My Favorite SetUps for Friday
Friday’s trading session is only a few hours away, and with strong trends on the Eminis, and trading-ranges on the Gold and Crude Oil, the plan looks rather easy…
But with a lot of news still pending for Friday, anything is possible, and I want to make sure you’re ready for everything Friday might throw at us – are you ready?
Crude Oil Buyers are Waiting for Their Shot…
Crude Oil is bullish into a trading-range, which tells me to buy the low of the range using a seller-failure pattern…
And if the buyers try to go higher, we have major resistance waiting overhead, which would be perfect for a crown reversal pattern to sell off the highs.
E-Mini S&P Buyers Need to PROVE Themselves Here…
E-Mini S&P is bullish and trading right at this morning’s “trade deal” highs, which isn’t a very reliable place to start buying…
A better plan would be to wait for a 123-Breakout, and then buy the pullback to the low of the hidden-channel…
Or even better, wait for the buyers to try buying the next pullback and sell into their stops for a reversal off the high!
Nasdaq Smells Like a RANGE – Do You See It?
Nasdaq is bullish and trading at today’s high, which is a horrible place to get long, so I’m going to wait for PROOF of this market confirming higher and then look to buy a seller-failure from there…
And let’s not forget all the resistance waiting overhead, because the better set-up might be the crown reversal instead, especially if the bulls get too over-confident trying to buy breakouts…
Gold Has Resistance Levels STACKED and Waiting…
Gold is bearish into a trading-range, which tells me to look for sell setups using key resistance levels overhead, and I can see a cluster of resistance up around the 77 level overnight…
So all we need is to see a small rally higher, then wait for the counter-trend buyers to try (and fail) so we can sell into their stops for a run back down to the low.
“Any time you sincerely want to make a change, the first thing you must do is to raise your standards. When people ask me what really changed my life, I tell them that absolutely the most important thing was changing what I demanded of myself. I wrote down all the things I would no longer accept in my life, all the things I would no longer tolerate, and all the things that I aspired to becoming.”
