Thursday, May 25, 2017

Holiday Trading Strategy | Crude Oil, Emini, Gold, Euro, FDAX



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Crude Oil is bearish and hunting for last week’s low, but a wedge on the chart is telling us to watch for a ‘2-legged correction’ to ‘sell high’ tomorrow.

S&P is bullish with a Spike & Channel, but a measured-move is standing in our way, so the plan is to look for buying opportunities back at support levels below us tomorrow.

Gold is range-bound and sitting right on top of the prior week close, so the plan is to focus on failures, selling high, buying low and avoiding the middle tomorrow.

Euro is range-bound with a bear bias, so the plan is to sell above the highs using the '2-Try Rule' tomorrow.

FDAX is range-bound, so the plan is to buy low, sell high, avoid the middle, and focus on failures tomorrow.


Crude Oil Trading Strategy
Crude Oil is bearish with a wedge this evening as the sellers try to re-test the prior week low (it’s amazing how far this market has moved in less than a week).  The bears had a strong run lower, but this wedge is getting narrow, so the plan for tomorrow is to look for selling-opportunities up at resistance levels overhead for a target back to the lows.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish with a Spike & Channel, but this measured-move is telling us to avoid buying into resistance and look for buying opportunities down at the low of this possible range tomorrow, with a target back to the highs.  One thing that stands out is the prior week high, which will act like a price-magnet, telling us to look for a possible deep pullback off these highs that will likely give the sellers a big opportunity to reverse the trend.

Gold Trading Strategy
Gold is range-bound and sitting right on top of the prior week close, which is always an important price-magnet as we go into the end of the week.  The goal for tomorrow is to sell high, buy low, and focus on failures until we see a successful breakout-pullback in either direction.

Euro Trading Strategy
Euro is range-bound with a bear bias this evening, which tells us to look for selling-opportunities using the '2-Try Rule' above the highs of the range tomorrow.  One thing to keep in mind for tomorrow is the prior week high, which is always a price-magnet going into the end of the week.

FDAX Trading Strategy

FDAX is range-bound this evening, so the plan for tomorrow is to focus on failures at the highs and lows of the range until we can get a successful breakout-pullback in either direction.  One thing to keep in mind is the prior week low, which is just outside of today’s range, which will likely be a price-magnet if the bears can get a successful breakout tomorrow.

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