This *FAKE-OUT BREAKOUT* Could Easily 10x on Non-Farm Payrolls!!
Biggest news of the week tomorrow – you ready?
Markets are range-bound ahead of tomorrow’s Non-Farm Payrolls and I’m looking for “bad news is good news” to give us the perfect “fake-out breakout”!!
Emini and Nasdaq are bullish with ranges – I’m watching for a breakout after news tomorrow, but this ‘fake-out breakout’ is my favorite!!
Crude Oil is bearish sitting on major support – I’d love to short the next bounce off these lows, but I’ll be watching for this “pop and grind” breakout too!
E-Mini Nasdaq (NQ):
The Nasdaq is bullish and trying to rotate back to the high of today’s range.
We can assume sellers will be looking for shorts off these highs, while buyers look for a breakout.
Keys to Success:
- Bullish Bias, Range with Rotation off the low.
- Buyers want a breakout higher, or buy support below range low
- Sellers want a reversal off the highs, and a breakout lower.
E-Mini S&P (ES):
The Emini is bullish with buyers trying to retest today’s high.
Ranges act like magnets, so we expect sellers to short the highs while buyers look for a breakout.
Keys to Success:
- Bullish Bias, Range with Rotation off the low.
- Sellers want entries off range highs, and breakouts to new lows
- Buyers want a breakout higher, or bears traps below
Crude Oil Futures (CL):
Crude Oil is bearish with sellers retesting today’s low.
We’re sitting at major support, telling us that sellers will expect a strong bounce off these lows, then look for shorts back to retest those lows.
Keys to Success:
- Bear Bias, $88 support, Strong bear move
- Sellers want to short the next decent bounce off lows
- Buyers want a reversal off today’s low.
