Keep These Breakouts on Your Radar Tomorrow!

Lots of ranges on the charts tonight, which means we have some great breakout opportunities to trade on Thursday…

The Eminis are both bullish, but with ranges below us, and major resistance above us, I’d love to trade some breakouts (and failures) tomorrow morning…

Gold is bullish too, but look closely and you can see some big price-action clues that the short-side will be the easier side on Thursday…

Tomorrow’s the last full day of trading before the Holiday Weekend, so let’s make the most of it – are you ready?

E-Mini S&P (ES):

E-Mini Keys to Success:

• Trending Market = Continuations, Reversals, New Ranges
• We sold-off strong at the beginning of the session, but buyers were waiting to buy the dip and have slowly pushed the market back to the highs into the closing bell.
• Buyers have control, but with a range magnet below and major resistance overhead, I’ll be looking for shorts if buyers fail, and breakouts if buyers continue.

Top 3 Trades for Tomorrow: 

• UP – buy the bull breakout (or) sell the buyer failure
• DOWN – sell the reversal (or) buy the seller failure below the range
• SIDEWAYS – wait for the new range, then buy seller failures below it.

E-Mini Nasdaq (NQ):

Nasdaq Keys to Success:

• Range Market = Failures, Rotation, Breakouts
• Narrow range today, look for breakout move tomorrow
• We have a slight bear bias going into a range today, so I’ll be looking to sell off the highs using the range as a magnet, while looking for breakouts to buy new highs.
• If price pushes lower, I’ll be looking to sell breakouts going lower or buying seller failures off the lows.

Top 3 Trades for Tomorrow: 

• UP – sell the buyer failure (or) buy the breakout
• DOWN – sell the breakout (or) buy the seller failure
• SIDEWAYS – sit on hands and wait for a breakout

Gold Futures (GC):

Gold Keys to Success:

• Trending Market = Continuations, Reversals, New Ranges
• The day began inside a range, but buyers were able to claw their way higher into the closing bell.
• Buyers have control with a strong move higher, but with a range magnet below, and multiple resistance levels overhead, it’s easy to see why sellers would be interested up here.
• I’ll be looking to sell a reversal back into the range below us, or trade the breakout going higher on strength.

Top 3 Trades for Tomorrow: 

• UP – buy the bull breakout (or) sell the buyer failure
• DOWN – sell the buyer failure reversal (or) buy the seller failure
• SIDEWAYS – wait for the new range, then buy support levels below it with failures.