“Success is doing ordinary things extraordinarily well.”
Notes for Tonight’s Newsletter:
Crude Oil is bearish after collapsing off today's high and we finished the session with a trading-range which give us great clues for the best opportunities to sell tomorrow. The most reliable trading opportunities will be SELLING tomorrow, and the best trade will be after the buyers fail to push prices higher. Look for a break higher up to resistance, and then sell into the stops as the buyers try to buy the next pullback.
E-mini S&P is bearish after it followed crude oil tumbling off today's highs, and we finished the session with a bear-flag which tells us exactly where to look for the best selling opportunities tomorrow. The most reliable way to trade a bear-flag is to catch the counter-trend buyers on the wrong side of the market either at the highs or the lows of the short-term bull-channel. After we see the buyers fail we will use the AB=CD extension for a target down to 2025.00.
Gold is bearish after a strong push lower and finished the session with a perfect bear-flag on the way back to the lows from earlier this week, which give us the info we need to plan our trades tomorrow. We have a measured-correction going into major resistance and the buyers didn’t put-up much of a fight, so now the best selling opportunities will come as buyers try to buy this pullback, and if they fail we sell into their stops with a target(s) at the support levels listed below.
Euro is bullish this evening, but after three (3) pushes higher in today's session we expect the bulls to take profit and allow the sellers to take their turn for the first half of tomorrow's session before we can look for additional buying opportunities. We can see the market-makers started the move today, the trend-followers kept it pushing higher, and the late-adopters came in to finish the move into the closing bell. Buyers need to stay patient for a bearish correction, and aggressive sellers can look for pullbacks to fail for selling opportunities off the highs, just be careful trading against this strong trend!
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