“The tragedy in life doesn’t lie in not reaching your goal. The tragedy lies in having no goal to reach.”
Notes for Tonight’s Newsletter:
Crude Oil is range-bound still trading inside the same range we saw last week so our plan will remain very similar; One big clue we see on today's chart is the failure from the sellers early this morning which tells us the pendulum is likely going to swing aggressively in the opposite direction tomorrow. We have rotate targets up at range highs and again at the next range-expansion level up at 42.76 and 44.25. Remember, nothing is written in stone, so watch closely if they fail to rotate to the highs at 42.76 because that will signal the same thing in the opposite direction.
E-mini S&P is range-bound with a bull-bias this evening so our plan is to use range-rotation and the '2-try-rule' to look for opportunities as price rotates from high down to low tomorrow. The big push higher last week gives us the bull-bias and the sellers are currently trying to rotate price back to the lows of the range, which we will be watching closely because if they fail we then have reason to believe this price is going to shoot thru the highs, so rotation is our main focus before we do anything tomorrow morning.
Gold is range-bound with a bear-bias this evening so our plan is to use range-rotation and the '2-try-rule' to catch buyers and sellers on the wrong side of the market. The big push lower ended in a very narrow trading range which is now seeing almost perfect 'rotation' from high to low and it looks like the sellers are trying to test the rotation target at 1064.8 but if they fail we will be looking for the pendulum to swing in the opposite direction up to 1074.1 and possibly 1077.2 as the buyers react to the seller's weakness.
Euro is range-bound with a bull-bias this evening after we saw the sellers recently try and FAIL to move lower, telling us the buyers are likely to take this price higher. Today's trading-range started off a bullish move higher so there is already a bullish-bias to the range, and then the sellers tried to test 1.0595 and failed by 1-tick which means the 'pendulum swings' back in the opposite direction to targets above at 1.0667 and 1.0691.
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