OPEX Trading Strategy; Best Trades for Friday
We’re headed into Options Expiration, better known as OPEX Friday tomorrow morning, which usually means lower volume and unpredictable price-action…
The most important aspect of tomorrow’s Summer Friday session is to focus on the most reliable support/resistance levels for your entries and exits; I have the perfect plan, let’s get started…
E-Mini S&P is Coiled Up Tight Ahead of OPEX…
E-Mini S&P is bearish and stuck inside a narrow range; the size of this range is the big clue, reminding me that sellers will only be looking for entries after DEEP pullbacks, so I’m staying patient and picking my spots wisely…
- Sell above the range using expanding triangle resistance
- Sell the 123-Breakout to new lows on Strength
- Buy the Crown Reversal after GAP Fill lower.
- Buy the 123-Reversal before re-testing major highs
Crude Oil Combines a Range with a Hidden Channel…
Crude Oil is bearish and trading just below the low of today’s trading-range, which isn’t a very reliable place to be selling; my plan is to wait for either a buyer failure above the range or a 123-breakout to new lows on Friday…
- Sell the high of the hidden channel above the range
- Sell the 123-Breakout into new channel on strength
- Buying is difficult because of major tops above range
Gold Sellers Waiting for the Next Deep Pullback…
Gold is bearish with a strong spike lower, successfully breaking free of today’s trading-range; my plan is to use the low of that range as key resistance and look for a 2-try trap around the high of a new hidden channel.
- Sell the High of the Hidden Channel below the range
- Sell the Spike & Channel is price grinds lower
- Buy the 123-Reversal on considerable strength
