Can Buyers Finish This Reversal? (Friday’s Plan)

Video Length: 00:49:05

Charts are prepped for Friday, and with momentum turning bullish off today’s lows, it looks like buyers have a great opportunity to run these markets higher on Friday morning…

The Emini is racing higher after a 123-Reversal, Nasdaq is turning off today’s lows, and Gold is sitting at the perfect place to get long below this week’s range. 

E-Mini S&P (ES):

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E-Mini Keys to Success:

• Day began as a bearish range, but a ‘pendulum swing’ off the lows sent prices racing higher back to the range from earlier this week!
• Bulls want to buy the next pullback around the lows of the new channel
• Bears want to reverse the trend back to the range from this morning.

Best Trades for Tomorrow: 

• [UP] – 2-try trap to buy (or) crown reversal to sell major resistance
• [DOWN] – seller failure to buy (or) 123-Reversal to sell
• [SIDEWAYS] – sit on hands, wait to buy below the trading-range

E-Mini Nasdaq (NQ):

(Click on image to enlarge)

Nasdaq Keys to Success:

• Bears unable to hold price below last week’s range, causing price to ‘pendulum swing’ back higher for the bulls.
• Bulls want to get into pullbacks on the way up to the ‘pendulum swing’ target
• Bears want to

Best Trades for Tomorrow:

• [UP] – 123-breakout to buy (or) crown reversal to sell
• [DOWN] – seller failure to buy (or) 123-Reversal to sell
• [SIDEWAYS] – wait to buy failures below the trading-range

Gold Futures (GC):

(Click on image to enlarge)

Gold Keys to Success:

• Range-bound market tells us to use the range as a price-magnet. Buy low, sell high, focus on failures around the edges of the range.
• Bulls want to run back to the high of the range
• Bears want to hold this momentum and breakout to new lows

Best Trades for Tomorrow:

• [UP] – 2-try trap to buy (or) buyer failure to sell above range highs
• [DOWN] – nested failure to buy (or) 123-breakout to sell
• [SIDEWAYS] – sit on hands, wait to buy low, sell high with failures