We’re headed into Friday morning’s Non-Farm Payroll Report with a handful of ranges, but the biggest clue I see are these “four legged moves”, which tell us exactly what to look for tomorrow morning.
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Learn the Patterns with My Fr…
We’re headed into Friday morning’s Non-Farm Payroll Report with a handful of ranges, but the biggest clue I see are these “four legged moves”, which tell us exactly what to look for tomorrow morning.
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Crude Oil is bullish into a trading-range, which tells me to look for buying opportunities below the range using seller-failure patterns.
Knowing this, I’m also looking for a potential breakout to new highs, which may be an easy buying opportunity ahead of the measured-move objective.
E-Mini S&P is bearish into a trading-range, which tells me to look for selling-opportunities up near the high of the range tomorrow morning.
However, I'm also keeping a close eye on the momentum shifting as price goes higher, which may tip us off to a possible bullish reversal after the news tomorrow morning.
Nasdaq is bearish with a strong two-legged run lower today, which tells me to look for selling-opportunities up near the high of a Hidden Channel.
Considering the strength of this move lower, I'm also looking for a possible "overshoot" of today’s low with potential buying opportunities going up off the bottom if the sellers fail to hold.
Gold is sideways and range-bound ahead of tomorrow’s big news report, which tells me to stay patient for buying opportunities below the lows and selling-opportunities above the highs.
Knowing this, I need to wait for a breakout of the range and then looking for ways of buying low and selling higher until we see a successful 123-Breakout.
Euro is bearish with four legs lower, which always alerts me to watch for a trading-range.
Furthermore, if we do see a trading-range the plan is quite simple; buy the low, sell the high, avoid the middle and use the '2-Try Rule' to fade the breakouts.
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