Trading Price ‘Rejection’

Understanding how to identify “rejection” on the chart is one of the key secrets to identifying reversals, entries, and exits – and with Crude Oil, E-Mini S&P, and Nasdaq all giving us clear signs of rejection, that’s the focus of today’s newsletter.

Crude Oil is bullish after a clear bearish rejection, but before we look to buy this market, I’m waiting on one more set-up to trigger.

E-Mini S&P is bullish after bearish rejection, and after the sellers tried (and failed) twice, it’s time to start getting serious about a short-covering rally.

Nasdaq is bullish with a 123-Reversal, but I don’t want to chase this market higher, and I’m waiting for bear-traps to get long going back to this morning’s high.

Gold is range-bound, which means the plan is to fade the breakouts using the ‘2-Try Rule’ tomorrow morning.

Euro is bullish, but look closely at the chart and it’s easy to see a big selling-opportunity for tomorrow’s session – all we need is the right entry trigger.

Crude Oil is Going Back into Today’s Range

Crude Oil is bullish, which means I want to buy at key support levels tomorrow morning.

The trading-range is another big clue because it gives me an easy target for a long set-up, I’m watching at this key support trend-line coming up from below.

E-Mini S&P is Rallying Back to This Morning’s High

The E-Mini S&P is bullish after a clear rejection off the lows into a 123-Reversal, which means I want to find a Hidden Channel for buying opportunities tomorrow morning.

If we don’t get the pullback off the high, the next step is to look for signs of a short-covering rally.

Trap patterns are going to the best way to buy this market if we get the short-covering rally running higher, and the target is up at 2655.

Learn the Strategy – Join the Free Trading Course

“There is a direct correlation between positive energy and positive results.”

Nasdaq is Ready to Run Higher

The Nasdaq is bullish after seeing rejection off today’s low.

A bull market tells me to look for buying opportunities at support levels, such as this Hidden Channel coming up from below.

But if we don’t get the pullback, then I start looking for a short-covering rally and my plan is to look for bear-traps to get in long before the target is reached at 6724.

Gold is Range-Bound (Again)

Gold is back inside a range again today, which tells me to fade the breakouts using the ‘2-Try Rule’.

The secret, remember, is to wait for the buyers and sellers to try twice outside of the range before I start looking to buy the low or sell the high using failures.

Euro is Bullish, But Take a Closer Look

Yes, the Euro is bullish, but looking closer and you can see that it is now testing the high of this major bear channel.

I want to sell this bear channel, but this momentum is just too strong, so my plan is to wait for the sellers to try twice before looking to sell back down to the low again tomorrow morning.