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Avoid the Fake-Out Breakout - 3 Simple Trading Patterns
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Can the Emini S&P and Nasdaq continue this record-breaking run? Can Oil finally hold this bullish reversal? Can Gold breakout of the weekly range?
No matter which market you're trading tomorrow morning, sideways ranges have played a major role in our trading this week, which means we need to have a plan for trading breakouts on Thursday morning…
Because whenever there are breakouts, there will be head-fakes and failures, with plenty of opportunity for a patient trader to take advantage, but only if you have the right plan of attack – are you ready?
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Learn my Favorite Trading Strategy with My Free Trading Course:
Become a Member and Join the Trade Room:
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Crude Oil is bullish and trading up at today’s high, which isn’t a reliable place to start buying, so I'm going to wait for either a breakout or a pullback tomorrow morning…
If I get the breakout, I'm looking for a 2-Try Trap entry going long, and if we get the pullback, then I start looking for seller-failures below the moving-average.
E-Mini S&P is bullish and testing the high of a spike & channel, just a few points above today’s trading-range, which is considered major resistance…
So instead of trying to predict this breakout, I'm going to wait and see if the buyers can hold the next pullback and look for entry off the low of a new channel...
But if we get the pullback off these highs, then I'm looking for a seller-failure pattern to buy off the low of this spike & channel.
Nasdaq is bullish with a wedge that’s getting narrower with every new candlestick, which tells me to expect a deep pullback off these highs for a reliable buy going back to re-test the high…
But how far will the Nasdaq pull back? Because a shallow pullback will be trader differently than a deeper pullback, and I want to make sure you’re ready.
Gold is bearish and stuck in the middle of a trading-range and expanding triangle pattern, which tells me to buy low, sell high, and focus on breakout failures…
And since the bears have control, I'm focused on fading the bull breakouts with failure patterns, and buying the bear breakouts with nested failure patterns.
--------------------
Watch More Videos on our Trading Blog:
--------------------
Trading Psychology Videos:
--------------------
Contact the office for more information:
800.381.2084
Skype: Megan.James12345
----------------------------------------------
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.
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No matter which market you're trading tomorrow morning, sideways ranges have played a major role in our trading this week, which means we need to have a plan for trading breakouts on Thursday morning…
Because whenever there are breakouts, there will be head-fakes and failures, with plenty of opportunity for a patient trader to take advantage, but only if you have the right plan of attack – are you ready?
--------------------
Learn my Favorite Trading Strategy with My Free Trading Course:
Become a Member and Join the Trade Room:
-----------------------------------------
Crude Oil is bullish and trading up at today’s high, which isn’t a reliable place to start buying, so I'm going to wait for either a breakout or a pullback tomorrow morning…
If I get the breakout, I'm looking for a 2-Try Trap entry going long, and if we get the pullback, then I start looking for seller-failures below the moving-average.
E-Mini S&P is bullish and testing the high of a spike & channel, just a few points above today’s trading-range, which is considered major resistance…
So instead of trying to predict this breakout, I'm going to wait and see if the buyers can hold the next pullback and look for entry off the low of a new channel...
But if we get the pullback off these highs, then I'm looking for a seller-failure pattern to buy off the low of this spike & channel.
Nasdaq is bullish with a wedge that’s getting narrower with every new candlestick, which tells me to expect a deep pullback off these highs for a reliable buy going back to re-test the high…
But how far will the Nasdaq pull back? Because a shallow pullback will be trader differently than a deeper pullback, and I want to make sure you’re ready.
Gold is bearish and stuck in the middle of a trading-range and expanding triangle pattern, which tells me to buy low, sell high, and focus on breakout failures…
And since the bears have control, I'm focused on fading the bull breakouts with failure patterns, and buying the bear breakouts with nested failure patterns.
--------------------
Watch More Videos on our Trading Blog:
--------------------
Trading Psychology Videos:
--------------------
Contact the office for more information:
800.381.2084
Skype: Megan.James12345
----------------------------------------------
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.
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