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More Important than Entry Pattern | Crude Oil, Emini, Nasdaq, Gold, Euro



We’re getting prepped ahead of Friday’s trading session – but with multiple scenarios setting-up for our favorite markets, it’s important to remember those little clues that are MORE important than the actual entry pattern.

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Crude Oil is bearish with a strong run lower, which tells me to look for selling-opportunities at the high of a channel.

The problem, however, is that this channel is WIDE, which means there will likely be a momentum shift before we get the entry pattern to sell, reminding me to wait for a more specific entry pattern.

E-Mini S&P is range-bound with bearish momentum this evening, which tells me to look for entry patterns to sell above the range high tomorrow morning.

The challenge, however, is this rising support trend-line, telling me I need to beware selling low, and focus on selling as high as possible on Friday morning.

Nasdaq is bearish with a lazy trend going lower, which tells me I should expect a relatively deep pullback before trying to sell this back down to the lows.

Knowing this, that big move higher will likely give the buyers the edge, which tells me I need to adjust my entry set-up to absorb that momentum.

Gold is bearish with a strong run lower, telling me to look for selling-opportunities up at key resistance levels tomorrow morning.

Keeping that in mind, I’m looking for sell set-ups using the high of this Spike & Channel pattern, keeping a close eye on the momentum of this pullback because that will tell me which entry pattern will work best.

Euro is range-bound with bearish momentum going into Friday’s session, which tells me to focus on selling above the range using buyer-failure patterns.

Which reminds me, the recently trend was bullish, so I’m watching for those buyers to try and buy the highs so I can sell into their stops for an easy move back to the lows.
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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 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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Krag Ferris
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Krag Ferris

I'm trying to use your system, a smarter person would catch on quicker, but I did use the pullback and trap on LABD an ETF. wasnt sure I was using it correct, I may have gotten lucky, forgot to follow the 2 candle trail. Was just going for whole number. Index is $SPSIBI, bio etf. Hoping to make enough from the free stuff to get in your class.

Joseph James
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Joseph James

When it comes to finding the best entries, there’s a LOT of factors that are more important than the specific entry pattern you’re using.