Turn Failures into Breakouts with Momentum Swings

We’re back to our desks for a new week, new month and lots of trading opportunities on our radar for Tuesday’s trading session…

All of our favorite markets have Spike & Ranges on the chart tonight, which means I’m looking for buy setups below the range with the goal of trading the momentum swing from failure into a breakout – here’s the game plan…

E-Mini S&P Buyers Want the “Sweet Spot” Pullback…

E-Mini S&P is bullish into a Spike & Range pattern, which tells me to look for seller failure patterns below the range at key support levels, such as the “sweet spot” at the base of a Spike and channel.

Crude Oil Buyers Waiting for a Deep Pullback…

Crude Oil is also bullish into a Spike & Range pattern, which tells me to look for buy setups below the range, but momentum is much stronger for the bears, which reminds me to wait for a “nested” failure pattern instead.

Gold Buyers Looking for a Momentum Swing Off the Low

Gold is bullish into a multi-day trading-range which tells me to keep looking for buy setups below the range, but with a pendulum swing coming down off the highs, I’m looking for a momentum swing off the lows from seller failure into bull breakout on Tuesday morning…