No.1 Trading Rule For Friday Morning

 

 

Momentum is playing a key role in my trading strategy for Friday morning – with Gold, Oil, and E-Minis all finishing today’s session with strong impulse moves…

 

Those momentum moves tell me exactly what type of set-ups I want to be looking for tomorrow, but Friday mornings different than other days of the week – it’s all about MINDSET – are you ready?

Crude Oil Took a Nose-Dive – Should We Sell It?

Crude Oil is bearish with a strong move lower to finish today’s session, but look closely and you can see that this move lower is right into our buy-zone from yesterday, which tells me to look for a buy setup going back to the highs…

But how can I buy into such a strong move lower?  I need the right entry pattern…

E-Mini S&P Bulls Can Smell That Pendulum Swing!

E-Mini S&P is bullish and racing up to re-test today’s high, and that momentum tells me to buy a pullback, but that puts me back in the weekly range which isn’t a reliable place to buy…

A better strategy is to wait for price to poke below the weekly range, and use a seller-failure pattern to buy it going back up to the highs.

Nasdaq Wants to Go Higher, But Where’s the Entry?

Nasdaq is bullish and trying to complete a full rotating back to the high of an expanding triangle, but we’re currently trading smack in the middle of the daily range, which isn’t a good spot to buy…

Knowing this, my plan is to wait for either a chance to buy below the range, or wait for a 123-Breakout and buy the pullback before we test the 8300 “round number”.

Gold Spike & Channel Tells Me Patience is Key

Gold is bullish and trading at the high of a spike & channel pattern, which tells me to look for buy setups below the channel, preferably under the moving average…

But my favorite place to “get long” on Friday is down at 1261.4, which is the combination of yesterday’s triangle vertex and the range-expansion support.

 

“Opportunity is missed by most people because it is dressed in overalls and looks like hard work.”

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

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