Non-Farm Friday Strategy
We’re preparing for Non-Farm Friday, the biggest news day of the month…
And with most of our favorite markets still bouncing around inside of ranges, we know that expansions, momentum, breakouts, and entry set-ups are going to be the difference between winning and losing on Friday morning, are you ready?
Crude Oil Keeps Bouncing Back and Forth
Crude Oil is range-bound with a WIDE range, which tells me that momentum is going to play a key role in tomorrow morning’s session.
Knowing this, my plan is to fade the breakouts; buying low, selling high, and avoiding the middle with my 2-Try Failure patterns.
E-Mini S&P is Hunting for a Re-Test
E-Mini S&P is bullish and trying to finish the ‘pendulum swing’ target just overhead.
Knowing this, I don’t want to buy into the range high, so I’m waiting to see the sellers try and fail a few times before buying into the breakout.
Nasdaq is Asking for a Kick-Back
Nasdaq is bullish with a NARROW trading-range, which tells me to get OUT of this range for the most reliable trading opportunities on Friday morning.
Knowing this, I’m looking for a deep pullback, followed by a “nested” 2-Try Failure to avoid buying into the resistance trend-line coming down overhead.
Gold Completed the V-Bottom – Now What?
Gold is bullish with a V-bottom coming off today’s ECB Report, and this bullish momentum tells me to wait patiently for buying opportunities after a DEEP pullback into the battle-zone.
It’s also important to remember that tomorrow is Non-Farm Friday, which means Gold is going to be sloppy in the pre-market, so stay patient until you see clear structure and simple set-ups, like the 2-Try Breakout Pattern.
Euro is Bearish, But Will It Last?
Euro is bearish, but trading at the low of a range isn’t a good place to be selling, which means I’m looking for buying opportunities ONLY after I see the sellers commit and try twice.
And don’t forget that the trend-line coming down overhead; that key resistance reminds me to look for a bear-trap (trap low) for a more reliable entry going long.
“Today, you have 100% of your life left…Don’t Give Up on Your Dreams.”
