Put those 2 clues together and you get the recipe for the perfect SNAP BACK setup to finish the week!
Emini and Nasdaq are range-bound going into Friday and we’re filtering the SNAP BACK trade based on the 60minute momentum…
E-Mini S&P (ES):
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Emini is bearish with two ranges on the chart, telling us to expect price to rotate back and forth between the two. The plan is to buy low, sell high, and trade the rotation back and forth.
E-Mini Nasdaq (NQ):
(Click on image to enlarge)
Nasdaq is bearish into a range, so the plan is to trade the rotation back and forth – buy low, sell high, and focus on failures around the edges of the range.
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Nice trade.