This *TRAP* Could Be Huge Non-Farm Payday!!
Non-Farm Payrolls comin’ in HOT!
We ended today’s session in a range, and with tomorrow’s Non-Farm Payroll report, you know there’s gonna be plenty of breakout traders to “trap” on the wrong side…
Keep these setups on your radar, and be ready to run some stops!
Emini and Nasdaq are bearish into ranges tonight, and I have (3) areas on the chart where I’ll be looking for the best entries…
Crude Oil is bearish and range-bound too, and there’s an “expanding triangle” that holds the key to the easiest winners on Friday!
We’ve had a killer week, but don’t let up now – finish strong!
E-Mini S&P (ES):
Emini Races lower into a Spike and channel pattern
The Emini is bearish, and the Spike and channel pattern tells us the best entries will likely come up near the “base” this channel.
Sellers have control of momentum and they’ll be looking for entries at resistance levels just above this channel, along with breakouts going lower.
Buyers have to stay patient right now. They can look for a double-bottom reversal off today’s low, or a 123-Reversal going higher.
Keys to Success:
- Bearish spike and channel (and) range rotation
- Sellers want to sell above the channel highs, or breakouts going lower
- Buyers will look for a double-top reversal, or 123-Reversal going higher.
- Beware the bear breakout because of major lows.
- Sell into the bounces off the lows.
E-Mini Nasdaq (NQ):
Nasdaq is bearish and trading back to last week’s close!
Sellers have control of the Nasdaq, and will be looking for entries at resistance levels up above today’s range, along with breakouts going lower on strength.
Buyers need to stay patient, but they can buy a 123-Reversal going higher, or a double-bottom reversal off today’s low.
Keys to Success:
- Bearish into spike and channel & trading-range
- Sellers want to sell resistance levels above the channel
- Buyers want a double-bottom or 123-Reversal
- Breakout is open on both sides, we just proof!
Crude Oil Futures (CL):
Crude Oil is range-bound and rotating back and forth
Crude Oil is bearish with a strong run lower this afternoon, and this trading-range tells us to “trade the rotation” until we see a breakout.
Sellers have control of momentum, and they’ll look for entries at resistance levels up above today’s range, along with breakouts on the way down to last week’s close.
Buyers need to stay patient for a double-bottom reversal, or proof of a strong breakout through today’s highs.
Keys to Success:
- Range-bound market with a strong run lower.
- Sellers want to sell resistance levels above the range, or breakouts going lower on strength.
- Buyers want a double-bottom reversal, or a strong breakout to new highs.
- Bear breakout looks easy. Bulls, not so much!
