3 Pullbacks to Watch on Non-Farm Friday

Hope you’re having a great first week of the New Year!

Tomorrow is Non-Farm Friday, which means we have the biggest news of the month being released just before the opening bell, along with a smaller window of opportunity to find the best setups…

The Emini and Crude Oil are both bullish, so I’ll be looking to get long at support levels using failure patterns below today’s ranges…

On the other hand, Gold is bearish so I’ll be selling short at resistance levels above the range with bull traps.  Are you ready?  Let’s get started… 

E-Mini Keys to Success…

• Bullish into trading-range at 3800.00 round number
• Buyers have retested today’s high, closing the loop.
• Buy below the range at support levels
• Beware “rotation off the high” on the pullback entry
• Beware buying the bull breakout into the measured-move

Best Setups for Tomorrow:

• (UP) – 123-breakout long (or) Nested Buyer failure Short
• (DOWN) – seller failure long (or) 123-breakout short
• (SIDEWAYS) – buy low, sell high, focus on failures

Crude Oil Keys to Success…

• Strong bull run leaves an open-loop for the bulls
• Sideways triangle says buy low, sell high around the “edges”
• 51.22 is major resistance overhead.
• Yesterday’s range acts like a price-magnet

Best Setups for Tomorrow:

• (UP) – 123-breakout long (or) Nested Buyer failure Short
• (DOWN) – Seller failure long (or) 123-breakout short
• (SIDEWAYS) – buy low, sell high, focus on failures

Gold Keys to Success…

• Gold likely the most difficult ahead of Friday’s Non-Farm Payrolls
• Strong move from Wed gives sellers the edge
• Trading-range today says sell above highs with buyer failures
• Range above acts like a price-magnet
• Major lows and weekend GAP are support below

Best Setups for Tomorrow:

• (UP) – buyer failure short (or) nested buyer failure (or) 123-Reversal
• (DOWN) – 123-breakout short (or) crown reversal long
• (SIDEWAYS) – sell above the highs with buyer failures