Take Advantage Of ‘Hidden Traps’ On Friday

Running length 00:46:38

The party isn’t over yet – we’re heading into the end of the month tomorrow morning, which means anything is possible…

 The markets were wild today, with big moves in both directions, which will have a lot of trading searching for answers on Friday morning…

 Their confusion is our opportunity to catch traders on the wrong side of momentum and use their stops as fuel for our trades…

 There are lots of hidden traps on the charts tonight, and I want to make sure you’re ready to take advantage of them. 



E-Mini S&P (ES):

E-Mini Keys to Success:

  • Wild session sends with buyers trading sideways on top of the 4200 round number.
  • Buyers will look for entries at support levels below the range, or breakouts to new highs.
  • Sellers need to take control of momentum, and even if they do, they will likely be met with more buyers near the lows of today’s range.

Best Trades for Tomorrow: 

  • [UP] – 123-breakout to buy (or) nested failure to sell
  • [DOWN] – seller failure to buy (or) 123-Reversal to sell
  • [SIDEWAYS] – sit on hands, wait to buy below the range.

E-Mini Nasdaq (NQ):

Nasdaq Keys to Success:

  • The trading-range continues to act like a magnet on the Nasdaq with a strong move up, a ‘pendulum swing’ back down, and we finish a wild session right back where the day began – wow!
  • Buyers have momentum coming off the lows, so they’ll be looking for buy setups below the range at support levels, such as the bull channel.
  • Sellers don’t have any momentum so they need to take control with a reversal.

Best Trades for Tomorrow:

  • [UP] – 2-try trap to buy (or) nested failure to sell
  • [DOWN] – seller failure to buy (or) 123-Reversal to sell
  • [SIDEWAYS] – stay patient to buy below the range with seller failure patterns.

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.

Comments

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