Trading the Rejection | Crude Oil, Emini, Nasdaq, Gold, Euro

We sure didn’t waste any time getting things moving in the month of August…

With the US and China going “eye-for-an-eye” in the trade war, these markets have been explosive with plenty of great set-ups…

And with big moves up/down on our favorite markets, we have plenty more set-ups coming for Tuesday’s trading session – are you ready?

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Learn the Patterns with My Free Trading Oil is sideways in a range-bound market, which tells me to buy the low, sell the high, and avoid the middle of the range on Tuesday morning.

Knowing this, my plan is to wait for an attempted breakout and then look for failure set-ups to send price back into the original range once again.

E-Mini S&P is bearish with four big legs lower today, which tells me to expect tomorrow to go sideways with a trading-range…

Knowing this, my goal is to keep looking for ways to sell as high as possible, and to do that, I'm waiting for buyers to try taking it higher, so I can sell into their failures.

Nasdaq is bearish and almost four legs down, which tells me to avoid selling this market now and wait for the opportunity to sell off key resistance levels waiting overhead…

And speaking of resistance, I'm watching a Hidden Channel, drawn off the lower-lows, and waiting to be used up at the high.

Gold is bullish with a Spike & Channel, which quickly pulled-back and shot back up to re-test the high – but the buyers got rejected up at the highs!

This rejection is a big clue, because it tells me to consider this market as a range, and focus on buying the low of the range using seller-failure set-ups tomorrow morning.

Euro is bullish with a Spike & Channel pattern, which tells me to mark the “buy zone” at the base of the channel and wait patiently for a pullback…

And as we open in Asia, its easy to see this market may keep trying to push higher, and if so, I'll just keep waiting for that pullback to give me the best risk-reward-ratio (and probabilities) as possible.

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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.