Trading Hurricanes & Fed Speeches on Thursday
Batten down the hatches! We’re headed into one of the busiest days of the week tomorrow morning; Hurricane Laura, Jerome Powell and GDP news are all in play for Thursday morning which means we need to be ready for the action.
As always, I’ve got the charts prepped and a reliable strategy for trading tomorrow’s best opportunities – let’s get started…
E-Mini S&P Likely Headed Sideways Ahead of the Fed…
E-Mini S&P is bullish with a spike and channel pattern; the strength of today’s move tells me that buyers will be eagerly waiting for the next deep pullback, but with Jerome Powell on the microphone, we need to be prepared for range trading…
Crude Oil Buyers Waiting for a Pendulum Swing…
Crude Oil is bullish and stuck inside a range; the bullish tone of this range, combined with Hurricane Laura bearing-down on the Gulf tells me to focus on the long side Thursday morning, and I have my eyes on buying below the weekly range using seller failure patterns.
Gold Buyers Waiting for a Hidden Channel Pullback…
Gold is bullish with a strong spike and channel pattern running higher; I’d love to buy the next deep pullback around the lows of a hidden channel, but with Jerome Powell speaking tomorrow morning, I need to be ready for range trading as well…
