Final Friday Trading Strategy – 2 Big Obstacles
Tomorrow is the Final Friday of May, which combines the end of the week with the end of the month, and usually means a lot of great volatility…
But there’s a black cloud hanging over these markets – two big obstacles the markets need to overcome for the best setups tomorrow – here’s my game plan to finish the month strong, let’s get started…
Crude Oil Buyers Would Love a Deep Pullback
Crude Oil is bullish with a strong run to finish today’s session, which tells me the odds of re-testing today’s high are very good and I should be looking for buy setups…
The problem is the 2-legged pullback, which creates a resistance trend-line and that I need to get around before I can safely buy this going back to the highs.
E-Mini S&P Buyers Waiting for Seller Failures
E-Mini S&P is bullish and trading at the low of a range, which tells me to look for buy setups going back to the high of the range tomorrow morning…
There’s just one problem – the last pullback was very strong, telling me to anticipate another leg lower, and once completed, I’ll start looking for ways to buy into the stops of the breakout sellers.
Gold 2-Legged Pullback Looks Great
Gold is bullish and trading just below today’s narrow range, which will act like a magnet overhead, so I’m looking for ways to get long off support…
Knowing this is a range, my favorite entry setup will be a failure pattern, waiting for the opportunity to buy into the stops of the counter-trend sellers.
