5 Best Patterns for Non-Farm Payrolls | Crude Oil, Emini S&P, Nasdaq, Gold
Tomorrow is the first Friday of December, which usually means the Non-Farm Payroll report is the big news of the trading session…
But a last-minute change in the schedule has another big news report due out around the same time, which has me scrambling to get everything ready before tomorrow’s opening bell, and I want to make sure you’re prepared with me – are you ready?
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Crude Oil is sideways and treading water ahead of tomorrow’s highly-anticipated OPEC announcement, due out just before the US Session begins…
And since the bulls and bears are “balanced” inside a range, the plan is relatively simple; buy low, sell high, avoid the middle, and focus on failures!
E-Mini S&P is bullish into a narrow trading-range, which is a big clue going into Friday’s session, because the narrower the range, the larger the breakout needs to be, in order to give us a decent risk-reward ratio on the trade…
Knowing this, I'm waiting for that deep pullback off the highs, and looking for a “nested” failure pattern for the entry going back to the highs.
Nasdaq is bullish and also inside a narrow range, telling me to wait for a deep pullback before I try buying the lows tomorrow morning…
And speaking of a pullback, we haven’t seen one yet this entire week! Which makes me assume that even the deepest of pullbacks will be seen as a buying opportunity (with the correct entry set-up of course) on Friday morning…
Gold is range-bound and sideways, which is typical before the Non-Farm Payroll report, and it tells me to focus on failures, buying low and selling high tomorrow morning…
But one thing I need to keep in mind for tomorrow is; we still haven’t re-tested the highs from earlier this week, which tells me to look for a 2-try breakout..
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