Trading Non-Farm Payrolls

We’re heading into one of the biggest news events of the month tomorrow morning, and with Non-Farm Payrolls right around the corner, now is the time to get your charts ready for the action – are you ready?

Crude Oil is Red Hot – But Will This Last?

Crude Oil is bullish with a strong run higher, which tells me to prepare for one of four different scenarios on Friday morning.

And out of all the different options, I’m expecting to see a range, which would tell me to look for buy set-ups using seller-failures below the range.

E-Mini S&P is Sitting on Top of the Range

E-Mini S&P is bullish and coming off the high of a channel with a ‘2-legged pullback’, which tells me to look for a bounce and re-test of the trend-line being drawn off the highs.

I’m also watching for a possible collapse back into the range tomorrow morning, which would tell me to look for buy set-ups using seller-failure patterns just below the lows.

Nasdaq is Waiting for a Two Legged Pullback

Nasdaq is bullish and trading near the high of a bull channel, which tells me to stay patient and wait for more reliable buy set-ups down near the low of the channel on Friday morning.

And you’ll also notice that the channel is really wide, which reminds me to wait for the “nested” entry pattern for the most reliable entry into the trade.

Gold is Range-Bound (But Do You See the Channel?)

Gold is bullish into a trading-range, which tells me to look for buying opportunities at the low of the range using a 2-Try seller-failure pattern.

The real secret to tomorrow morning, however, is going to be using the low of this new Hidden Channel, which will most likely fool a lot of sellers into chasing it lower, which will give the buyers an easy edge to run it back to the highs when they fail.

Euro Failed to Re-test the High (Something’s Wrong)

Euro is bullish into a triangle, which tells me to focus on the “edges” of the triangle to find the best entry and exit points on Friday morning.

Speaking of entry points, I’m waiting for the sellers to try a breakout below the range so I can buy into the stops!

“If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them.”