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"I don't think life is about the “I-could-have-been”. Life is about the “I-tried-to-do”. I don't mind the failure but I can't imagine that I'd forgive myself if I didn't try."
Notes for Tonight’s Newsletter:
Crude Oil, E-Mini S&P, and Gold are all bearish this evening, while the Euro is grinding its way higher with the potential for failure. These markets are moving well this week and we have plenty of trading opportunities for tomorrow… are you ready?
Crude Oil is bearish after buyers failed to break the 50%-Range resistance which tells us to look for selling opportunities back to re-test the range lows at $44.00. After we test the lows we will be watching closely to see WHO wins the battle at range lows!
E-mini S&P is bearish after buyers tried twice and FAILED off the highs which is now rotating back to the range lows and the phantom trend-line around 1925.00. The recent bear-channel-overshoot and measured-move tell us to expect a bullish correction before the next leg down.
Gold is bearish after sellers successfully broke the lows of last week's range, but we are oversold at the lows of the channel and combined with the measured-move and volume profile we want to stay patient for price to push higher before we sell it again.
Euro is bullish as we rotate from the lows up to the highs of the range, but the buyers need to keep this price moving higher or it will collapse back into the short-term range below and back into the volume-profile back down at the lows!
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