Monday, May 18, 2015

Tuesday’s Trading Strategy | Day Trading Crude Oil, Gold & Euro Futures 05/18/15

“You want to know my secret for success?  Success is achieved when you seek out your weaknesses and turn them into strengths.” 

Notes for Tonight’s Newsletter:

We have plenty of trading opportunities waiting for us on Tuesday; Crude Oil is trading in a wedge, Gold is pulling-back to key-support levels, and the Euro is trying to test the bull-channel lows… are you ready for tomorrow?

Crude Oil 
Crude Oil is trading in the middle of a price-wedge this evening so our plan is to buy the lows, sell the highs, and stay away from the middle of this range for the easiest trading opportunities on Tuesday.

Gold is bullish, trading inside multiple bull-channels and making new highs in today's session.  We are looking for buy opportunities up-to the measured-move highs, and we will use support levels below us as well as pullbacks if we push higher off the channel-lows.

Euro is bullish in the long-term but cycling off the channel-highs with a short-term bear-channel which will likely result in prices trying to push to the lows of the long-term channel.  We can see additional 'range-expansion' support at 1235 where we will easily get our best buying opportunity near the channel-lows.

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