Crude Oil is currently expanding the wedge lows this morning and this is going to potentially cause price to continue to fall. I am looking to sell this market further down as we expand the bottom side of this range. Once we confirm the wedge low I will then start looking for bounce trades long from the lows, but as we are still unconfirmed I will be holding off on buying.
The Euro has created a confirming swing wedge high at 1.3707, now we just need to see it be retested to solidify that level and we can begin looking to REALLY sell those highs. As we are falling here we are entering another buy zone that overlaps the cloud. I am looking to buy short term here up to retest the wedge high at 1.3707 or a bit above that level.
Gold is currently creating tighter and tighter wedge highs and continues to not fall. We have now entered into a buy zone which overlaps the cloud. I am looking to buy this market up in the short term to the wedge highs but overall I am looking to sell down for a test of the BMT at 1301.1 for a first cross test as we have yet to test it from the top side.
The Russell continues to expand the wedge highs and keeps hammering away at the highs. It seems like every day we are tagging and creating record highs. As we have the wedge high expanding and unconfirmed, I am looking to buy this market higher up as we continue to expand these highs of the wedge. Once we confirm and retest the wedge highs, I will start to look short, but shorts for now are VERY high risk. Come join us in the room and see how we do it!