(3) 10x Pullbacks to Get PAID on Friday!
OMG, what a move today!!
Big moves on the chart always get me excited for tomorrow because the setups are so predictable. The key is knowing what to look for – so keep these (3) pullback trades on your radar to finish the week strong!!
Wow – both Emini and Nasdaq made huge moves today, which tells us to be ready for (2) specific trades coming tomorrow…
What’s up with Crude Oil? Something’s missing from tonight’s chart, and that “missing piece” tells us exactly where the best trades are tomorrow…
It’s been a helluva week – let’s go finish in the green!
E-Mini S&P (ES):
Big move lower says expect a deep pullback tomorrow!
Bears have control of the Emini with a massive run lower to finish today’s trading session, reminding us that anytime we see such a big move in one day, the following day is often a range or a deep pullback.
Sellers would love to sell pullbacks up around the ‘Battle Zone’, or above a trading-range that develops tomorrow.
Buyers have to be careful right now, especially before sellers get a chance to retest the lows. Buyers can wait for a double-bottom reversal, or if they’re lucky, a 123-Reversal going higher.
Keys to Success:
- Big move down today says to expect a range or deep pullback
- Sellers want to sell the bounces ahead of a retest
- Buyers want a double-bottom reversal, beware predicting reversals
- If price continues lower, sellers will wait for a bounce
E-Mini Nasdaq (NQ):
Three legs lower says a range is likely tomorrow!
Bears have control of the Nasdaq with a strong, three-legged move lower today. Anytime we see a move this large, we know that sellers will be waiting patiently to sell into any decent pullbacks off the lows.
Sellers will be looking for entries up around the ‘Battle Zones’ tomorrow, as well as selling buyer failures above any new trading-ranges.
Buyers need to stay patient for a double-bottom reversal, or 123-Reversal on strength. Don’t let a strong bounce higher fool them into buying the reversal until we see a retest of the low.
Keys to Success:
- Big move lower today says sellers need a deep pullback
- Sellers can sell both ‘Battle Zones’
- Buyers will look for reversals after a retest of the low.
- If price goes lower, beware next support zone, sell into bounces
Crude Oil Futures (CL):
Crude Oil looks confused trading sideways!
Crude Oil is trading back and forth inside a range today, but that big failure off the high never completed the rotation back to the lows, suggesting buyers may be gearing up for another run higher.
Ranges make the plan pretty simple. Buy low and sell high with failures, looking for proof of a breakout along the way.
Sellers will be looking for shorts off range highs, along with breakouts going lower.
Buyers will look for entries off range lows, along with breakouts going higher.
Keys to Success:
- Trading-range says buy low, sell high, focus on failures
- Buyers want to buy lows and bull breakouts
- Sellers want to sell highs and bear breakouts
- Bull breakouts seem harder than bear breakouts
