Tue, 11 / 2021 5:24 pm | admin

We continue seeing range-bound markets into this third week of March, and with some strong bullish headwinds, I’m gearing up for buying opportunities below the range and breakout opportunities through the highs…

But there are a handful of price levels on these charts that I don’t trust, so I’m looking for additional confirmation before I trade them.
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Crude Oil is bullish into a trading-range, which tells me to stay patient for buying opportunities below the range using seller-failure patterns for entry.

Knowing this, if the market does try to breakout higher, I have enough room overhead to look for a buying opportunity on the way up to the measured-move.

E-Mini S&P is bullish, but I don’t trust buying into the highs of today’s range, which tells me I need to either wait for a pullback or wait for the breakout.

And don’t forget, if we do get that breakout, it’s going to take threading the needle to find an entry before the measured-move, so it would be wiser to wait for the pullback and look for the double-top instead.

Nasdaq is bullish and hunting for a re-test of today’s high, but looking closer at the chart and it’s hard to trust buying right at last week’s range high, right?

Instead, I’m looking for buying opportunities near the low of that range, or waiting for a successful breakout-pullback up to the measured-move target.

Gold is range-bound with a slight bull bias, which tells me to look for buy set-ups using seller-failures below the trading-range.

The challenge is, I don’t trust buying this breakout higher because we clearly saw it fail earlier today, so I’m waiting for a STRONG run higher before I look for the trap set-up to the measured-move target overhead.

Euro is bullish and trying to get re-test today’s high, but we’re right about last week’s high and I just don’t trust buying at these levels.

Instead, id rather wait for a deep pullback and buy the lows, or wait for a strong leg higher and buy the trap near the low of the Hidden Channel.
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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.
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.

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