Markets are mostly range-bound ahead of major news and a holiday weekend, which means tomorrow’s session is going to be filled with opportunities to lose money…
But there’s an easy way to avoid those losses, you just need to start thinking like a professional trader – are you ready?
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Crude Oil is bearish with three legs lower, which usually means we’re going sideways the following trading day.
Knowing this, I'm gearing up to trade this as a range-bound market – buying low, selling high, and avoiding the middle at all costs.
E-Mini S&P is bullish into a triangle pattern, which always tells me to focus on trading the “edges” of the triangle pattern.
Knowing this, the best entry set-up for a triangle is the 2-Try Failure pattern, which I'm waiting patiently for as we speak.
Nasdaq is bullish into a trading-range this evening, which reminds me to avoid the middle, staying focused on buying low, selling high, and waiting for failure set-ups.
And don’t forget – don’t let a strong move lower fool you, because it’s most likely just going to complete the measured-move. Once it’s completed, then look for the short-covering rally all the way back up into the range again.
Gold is bullish into a combination of two separate patterns; a triangle, and a rectangle trading-range.
My main focus is on the rectangle range because that came first, and I have my eyes on buying opportunities down around 1270 using the ‘pendulum swing’.
Euro is bearish into a tiny trading-range this evening, which means my goal is to continue fading the bull breakouts, selling into each move higher using the buyer-failure set-up tomorrow morning.
And remember, with the ECB Minutes and the EU Elections tomorrow morning, we may be quiet on the Euro, and if so, stay patient and keep thinking like a professional!
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