We had quite the volatile session today, with lots of strong “spikes” going in both directions, and don’t ignore those strong “spikes” because they’re important clues for Friday morning’s trading strategy – are you ready?
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Learn th…
We had quite the volatile session today, with lots of strong “spikes” going in both directions, and don’t ignore those strong “spikes” because they’re important clues for Friday morning’s trading strategy – are you ready?
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Crude Oil is bearish into a narrow trading-range this evening, which tells me to look for sell set-ups up above the high of the range…
And speaking of the high, we have a recent bull “spike” telling me to expect the bulls to give this another shot going higher, at which point I'll be waiting to sell it with a failure pattern.
E-Mini S&P is bullish and back inside the same range from yesterday, telling me to look for buy set-ups below the range using seller-failures…
And don’t ignore that big bear “spike” we saw earlier today, because that tells us the sellers will likely be looking for another leg lower, and if so, we’ll be waiting to buy into their stops for a short-covering rally back to re-test the highs.
Nasdaq is bullish into a narrow trading-range, telling me to avoid the middle and focus on buy set-ups below the range low…
But don’t forget that strong bear “spike” we saw earlier in today’s session, because the sellers will likely give this another try lower, and if they do, we want to wait for them to fail with a “nested” failure set-up going back higher.
Gold is bearish in the short-term but bullish in the long-term, which tells me to look at playing both sides of the market on Friday morning…
Knowing that, I'm looking to use a combination of the bear channel and the range-expansions to buy low and sell high using failure set-ups tomorrow morning.
Euro is bearish into another trading-range, telling me to look for sell set-ups above the range highs using buyer-failures…
And if price tries running lower, the only way to safely buy it is with the “nested” failure coming up off the low – b..
