More Important than Entry Pattern

We’re getting prepped ahead of Friday’s trading session – but with multiple scenarios setting-up for our favorite markets, it’s important to remember those little clues that are MORE important than the actual entry pattern.

Crude Oil Is Waiting for the 2-Leg Pullback

Crude Oil is bearish with a strong run lower, which tells me to look for selling-opportunities at the high of a channel.

The problem, however, is that this channel is WIDE, which means there will likely be a momentum shift before we get the entry pattern to sell, reminding me to wait for a more specific entry pattern.

E-Mini S&P is Trying to Fool Us (again!)

E-Mini S&P is range-bound with bearish momentum this evening, which tells me to look for entry patterns to sell above the range high tomorrow morning.

The challenge, however, is this rising support trend-line, telling me I need to beware selling low, and focus on selling as high as possible on Friday morning.

Nasdaq Is Lazy, Staying Patient

Nasdaq is bearish with a lazy trend going lower, which tells me I should expect a relatively deep pullback before trying to sell this back down to the lows.

Knowing this, that big move higher will likely give the buyers the edge, which tells me I need to adjust my entry set-up to absorb that momentum.

Gold Just Collapsed – Did It Go Too Far?

Gold is bearish with a strong run lower, telling me to look for selling-opportunities up at key resistance levels tomorrow morning.

Keeping that in mind, I’m looking for sell set-ups using the high of this Spike & Channel pattern, keeping a close eye on the momentum of this pullback because that will tell me which entry pattern will work best.

Euro Loves This Weekly Trading Range

Euro is range-bound with bearish momentum going into Friday’s session, which tells me to focus on selling above the range using buyer-failure patterns.

Which reminds me, the recently trend was bullish, so I’m watching for those buyers to try and buy the highs so I can sell into their stops for an easy move back to the lows.

“Knowing which way to turn gives you self-confidence. Taking a chance and going the opposite way gives you a chance to see what you are made of.”