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“The trouble with not having a goal is that you can spend your life running up and down the field and never score.”
Notes for Tonight’s Newsletter:
We have an exciting week ahead of us… Crude Oil is bullish coming off the range-lows, while E-Mini S&P is stuck in the middle of the range. Gold is rotating back and forth inside a narrow range while the Euro is setting-up for a beautiful buying opportunity off range-lows… are you ready for tomorrow?
Crude Oil is trading at the lows of a $5 range this evening and buyers appear to have held the lows for the short-term. Our plan is to follow this move higher looking for short-term buying opportunities to complete the AB=CD back to the middle of the range while watching for buyer-failure and selling opportunities because this market feels HEAVY!
E-mini S&P is trading sideways in the middle of the long-term range this evening which tells us exactly where the high-percentage trades will be found... at the highs and lows. Our plan is to stay PATIENT to find failures at the highs and lows with the goal of trading the market back into the middle of the range.
Gold is range-bound and bullish in the short-term as price rotates from lows up to the highs of the range. Our plan is to look for VERY short-term buying opportunities to test the range-highs and hold a runner to the AB=CD resistance before looking for selling opportunities at highs of the range to bring it back down.
Euro is trending higher with a short-term trading-range, and when we overlay the channel and volume-profile it appears we have excellent buying opportunities near the lows of the channel, lows of the range, after a minor pullback before we go higher!
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