“The Difference Between Success and Failure lies within the story you’re telling yourself.”
Crude Oil is bearish and trying to finish rotation back up to the $50 round number, and a spike & channel is telling us exactly where to be looking for trading opportunities tomorrow.
S&P is bullish and trying to re-test yesterday’s high, but one small channel on the chart tells us to wait for a pullback, and one BIG clue from earlier this week reminds us not to chase the market higher.
Gold is bearish, but we have four (4) reasons to wait for a bullish correction before selling more tomorrow.
Euro looks bullish at first glance, but three (3) clues on the chart tell us we’re most likely due for a move back to the lows tomorrow.
FDAX is bearish and trying to re-test the low of the range, but we have two important levels of support standing in the way tomorrow.
Crude Oil is bearish and trying to rotate up to the high of the spike & channel where we assume there will be sellers waiting for a move back down to the lows. Sellers will be looking for trading opportunities up above in the ‘battle zone’, but we may not make it that far because of this trend-line overhead, so keep an eye on a buyer-failure on the next pullback as well for a move back down to the lows.
E-Mini S&P is bullish and trying to re-test yesterday’s high, but this recent move higher has been so strong that we assume most buyers will be waiting for a pullback, which we will be looking for down in the ‘battle zone’ tomorrow. If you’ve been watching this newsletter with me this week, you know that the S&P has been great for ‘selling high’, so we expect to see more of that tomorrow, which why you don’t want to buy high, focus on buying the dips up to yesterday’s high, and then we take it from there.
Gold is bearish and trading at the low of the channel, right on top of the 1200 round number. The sellers have control, but they will be wise to look for selling-opportunities up at the highs, rather than trying to force the move lower from there. Our plan for tomorrow is to look for a move up off these lows so we can sell the high of the channel and the ‘battle zone’ tomorrow.
Euro is bearish and trying to finish off an overshoot to the opposite side of this bull channel after the buyers went a little too far, too fast earlier today. The buyers had a great opportunity to buy low, but they clearly aren’t interested, which is now giving the sellers the confidence they need to start looking for traps and failure up above in the ‘battle zone’ tomorrow.
FDAX is range-bound and trying to finish rotation back to the low tomorrow, but a rising support trend-line appears to be keeping the sellers away from the middle, so the plan is to look for selling-opportunities up around 12,000 tomorrow using traps and failures for a move back down to re-test the low.
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