Wed, 12 / 2021 1:50 pm | admin

Most of our favorite markets are range-bound going into Friday’s session, which makes our plan very simple – buying low, selling high, and fading breakouts…

But the most significant clue I’m seeing for tomorrow is the “grinder” we found on Gold because it gives me the opportunity to play both sides of the market.
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Crude Oil is bullish, but we’re trading in the high of yesterday’s trading range, which tells me I need to wait for a pullback or look for a successful breakout.

Knowing this, if we get the pullback off the high, my plan is to wait for the sellers to try and fail so I can buy into their stops.

E-Mini S&P is bullish with a neutral triangle pattern, which tells me to fade the breakouts using failure patterns at the highs and lows of the triangle.

The goal for tomorrow, however, is to try and get the market to attempt a breakout so I can buy the low (or sell the high) using the nested failure pattern.

Nasdaq is bullish with an ascending triangle pattern, which tells me to look for buy set-ups below the triangle using the ‘2-legged pullback’.

Another option is to wait for the bullish breakout and buy into the stops of the sellers as they trade the fade the highs going back to the lows.

Gold is bearish with a strong run lower, which tells me to look for selling-opportunities after a ‘2-legged pullback’ and a re-test of the low.

But this bear channel has a “grind break” on it, which tells me I may have a shot at buying the over-extended trend and then selling it back down again later in the session on Friday.

Euro is bearish and trying to finish the ‘2-Try Rule’ just below the trading-range from yesterday, and I’m going to be looking for buying opportunities after they complete their second leg.

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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, and United Business Servicing, Inc. are not registered investment or trading advisers. The services and content provided by 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 RULE 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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