We got some big moves in today’s session, but it looks like we’re going to settle into some trading-ranges for Friday morning…
And any time I see ranges on the chart, I know the key to our success will be using the best entry set-ups in the best locations – are you ready?
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Crude Oil is bearish and trying to re-test yesterday’s low at 55.33, but look closely and you can see we’re back inside the range from earlier this week…
Knowing this, I want to sell the high of this range, and the best entry set-up will be a buyer-failure above the high of the range.
E-Mini S&P is bearish into a trading-range, which tells me to look for sell set-ups up above the range using the '2-Try Rule'…
And don’t forget the major support below the range, because if price tries to push lower, the best entry set-up will be a “nested” 2-Try Failure pattern going long.
Nasdaq is bearish overall, but this recent bull “spike” tells me the short-term momentum is far too bullish to try selling…
Knowing this, if the buyers can hold this pullback, the best entry set-up will be a 123-Reversal into a “hidden channel” pullback.
Gold is bearish and sitting right on two major support levels, which tells me this isn’t a very reliable place to be selling…
A better plan is to wait for a pullback, but this recent higher-low on the chart tells me that pullback is going to create a support trend-line, which opens this market up for a trend reversal going higher on Friday morning.
Euro is bearish after a wild ride in today’s session, but we’ve ended up right back in the middle of the range again, making the plan simple for tomorrow morning…
I want to buy the low, sell the high, and avoid the middle of this range, with the best entry set-ups being the 2-Try Failure patterns above and below the range.
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