What’s The Market Objective?

 

Markets are RED HOT going into Friday’s trading session, with most of our favorite markets going back to the market’s objective, which gives us all the information we need to formulate a reliable plan for Friday’s session.

Crude Oil just completed the market’s objective, so we’re waiting for the bulls to take profit, and looking to re-load again down at a key support trend-line.

E-Mini S&P just re-test its major resistance, and even with such a strong move higher, I don’t want to buy these highs, so I’m waiting for a pullback to the low of the channel for buying opportunities tomorrow morning.

Nasdaq is just a few inches away from completing its re-test of yesterday’s high, which means I’m looking for DEEP pullbacks for buying opportunities on Friday.

Gold is bearish and running quickly back to the range low, and my goal is to find some bull-traps for selling-opportunities before we get there tomorrow.

Euro appears to be bearish this evening, but after digging deeper, it’s easy to see this bear market might just be a beautiful buying opportunity for Friday morning.

Crude Oil is Looking Like a Range for Friday…

Crude Oil is trading right at yesterday’s high, which is considered the market’s objective, and tells me that this is too high to start buying.

Seeing the bulls taking profit off these highs, the better strategy is to wait for a pullback and look for buying opportunities using seller-failure patterns near this rising support trend-line.

E-Mini S&P Looks a Bit Too High to Buy…

E-Mini S&P is re-testing yesterday’s high, which tells me it’s a little too high to start buying this market right now.

Knowing this, my plan is to wait for a deep pullback to buy off the lows of this hidden channel and the support trend-line.

Nasdaq is Inches Away from the Objective…

Nasdaq is bullish and only a few ticks away from re-testing the high, which tells us to avoid buying into this major resistance.

1 2
View single page >> |

Disclaimer: Join our Free Trading Course. Joseph James, SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.