Expansion Trade Set-Ups | Crude Oil, Emini, Nasdaq, Gold & Euro

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I’m seeing a lot of tiny trading-ranges on the chart tonight, which tells me to look for entries and exits using those “expansion” levels tomorrow morning.
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Crude Oil is looking bullish after the sellers failed to re-test this morning’s lows, which tell me to look for a short-covering rally tomorrow morning.

Knowing this, I need to get into that rally QUICKLY, or wait for a deep pullback to the low of a Hidden Channel.

E-Mini S&P is range-bound with a triangle pattern, which is tells me to fade the breakouts – buying low, selling high, and using the 2-Try Failure pattern.

Nasdaq is also range-bound with a triangle pattern, but the SIZE of the range is the big clue, which tells me the momentum of these bears is going to have me focused on a “nested” 2-Try Failure pattern buying off the lows.

Gold is bearish at first glance, but with the sellers trying twice, followed by a sharp rally higher, my gut tells me these sellers are ready to quit.

Knowing this, my plan for tomorrow is to look for buying opportunities – either at the support trend-line coming up from below, or with traps on a short-covering rally.

Euro is bullish after a strong 123-Breakout, which tells me to look for buying opportunities at the low of a Hidden Channel…

But look closely and you can also see some prior resistance levels that I can use as key support in combination with that channel low for a reliable place to look for buy set-ups on Wednesday morning.
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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
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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 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.

Comments

TheStrossicro says:

Which period moving average did you use on the oil charts?

Joseph James says:

Why are expansion levels so important? Because the best way to trade ranges and channels is to look for entries that are just a bit outside the extremes because it gives you the opportunity to "Risk Small to Earn Large!"

3hunnna mannn says:

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3hunnna mannn says:

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