“Be patient with yourself. Self-growth is tender; it’s holy ground. There’s no greater investment.”
Notes for Tonight’s Newsletter:
Tomorrow is Non-Farm-Friday, so our plan is to trade around the news, then look for sustained direction afterwards. We have a plan for tomorrow's news, so stay tuned!
Crude Oil is bearish this evening with an 'overshoot' of the channel lows so our plan is to sell short after a bullish correction and buyer-failure after the news is released tomorrow morning. Buyers can look for an easy 'trap' at 45.57 on the way up to the potential overshoot target around $46.00, and sellers want to stay patient to see those buyers fail after the correction.
E-mini S&P is trading into the termination of a wedge this evening which means aggressive traders will look to fade the highs and lows while conservative traders will trade the pullback in the direction of the breakout. The key to our success tomorrow will be trade around the news, wait for the breakout, then look for PROOF after the pullback and go in the direction of the breakout using the targets above and below.
Gold continues to tumble lower this evening which means we will continue to look for opportunities to sell after bullish corrections up off the lows. The short-term range we found today will make for a great area to look for buyers to try and reverse the trend tomorrow, and we will be waiting for them to fail for the best selling opportunities after tomorrow's news.
Euro is range-bound and slightly bullish heading into tomorrow's big news event which means we will be looking for opportunities to buy support levels below us using seller failure patterns. today's low-of-day at 1.0839 would be an ideal place to buy after a bear-trap at the lows, and yesterday’s high at 1.0974 will make for an exciting target if this market reacts well to the news.
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