.63 on Thursday; we finished today’s session with a strong spike higher, and I’m looking to get long off the lows of a channel using a 2-try trap pattern…
- Buy the low of the bull channel with a 2-Try Trap entry
- Buy below the range at support using breakout failures
- Avoid Selling the high because of the rising support trend line
Gold Buyers Looking for Another Pendulum Swing…
Gold is bullish and sitting in the middle of today’s range; my goal is to find breakout failure setups at key support levels below the range, such as 1808 and 1804 tomorrow morning.
- Buy below the range using breakout failure patterns at support
- Sell above the range using a crown reversal pattern at resistance
- Avoid the middle of the range
