Trade OPEX Like the Pros; Best Entries for Friday
We’re heading into OPEX Friday tomorrow morning which means our window of trading opportunities will be smaller, and we’ll need to stay patient for the best entries…
Speaking of entries, we’re still using the same trading-ranges from earlier in the week, and our plan will remain the same; sell above the range with buyer failures and buy below the range with seller failures, adjusting our entry setups based on momentum and location…
The only real wild-card for tomorrow is this pending COVID Relief Plan, which is expected to be announced sometime this evening, which may send shockwaves through these markets overnight…
But not to worry, I have the charts prepped and the plan is ready no matter what they throw at us going into OPEX. Are you with me? Let’s get started, I’m excited to finish the week with a bang!
E-Mini Keys to Success:
- Bears looking for another pendulum swing back to range lows.
- Sellers looking to short the bounces or ride momentum lower.
- Buyers need proof with a breakout, or wait to buy off the lows.
Best Setups for Tomorrow:
- (UP) – Buyer failures to get short (or) 123-Reversal to get long
- (DOWN) – 123-breakout to get short (or) Nested Seller failure to get long
- (SIDEWAYS) – sit on hands, wait for a breakout
Crude Oil Keys to Success:
- Bulls have control with a strong rotation back to range highs
- Major resistance says beware getting long on the pullback
- Better risk-reward ratio looking for the short side
- Sellers need to wait for buyers to fail
- Buyers need wait for sellers to fail
Best Setups for Tomorrow:
- (UP) – Nested Buyer failure to get Short (or) 123-breakout to get long
- (DOWN) – Nested buyer failure to get short (or) Bear-trap to get long
- (SIDEWAYS) – Wait for new range, buy low, sell high with failures.
Gold Keys to Success:
- Range keeps acting as price-magnet
- Sellers keep shorting the pops, avoiding the middle.
- Buyers trapped around the range highs
Best Setups for Tomorrow:
- (UP) – Nested Buyer failure to get short (or) 2-try trap to get long
- (DOWN) – 123-breakout to get short (or) crown reversal to get long
- (SIDEWAYS) – Sit on hands, short the pops at resistance trend-line
