The markets are setting-up with reliable chart patterns tonight, but with multiple news events all happening on the same day, tomorrow’s “Super Wednesday” session has the potential to be really GOOD, or really BAD… are you ready?
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Crude Oil is bearish into a trading-range, which tells me to look for selling-opportunities above the range, using the “range expansion” levels as key resistance.
E-Mini S&P is bearish tonight into a range as well, and I would love to find a few entry set-ups to sell off the high of this Hidden Channel because it’s lined-up perfectly!
Nasdaq is bearish into a narrow trading-range, which tells me to wait patiently for selling-opportunities above the highs.
I’m also watching for failed breakouts for the sellers too, because the measured-move target is just below this range, and id love to buy into the stops of those rookie sellers who get caught chasing the market lower.
Gold is bullish into a trading-range, which tells me to look for buy set-ups using the expansion levels below the range.
Even more importantly, I can see a prior reversal-line that was missed by a few ticks earlier today, and something tells me that level is going to be a HOT SPOT tomorrow morning.
Euro is bullish into a trading-range, but after the buyers failed their attempted breakout, the market is now swinging back down to the lows again.
Knowing this, my plan is to use the ‘pendulum swing’ to find the best levels to combine with buy set-ups on Wednesday morning.
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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.
PLEASE DO NOT TRADE DURING TIMES OF MAJOR ECONOMIC NEWS
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