Video Length: 00:44:25

Welcome back to the action, this time for the first week of October…

The first week of the month is usually pretty exciting, and we didn’t waste any time getting started with big moves lower on the Eminis and a big pop higher on Gold…

The Eminis are both bearish, and I’d like to short resistance levels above today’s range. But look closely – there’s a support trend-line coming up below us, which has me thinking – is it too early to start looking for a reversal?

Gold is in a similar situation, but we’re bullish – I’ll be looking for longs off support levels below the range, but with last week’s range still lingering below us, I’d be a fool to ignore the possibility of a reversal going lower…

How do we buy it? Sell it? Trade the reversals? I’ll cover all the details in tonight’s video. 

E-Mini S&P (ES):

(Click on image to enlarge)

E-Mini Keys to Success:

• Bears took price lower into a trading-range today.
• Sellers will be looking for shorts at resistance above the range, along with bear breakouts going lower.
• Buyers can look for entries after a reversal, or they can buy support levels down below the range lows.

Best Trades for Tomorrow: 

• UP – buy the bull breakout going back to Monday’s highs.
• DOWN – sell the buyer failure (or) buy the seller failure off range lows.

E-Mini Nasdaq (NQ):

(Click on image to enlarge)

Nasdaq Keys to Success:

• Bears took price lower into a trading-range today.
• Sellers are looking for shorts at resistance levels above the range, or breakouts going lower.
• Buyers can buy support levels below the range, or they can buy the breakout

Best Trades for Tomorrow: 

• UP – buy the 123-Reversal
• DOWN – sell the buyer failure (or) buy the seller failure of range lows

Gold Futures (GC):

(Click on image to enlarge)

Gold Keys to Success:

• Sloppy session today, but ended with buyers in control with a range.
• Buyers will be looking for entries at support levels below the range, or breakouts going higher to complete a measured-move.
• Sellers need to be patient and wait for momentum to turn before they look for shorts going back to the lows.

Best Trades for Tomorrow: 

• UP – buy the bull breakout
• DOWN – buy the seller failure (or) sell the 123-Reversal
• SIDEWAYS – sit on hands and wait for a breakout.