Take Advantage Of ‘Hidden Traps’ On Friday

Gold Futures (GC):

Gold Keys to Success:

  • Bears took control early in the session with a strong measured-move going lower, but they couldn’t hold control into the close, giving buyers the momentum with a 123-Reversal off the moving-average.
  • Buyers would love to ride this reversal back into the weekly range (magnet) in the middle of the chart.
  • Sellers do have a lot of momentum on that recent move lower, but they’ll need the buyers to try and fail a few times before they can get short going back to the lows.

Best Trades for Tomorrow:

  • [UP] – 2-try trap to buy
  • [DOWN] – trap into seller failure to buy (or) nested failure to buy
  • [SIDEWAYS] – wait for the range to develop, then buy below it using failures.

 

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