TRAP ALERT!! This Bull Trap Could 10x Tomorrow!!
Back to work – time for the Snap Back!
Holiday weekends are great, not because of the time off, but because we get to trade the “Snap Back” the following week!
Crude Oil just completed it’s “Snap Back”, but the Emini and Nasdaq are still working their way there – keep this trade on your radar tomorrow!
Emini and Nasdaq are range-bound with sellers trying to complete their “Snap Back” tomorrow – watch this bull trap overhead because it could be huge!!
Crude Oil is bearish and already completed their “Snap Back” – now we wait for buyers to enter the market because there’s a trap waiting above!!
E-Mini S&P (ES):
The Emini is bearish and sitting at support levels below this afternoon’s range.
Keys to Success:
- Strong move lower to start the session hasn’t been retested yet. Buyers had their chance to run back to the “Holiday Highs” but failed.
- Sellers want entries off resistance levels above the range, or breakouts going lower.
- Buyers want to buy support levels below the range, or breakouts above Monday’s high.
- Breakouts will be easy for sellers, but resistance overhead makes a bull breakout more difficult.
E-Mini Nasdaq (NQ):
The Nasdaq is bearish with a strong move lower to start today’s session and buyers are trying to hold support levels below today’s range.
Keys to Success:
- Strong move lower to start the session wants to be retested, while buyers failed to take advantage of a great opportunity to run price back to the highs this afternoon.
- Sellers want to sell resistance levels above the range, and breakouts going lower.
- Buyers want to buy support levels below the range, or a breakout through Monday’s high.
- Bulls have a difficult breakout ahead, while sellers should be much easier.
Crude Oil Futures (CL):
Crude Oil is bearish with a strong run lower into a trading-range to finish the day.
Keys to Success:
- Strong move lower into a range, sitting at major support
- Sellers want entries off resistance levels above the range, or breakouts going lower
- Buyers want a reversal off today’s low, or a strong run back to retest today’s high.
- Bull breakout isn’t easy with all this momentum, bear breakout much easier.
