My 3 Favorite Trades for Friday

One day left before the holiday weekend, let’s make it count!

Markets are ‘range-bound’ going into Friday’s session, which means I’ll be trading breakouts and failures to finish off the week… I have a handful of really great setups on my radar, let me show you…

E-Mini S&P (ES):

E-Mini Keys to Success:

• We’re bullish into a range this evening, and even after sellers got their short off the high, buyers were still able to hold the pullback and prevent the market from collapsing back into the range from yesterday.
• Buyers will be looking for breakouts going higher, while sellers will be looking for short off range highs.

Best Trades for Tomorrow: 

• Sell a nested failure off the highs
• Sell a bounce reversal off the highs
• Buy a bull breakout to new highs.

E-Mini Nasdaq (NQ):

Nasdaq Keys to Success:

• Buyers have done a great job at defending this bull trading-range but they haven’t been able to make any new highs, which means sellers are likely waiting as we push higher.
• Sellers will be looking for short off range highs, while buyers will be looking for breakout opportunities.

Best Trades for Tomorrow:

• Sell the nested failure off the highs
• Sell the bounce reversal off the highs
• Buy the bull breakout to new highs

Gold Futures (GC):

Gold Keys to Success:

• Market turned into a bear spike and channel today with a small trading-range at the lows, which will likely be a magnet for sellers tomorrow morning.
• Sellers have control, so they’ll be looking to short the highs of this channel with the goal of going back to the lows.
• Buyers need to stay patient for a 123-Reversal to get momentum back on their side.

Best Trades for Tomorrow:

• UP – nested failure to sell, 123-breakout to buy
• DOWN – 2-legged pullback to sell, 2-try trap to sell
• SIDEWAYS – wait for the new range, buy low, sell high.