Trading with *Hidden* Channels; Best Pullbacks for Thurs
Our favorite markets finished today’s session up at their highs, but more importantly, they finished on strength, which suggests that buyers are looking for another leg higher on Thursday…
The problem is – I don’t want to buy the highs, I need to wait for a pullback, and I have my eyes on the lows of three hidden channels – do you see them? Let’s get started…
E-Mini S&P Trying to Push Through Weekly Highs…
E-Mini S&P is bullish and trading at weekly highs; I don’t want to buy the high, so I’m waiting for a deep pullback to get long off the low of a hidden channel using a seller failure pattern.
- Buy the Low of the Hidden Channel with Seller Failures
- If Range – buy below the range using breakout failures
- Watch for 123-Breakout to New Highs, Buy Pullback to Hidden Channel low.
Crude Oil Spike & Channel Makes the Plan Easy…
Crude Oil is bullish into a spike and channel pattern; the strength of this recent run tells me to expect another leg higher, and I have my eyes on the “base” of the spike and channel for the best entries on Thursday.
- Buy the Low of the Hidden Channel with Seller-Failure Patterns
- Buy the Low of the Spike & Channel with Trap Entries
- Buy the 123-Breakout at the low of the new Hidden Channel
Gold Continues to Show Strength at These Highs…
Gold is bullish and trying to complete a triple measured-move; the bulls have shown us remarkable strength at today’s high, but rather than trying to trade the breakout, I’d rather wait and buy the pullback to a new hidden channel.
- Buy the 123-Breakout at the low of the new hidden channel
- Buy the breakout with a 2-try trap pattern going higher
- Buy below the range using a seller failure pattern
