Markets are heading into one of the most challenging times of the year – the end of the First Quarter – and with a handful of WIDE RANGES on our charts, we know momentum, and the proper entry patterns, will be the key to our success on Tuesday. --------------------
Learn the Patterns with My Free Trading Course:
-----------------------------------------
Crude Oil is bullish into the high of a wide trading-range this evening, which tells me to expect another leg higher before looking to sell it down again later in the session.
Knowing this, I have to respect the likelihood of sellers waiting above these highs, which means the most reliable buy set-ups will come with seller-failures off the high.
E-Mini S&P is range-bound and trading at the highs, which tells me to look for selling opportunities using the buyer-failure pattern to send price back down to re-test the lows.
And remember, once back to the range lows, the plan switches to buying the lows using the same pattern, except in the opposite direction.
Nasdaq is trading sideways with a WIDE range on the chart, which tells me to expect a WIDE '2-Try Rule' before I can start confidently selling this market back down to the lows.
Furthermore, if these buyers can get a successful 123-Breakout, we have the potential for a massive short-covering rally back to re-test last Friday’s high!
Gold is bullish with a strong run higher, finishing just ahead of a major resistance level overhead.
Knowing this, I want to buy, but I don’t want to get caught chasing the market higher, so I'm going to wait for a deep pullback and look for buying opportunities using a seller-failure pattern instead.
Euro is bullish into a narrow trading-range this evening, which tells me that finding a good risk-reward-ratio is going to be the key to buying this market tomorrow morning.
Going further, I need either a DEEP pullback off these highs, or a strong 123-Breakout to new highs before I can start looking to buy this market.
--------------------
Read the FULL Transcript of this Video & Download Today’s Charts:
--------------------
Trading Psychology Videos:
--------------------
Become a Member and Join the Trade Room:
--------------------
Contact the office for more information:
Sales@SchoolOfTrade.com
800.381.2084
Skype: Megan.James12345
----------------------------------------------
Economic News:
Please remember that economic news, both scheduled and un-scheduled will increase volatility and decrease liquidity in the market in the short-term, which causes price-action to react inconsistently with the levels of support and resistance mentioned in this video. Trading during economic news reports is dangerous and highly discouraged, no matter what your level of experience.
PLEASE DO NOT TRADE DURING TIMES OF MAJOR ECONOMIC NEWS
----------------------------------------------
Joseph James, SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or trading advisers. The services and content provided by SchoolOfTrade.com and United Business Servicing, Inc. are for educational purposes only, and should not be considered investment advice in any way. U.S. Government Required Disclaimer - Commodity Futures Trading Commission. Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. cftc 4.41 These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or-over-compensated for the impact, if any, of certain market factors, such as liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.
0 Comments