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):
(Click on image to enlarge)
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
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