Avoid these Traps on OPEX (Friday’s Plan)
We’re headed into Options Expiration (OPEX) tomorrow morning, and with the end of month just around the corner, we’re expecting tomorrow to be a busy day in the markets.
Keep in mind, we’re still seeing a lot of sideways ranges on the charts, which means I’ll be focused on trading failures, breakouts, and avoiding some obvious traps along the way. Are you ready?
E-Mini Bears are Hunting for a Pendulum Swing, Will They Get It?
E-Mini S&P is bearish into a trading-range, which means the plan is to fade the breakouts; sell above the range with buyer failure patterns, and look for 123-breakouts to get short for another leg lower…
Crude Oil Sellers Will Be Focused on Traps to Avoid Rising Support…
Crude Oil is bearish also trading sideways with a range, which tells me to get short off resistance levels above the range using failure patterns. The big challenge, however, is a support trend-line running through the middle of the range.
This reminds us to wait for bull-traps to avoid selling too low…
Gold Sellers Would Love a Full Rotation Back to the Low of the Triangle…
Gold is bearish and trading just above the high of today’s range, which is a great place to get short with buyer failure patterns. The only problem I see is a support trend-line running up the middle of the range.
Knowing this, I’d love to get underneath that trend-line and use it as resistance on a 2-legged pullback entry pattern…
