Head & Shoulders Trade | SchoolOfTrade Newsletter 03/02/16
Crude Oil is bullish but hanging by a thread this evening after the sellers failed to reverse the news which gives the bulls an opportunity to hit some targets overhead, but they better not fail because sellers will be waiting. E-mini S&P is bullish this evening but the bulls completed their measured-move just inches away from the channel highs which gives the potential for an undershoot and a big correction lower before we get another buying opportunity tomorrow. Gold is bullish but trading at the highs of a multi-day channel which tells us to look for buyer-failure for a sell off the highs tomorrow, but we have to wait for the proper trigger for entry. Euro is bullish after the sellers tried twice and failed at the range lows which tells us to look for rotation back to range highs before looking for a sell off the highs.
