Oil and Nasdaq are back to their weekly ranges, E-Mini S&P looks ripe for a re-test of all-time highs, and Gold is trying to pull the “Rope-a-Dope” on the trend-followers…
And don’t forget, Monday is Veteran’s Day so we gotta make every set-up …
Oil and Nasdaq are back to their weekly ranges, E-Mini S&P looks ripe for a re-test of all-time highs, and Gold is trying to pull the “Rope-a-Dope” on the trend-followers…
And don’t forget, Monday is Veteran’s Day so we gotta make every set-up count on Friday morning – are you ready?
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Crude Oil is bearish and back inside the weekly range, which tells me to buy the low, sell the high, and avoid the middle tomorrow morning.
And since the bears had such a strong move lower to finish today’s session, my goal is to sell the high of a Hidden Channel located just above the high of the range.
E-Mini S&P is bullish and setting-up for a re-test of today’s high with the potential of reaching the 3100 round number tomorrow morning.
The challenge, however, is the recent collapse off the high, which tells me to respect the momentum of the bears, while looking for the proper entry timing with a “nested” failure pattern.
Nasdaq is bearish and back inside the weekly range, which tells me to sit-on-hands and wait to either sell above the high or buy below the low…
And no matter which side we get, my focus is always on failure set-ups whenever I have a range-bound market, making sure to avoid the middle!
Gold is bearish with a strong run lower today, and at first glance it appears this market is pulling back for an opportunity to sell it short again…
But looking closer, it’s easy to see we’re sitting on major support, which tells me I need to wait for more information before I can sell this low, while I keep an eye on a possible “Crown Reversal” going back up into October’s trading-range.
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