Tuesday, October 17, 2017

‘Pendulum Swing’ Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



"Only those who dare to fail greatly can ever achieve greatly."

Crude Oil is bullish and trying to re-test yesterday’s high, but a resistance trend-line standing in my way tells me to use a seller-failure on the next pullback for a buying opportunity using a ‘pendulum swing’ target tomorrow.

S&P is bullish and trading above the high of a Trading-Range, telling me to look for a "fake-out-breakout-pullback" pattern going higher, or wait for the ‘pendulum swing’ back to the low of the range and look for seller-failures to buy back up to the high.

Nasdaq is bullish with a Spike & Channel, but we’re seeing some overhead resistance telling me to stay patient for a ‘2-legged pullback’ and a trap-low for the most reliable buying opportunities tomorrow.

Gold is bearish and finished the day trading sideways, so my plan is to use the '2-Try Rule' to look for selling-opportunities using the ‘pendulum swing’ above the highs tomorrow.

Euro is bearish with a Spike & Range pattern, and the recent ‘pendulum swing’ is telling me exactly where to look for selling-opportunities tomorrow.

As you can tell, the ‘pendulum swing’ is a major component in my strategy for tomorrow, giving me both entry and exits clues ahead of Wednesday’s session.

Monday, October 16, 2017

Trade Profit for Probability | Crude Oil, Emini, Nasdaq, Gold & Euro



"Knowing which way to turn gives you self-confidence. Taking a chance and going the opposite way gives you a chance to see what you are made of."

Crude Oil is bullish and trying to re-test today’s high, but I have reason to believe the sellers are going to try and reverse this trend, so I’m going to wait for them to fail for some buying opportunities tomorrow morning.

S&P is range-bound with a bull bias, which means I’m looking for seller-failures using the '2-Try Rule' below the low of the range tomorrow.

Nasdaq is bullish with a Spike & Channel, so I’m looking for a ‘2-legged pullback’ into the ‘battle zone’ for buying opportunities tomorrow.

Gold looks bearish at first glance, following the reaction to some news headlines late this afternoon, but looking closer at the chart and we can see this as a great buying opportunity setting-up for tomorrow.

Euro is bearish with a Spike & Range pattern, telling me to focus on failures up above the high of the range tomorrow, while avoid traps below the low.

Thursday, October 12, 2017

Battle Zone Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro Day Trading



"Confidence comes not from always being right but not fearing to be wrong."

Crude Oil is bullish and heading back inside of yesterday’s range, so my plan is to use traps and seller-failures below the moving-average for the most reliable buying opportunities on Friday.

S&P is bearish and looking for rotation back down to the range low, where we will use the ‘battle zone’ to find buying opportunities going back to the high.

Nasdaq is bullish, but two major clues on the chart tell me to use the '2-Try Rule' down in the ‘battle zone’ for the most reliable buying opportunities on Friday.

Gold is bullish, but a flat moving-average tells me to watch for a triangle pattern on the chart, which means I’m looking for buying opportunities down in the ‘battle zone’ to finish the week.

Euro bearish with a Spike & Range, telling me use the '2-Try Rule' to find selling-opportunities above the highs of the range tomorrow.

Wednesday, October 11, 2017

3 Steps to Trading with a Triangle | Crude Oil, Emini, Nasdaq, Gold & Euro



"Remember where you have been and know where you are going. Life is not a race, but a journey to be savored each step of the way."

Crude Oil is bullish with a triangle pattern, telling me to look for seller-failures using the '2-Try Rule' down in the ‘battle zone’ tomorrow ahead of the weekly inventory report.

S&P is bullish with a strong move back to the highs today, which tells me to look for a ‘2-legged pullback’ and another leg higher before the sellers try and fade this move back down into the range tomorrow.

Nasdaq is bullish and just about to hit the target from last night's newsletter, so rather than trying to buy into resistance, my plan is to look for a ‘2-legged pullback’ and another move back up again tomorrow.

Gold is bullish and just inches away from hitting the target we discussed in last night's newsletter, so we’re too close to buy more now, waiting for “bear traps” to keep buying more tomorrow.

Euro is bullish with a wide channel, which tells me the most reliable buying opportunities will be after a ‘2-legged pullback’ down to the lows tomorrow.

Crude Oil Day Trading Strategy
Crude Oil is bullish and trading sideways inside a triangle, which is traded like a range.

Any time we see a triangle on the chart, the plan is to buy the low, sell the high, avoid the middle, and focus on failures tomorrow morning.

My plan is to look for seller-failures down below the range low, following with buyer-failures above the range high, while avoiding trades around the prior day high.

Don’t forget, the weekly inventory report is scheduled for 11am EST tomorrow morning, so watch the clock, and those support and resistance levels!

Crude Oil API S/R Levels for Thursday:
52.00, 51.68, 51.36, 51.04, 50.72, 50.40

E-Mini S&P Day Trading Strategy
E-Mini S&P is bullish and trading just above the high of the weekly trading range, telling us to use the '2-Try Rule' to look for both buying and selling opportunities tomorrow.

The bulls had a nice strong run higher today, and that strength going higher tells me that buyers will most likely give it one more try on the next ‘2-legged pullback’.

My plan is to wait for that ‘2-legged pullback’ and look for buying opportunities going back up to re-test the prior day high.  Im watching a pullback to the triangle pattern that developed earlier this morning.

At the same time, we have to remember that this is the high of the weekly range, which means sellers are going to be watching for the '2-Try Rule' to sell back down to the lows.

My goal is to find buying opportunities on the way up to the 2nd try, and then watch to see how the price-action reacts from there.  Selling back into the range if they fail, or looking for continuation up to the measured-move if they can hold the breakout.


E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bullish with a Spike & Channel pattern, just inches below the target from last night's newsletter.

The bulls have control, but we’re too high to keep buying because this is where we should be taking profit on the trades from earlier today.

My goal for tomorrow is to look for buying opportunities using “traps” until we re-test yesterday’s high, then start looking for a ‘2-legged pullback’ and a re-test of the measured-move later in the session tomorrow.

Gold Day Trading Strategy
Gold is bullish and trying to finish the move back up to re-test yesterday’s high after pulling-back into the ‘battle zone’ we identified in last night's newsletter.

The buyers have control, but we’re a little too close to the target to be looking for buying opportunities here because this is where we expect to see buyers taking profit, and sellers trying to sell back down again.

My plan for tomorrow is to look for “bear-traps” on the way up to the high, and if we can push through that resistance, I will be looking for a "fake-out-breakout-pullback" pattern for continuation up to the 1300 round number and measured-move targets waiting overhead.

If price keeps moving higher, focus on traps, and keep an eye out for a Spike & Range, such as a bullish triangle pattern tomorrow.

Euro Day Trading Strategy
Euro is bullish with a wide bull channel and short-term Spike & Channel as it tries to push its way through the highs from last week’s Trading-Range.

The bulls have control, but trading at the high of this channel tells me there will be more reliable buying opportunities down at the lows.

My plan for tomorrow is to look for a ‘2-legged pullback’ back down into the ‘battle zone’ where I can look for the specific entry trigger to get in long with a target back up to re-test the high.


If price keeps pushing higher, im watching for the possible “triangle” into a range-bound market while looking for “Traps” to keep buying low.

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Tuesday, October 10, 2017

Momentum Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“Trading is a game of probabilities and pattern-recognition that can be won by anyone who is willing to invest the time to learn the business, develop the skills, and maintain the trader's mindset.” – Joseph James

Crude Oil is bullish and trading at a major resistance level, but with such strong momentum moving higher, I’m looking for buying opportunities after a ‘2-legged pullback’ and a target back to the high.

S&P is bullish and trying to finish rotation back up to the high of the range, but the lack of open space above us tells me to focus on “Traps” to finish off the target tomorrow.

Nasdaq is bullish and rotating off the low of a Spike & Channel, but a key location on the chart tells me to wait for sellers to try and fail once more before grabbing more buying opportunities tomorrow.

Gold is bullish and trading at the low of a Spike & Channel, but the momentum of the market going lower tells me to wait using the '2-Try Rule' before buying more tomorrow.

Euro is bullish with a Spike & Channel, but we have major resistance levels coming in overhead, so my plan is to look for traps and seller-failures to avoid buying too high on Wednesday.

We’re talking about Momentum on the charts this evening, with lots of strong momentum giving us big trading opportunities for Wednesday’s Session…

Thursday, October 5, 2017

Non-Farm Payrolls & Reversal Line Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“A common trait among successful people is that they have friends who expect them to keep improving, and they challenge them to keep redefining the defining of success.”


Crude Oil is bullish with a Spike & Channel, telling me to look for a re-test of the high, but a key level from yesterday’s session is telling me to wait for a seller-failure before buying more tomorrow.

S&P is bullish after running higher this morning, and a Spike & Channel is telling me to look for a ‘2-legged pullback’ for more buying opportunities tomorrow.

Nasdaq is bullish and trying to finish channel rotation, which tells me to prepare for three (3) possible trading scenarios tomorrow.

Gold is bearish with a measured-move and channel rotation, telling me to look for selling-opportunities after a ‘2-legged correction’ off the lows tomorrow.

Euro is bearish with a Spike & Channel, and my plan is to look for selling-opportunities using the reversal-line and the ‘battle zone’ tomorrow.

We had some BIG moves in today’s session, we have some BIG news (Non-Farm Payrolls) tomorrow morning, and we have some big trading opportunities using those reversal-lines on the chart for tomorrow.