May Day Trading Strategy – Five Best Setups for Friday
Don’t let tomorrow’s holiday fool you – the markets are filled with opportunity as we begin a new month of May on Friday morning…
Speaking of Friday, Gold and Emini ES are collapsing with big open spaces to run, while Crude Oil is holding strong just below the 20 target – are you ready for May Day? Let’s go!
Crude Oil Still Looking Strong into $20…
Crude Oil is bullish and trading just below the 20 level, which buyers are going to be looking for ways to “get on board” without chasing the market higher…
Knowing this, my plan is to buy traps and seller failures on Crude Oil…
E-Mini S&P Bears Using the Spike & Channel…
E-Mini S&P is collapsing into the Asian open, giving us new bear channels and new ‘Battle Zones’ to work with on Friday…
Most importantly, we have lots of wide-open space below us if the bears can hold this move lower, and a spike and channel is one pattern on my radar…
Gold Trying to Break Free of this Range…
Gold is bearish with a strong spike lower into a narrow trading-range, which tells me to look for sell setups at key resistance levels waiting overhead…
I see four possible short setups on the chart, you don’t want to miss them…
