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Notes for Tonight’s Newsletter:
Crude Oil and S&P are bearish while Gold and Euro are in a perfect position for some fireworks; We got exactly what we wanted today… and tomorrow is setting-up to be another profitable trading session…are you ready?
Crude Oil is bearish and gave us a perfect selling opportunity off the highs of the bear-flag which means we now expect prices to rotate back to the lows of the channel. Sellers will look for buyer-failures on the way down to the lows, and buyers will look for seller-failures at the range-lows for buying opportunities.
E-mini S&P is bearish and trading inside a range; Sellers will be looking for opportunities to sell the range-highs with buyer-failures and reversal patterns while the buyers will stay patient to wait for this move to test the lows of the range and use seller-failures to buy the lows.
Gold is bullish and at the lows of the bull-channel after today’s pullback off the recent highs; Buyers are in a perfect position to start buying once again and our plan is to use seller-failures at resistance levels overhead on our way back to test the highs at 1169.1.
Euro is bullish with a bull-flag showing the AB=CD correction off the highs; Buyers are looking for trades using seller failures at resistance levels above and keeping an eye on the best place to buy at the lows of the channel.
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