These Reversals Look Great On OPEX Friday

 

Are You Ready for OPEX Friday?

Fridays are usually a much smaller window of good price-action, so I want to make sure you’re ready to capitalize on the best opportunities before the weekends…

The Eminis are bearish into ranges tonight, and I have a handful of reversals (and breakouts) on my radar for Friday morning…

Gold is still bullish and trading in a range, which means I’ll be looking for breakouts, but what I really want is a reversal to short off these highs!

Lots of great opportunities in the markets tomorrow.  Here are my favorites…

E-Mini S&P (ES):

E-Mini Keys to Success:

  • Trending Market = Continuations, Reversals & new Ranges
  • We’re bearish into a range, with a strong breakout leg going lower.
  • Bears will be looking for a retest of today’s low, while buyers will try to reverse this momentum for a pendulum-swing running higher.

Top 3 Trades for Tomorrow: 

  • UP – buy the bull reversal (or) sell the buyer failure
  • DOWN – sell the buyer failure & sell the 2-try trap (or) buy the reversal off lows.

E-Mini Nasdaq (NQ):

Nasdaq Keys to Success:

  • Range Market = Failures, Rotation & Breakouts
  • Big Move today = Small Range tomorrow?
  • Bears have control into a range;  sellers will be looking for entries at resistance above the range, along with buyer failures going lower.
  • Buyers must stay patient for momentum to turn first, or wait for exhaustion reversals off the lows.

Top 3 Trades for Tomorrow: 

  • UP – sell the buyer failure (or) buy the 123-Reversal
  • DOWN – sell the buyer failure & breakout (or) buy the reversal  
  • SIDEWAYS – sit on hands to avoid the middle, wait for a breakout

Gold Futures (GC):

Gold Keys to Success:

  • Range Market = Failures, Rotation & Breakouts
  • Bullish into a range; buyers will be looking to get long at support below the range, as well as buying breakouts above the range.
  • Sellers can sell the highs with exhaustion, or they can sell the failed retest of these highs.
1 2
View single page >> |

Disclosure: This material has been distributed for informational purposes only. It is the opinion of the author and should not be considered as investment advice or a recommendation of any ...

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.