Monday, April 24, 2017

Spike & Range Trading Strategy | SchoolOfTrade Newsletter 04/24/17



“People who fail to achieve their goals usually get stopped by frustration. They allow frustration to keep them from taking the necessary actions that would support them in achieving their desire. You get through this roadblock by plowing through frustration, taking each setback as feedback you can learn from, and pushing ahead. I doubt you’ll find many successful people who have not experienced this. All successful people learn that success is buried on the other side of frustration.”

Crude Oil is bearish with a Spike & Range this evening, and there is one (1) specific price level on the chart that we will be watching closely tomorrow.

S&P is bullish with a Spike & Range this evening, which gives us three (3) scenarios to prepare for tomorrow.

Gold started the session bearish, but two (2) clues on the chart are telling us to look for short-term buying opportunities for an overnight gap-fill tomorrow.

Euro is bullish trying to finish an easy end-of-month target, and a triangle on the chart tells us exactly where (and where not) to be trading tomorrow.

FDAX is bullish with a runaway market today, and one simple clue tells us exactly where to look for buying opportunities tomorrow.



Crude Oil Trading Strategy
Crude Oil is bearish with a Spike & Range to finish off today’s session, telling us to look for selling-opportunities up above the range high for a target going back down to re-test the low.  One thing that stands out on this chart is that we ended the session right at last week’s low, telling us that sellers completed their objective from last Friday’s big selloff, and that we need to be very careful trying to sell new lower-lows tomorrow.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish with a massive Spike & Range this evening, and the trading-range tells us to buy the low, take profit at the high, and look for a ‘2-legged pullback’ to buy a successful breakout to new highs tomorrow.    

Gold Trading Strategy
Gold is bullish with a spike & Channel after the bears tried (and failed) twice to re-test the prior month high.  This failure from the sellers, combined with an obvious spike & Channel is telling us to look for buying opportunities in the ‘battle zone’ support area and keep buying low tomorrow on the way to filling the overnight gap.

Euro Trading Strategy
Euro is bullish with a Spike & Range this evening as it tries to re-test the prior month high.  The bulls have control, but and this triangle (range) tells us to buy the lows, avoid the middle, take profit at the highs, and then look for ‘2-legged pullback’ if we see a strong breakout higher tomorrow.

FDAX Trading Strategy

FDAX is bullish with a grind-break of a bull channel that turned into a spike & Channel to finish today’s session.  The bulls clearly have control of this market; after a big “gap up” over the weekend, the bulls continued to “buy high” the entire session, finish right at the highs.  The most important clue for tomorrow is the fact that we NEVER got a decent pullback today, which tells us that a LOT of buyers are likely waiting for a correction to ‘buy the dip’, and our goal is to use support levels on the chart to look for buying opportunities with a target back up to re-test the high tomorrow.

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