5 Failure Trades for Friday | SchoolOfTrade Newsletter 07/16/15
Markets are trading at their extreme highs and lows as we head into another Summer-Friday which means we are looking for FAILURES for the best trading opportunities tomorrow… are you ready? Crude Oil is bearish and trading at the lows of the range which means sellers will be waiting for a correction off the lows before trying to sell more, and buyers will be looking for seller-failures to buy these lows. E-mini S&P is bullish but overbought at the range-highs which means we are waiting for a deep correction off the highs before looking for buying opportunities and sellers will be waiting for the buyers to fail at support for selling opportunities. Gold is bearish and trading at the lows of the range which tells us to avoid selling the lows and wait for a correction higher up to the resistance levels overhead before we start selling again. Euro is bearish and oversold at the lows of the range which means buyers will be waiting patiently for sellers to fail at support levels to buy the lows, and sellers should stay patient for the buyers to try and fail before selling again.
