Wednesday, April 26, 2017

End of Month Trading Strategy | Crude Oil, Emini, Gold, Euro, FDAX - 04/26/17

“Any time you sincerely want to make a change, the first thing you must do is to raise your standards. Write down all the things you will no longer accept in your life, and all the things that you aspired to become… and go take action!”

Crude Oil is bearish, and we have two (2) important clues from today’s inventory report telling to look for selling-opportunities up in the ‘battle zone’ tomorrow.

S&P is bearish, but this recent strong breakout tells us to stay patient, looking for more reliable selling-opportunities up at overhead resistance levels tomorrow.

Gold looks bullish at first glance, but we’re range-bound, and our plan is to look for the '2-Try Rule' to sell back down into the range tomorrow with the properly entry trigger.

Euro is bearish and trying to re-test today’s low, but we have a key support level getting in our way before we can commit to jumping in short tomorrow.

FDAX is bearish, but this recent collapse off the highs was so strong that we need to stay patient for more reliable selling-opportunities up at a key resistance area overhead.

Crude Oil Trading Strategy
Crude Oil is bearish and after a wild ride on the back of the inventory report, we find ourselves right back to where the session began.  This strong move off the highs certainly gives the bears the edge over the bulls, but we don’t want to sell the low of this channel, so the plan is to look for a ‘2-legged correction’ up around the high near the ‘battle zone’ for the most reliable selling-opportunities back down to yesterday’s low. 

E-Mini S&P Trading Strategy
E-Mini S&P is bearish after trying (and failing) twice to re-test today’s high earlier in the session.  This move lower is quite strong, undoubtedly giving the bears an edge over the bulls, but also making it hard to find a reliable selling-opportunity down here.  Our plan is to follow this breakout, but waiting patiently for a ‘2-legged correction’ so we can ‘sell high’ tomorrow with a target at yesterday’s low.

Gold Trading Strategy
Gold is bearish after breaking the high of a trading-range this evening.  Trading-ranges are very simple; buy the low, sell the high, and avoid the middle.  With price trying to break higher, our plan is to look for the buyers to try and buy the next pullback and sell into their failure for a target going back down to the prior month high, which is acting as a magnet as we go into the end of the month.

Euro Trading Strategy
Euro is bearish and trying to re-test the low after the market tumbled lower today, but never gave the sellers any opportunities to ‘sell high’.  This strong move higher is likely the result of profit taking from the bears, and they will be looking for selling-opportunities as soon as they can get back below this key support trend-line below.

FDAX Trading Strategy

FDAX is bearish after collapsing off today’s high, and this strong move certainly gives the bears control, but we want to avoid ‘selling low’, so the plan is to look for a ‘2-legged correction’ up into resistance levels for a sell back down to yesterday’s low. 

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