Monday, May 8, 2017

6 Ways to Trade Tuesday | Crude Oil, Emini, Gold, Euro, FDAX



“You must know that in any moment a decision you make can change the course of your life forever: the very next person stand behind in line or sit next to on an airplane, the very next phone call you make or receive, the very next movie you see or book you read or page you turn could be the one single thing that causes the floodgates to open, and all of the things that you’ve been waiting for to fall into place.”


Crude Oil is bullish and trying to re-test today’s high… but a resistance trend-line is getting in the way… prompting us to look for buying opportunities on a pullback or a successful breakout-pullback to new highs tomorrow.

S&P is bullish with a channel… but we seem to be stuck at the prior month high… telling us to look for channel rotation, but focus on traps tomorrow to avoid getting sucked back into the price-magnet.

Gold is bearish with a failed Spike & Channel… which tells us to look for selling-opportunities at resistance with a target back at the beginning of the ‘spike’ tomorrow.

Euro is bearish with a wedge… and the wedge target is only a few ticks away… telling us it’s too low to sell here… so we’re waiting for a ‘2-legged correction’ to sell more tomorrow.

FDAX is bearish with a Spike & Channel… but today’s strong move lower never gave the bears a chance to participate in this move… so we’re watching resistance levels overhead for selling-opportunities tomorrow.


Crude Oil Trading Strategy
Crude Oil is bullish and trying to re-test previous swing-highs from earlier in today’s session… but they need to work around this falling resistance trend-line first.  Today’s price-action appears to be quite methodical… rotating lower, then higher, then lower, and now back higher again… around the closing price from last Friday.  The bulls have contract at this point, and they will be looking for buying opportunities on a pullback.  If price keeps pushing higher, we want to avoid buying the highs and look for a ‘2-legged pullback’ using the resistance trend-line as support.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish and trying to re-test today’s high… but we seem to be having a difficult time with the previous month’s high.  The session opened with a big gap higher… which was quickly rejected… and it appears that buyers wanted to buy the dip instead.  Price is now rebounding with a bull channel, and our best option is to use channel rotation to buy the low of the channel tomorrow.  The one thing that concerns me is this previous month high, so look for traps below it, or a strong break higher for more confirmation tomorrow.

Gold Trading Strategy
Gold is bearish after a wild ride today… and price appears to be sitting on Double-Down support… telling us to look for ways to sell using resistance levels overhead with a target down at today’s low.  The session started with a strong Spike & Channel… but the buyers weren’t interested in buying the pullback off the highs, which quickly turned bearish and now the sellers would love to see a move higher into the ‘battle zone’ for a chance to finish a wedge target tomorrow.

Euro Trading Strategy
Euro is bearish with a wedge and possible Spike & Channel this evening… telling us to look for a ‘2-legged correction’ off the low for the most reliable selling-opportunities tomorrow.  The bears had a strong move lower today, but we never saw any traps above prior highs, so we assume there are a lot of bears waiting above those swings to avoid chasing this move lower tomorrow.

FDAX Trading Strategy

FDAX is bearish with a Spike & Channel this evening… telling us to look for selling-opportunities up at resistance levels overhead with a target going back down to re-test today’s low… and possibly yesterday’s low as well.  The bears had a strong move lower to start today’s, but if you look closely, they never really had an opportunity to “sell high” … and we’re watching the overhead resistance trend-lines for selling-opportunities tomorrow.

===========================================================
Learn the Strategy & Join the Trade Room; Click here to register for the Free Trial

No comments:

Post a Comment

Thank you for your comment! Your comment will be reviewed and posted asap, thank you for your patience.