Wednesday, May 10, 2017

Trading “Hidden Channels” | Crude Oil, Emini, Gold, Euro, FDAX

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Crude Oil is bullish and trying to re-test today’s high… and a recent trend-line is giving us an excellent opportunity for a ‘2-legged pullback’ tomorrow.

S&P is bullish with a Spike & Range… telling us to look for “traps” and failures down below the range… using the prior month high as a price-magnet on Thursday.

Gold is bearish with a wedge… but two (2) levels of support are telling us to use a key “reversal-line” overhead for the best selling-opportunities tomorrow.

Euro is bearish with a “hidden channel” this evening… the sellers just got rejected with lower prices, so we’re waiting for buyer-failures at the highs tomorrow.

FDAX is bullish with a channel this evening… and with this recent deep pullback off the highs… we’re looking for buying opportunities on the way back up to re-test yesterday’s high.

Crude Oil Trading Strategy
Crude Oil is bullish and trying to re-test today’s high… and this recent pullback is giving the bulls a great opportunity to use a ‘2-legged pullback’ to buy down in the ‘battle zone’ tomorrow for a big target going up to the prior month low tomorrow.  The bulls had a strong day today… with big draws on the Inventory Report… and we know the bulls would love to see another leg lower so they can “load the boat” for a move back to the high tomorrow.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish with a channel and Spike & Range this evening… telling us to look for buying opportunities at the low of the range and channel tomorrow.  One thing to keep an eye on tomorrow… this prior month high has been a price-magnet all month, and we expect to see the same situation tomorrow.  The goal will be to use that level to HELP our trades… buying below… and selling above tomorrow.

Gold Trading Strategy
Gold is bearish with a wedge and possible channel this evening as price sits on the measured-move support level.  The bears just got their measured-move… which usually means we’re going to see a ‘2-legged correction’ off the lows and a re-test of that measured-move tomorrow.  Sellers will be watching the reversal-line at 20.8 for reliable selling-opportunities tomorrow with a target going back down to re-test the low… and most likely a shot at yesterday’s low as well.

Euro Trading Strategy
Euro is bearish with a Spike & Range this evening… and with price failing to breakout to new lows, we assume that sellers are rejecting this lower price and waiting for opportunities to sell near the high of the range tomorrow.  One thing to note… the recent lower-low gives us the opportunity to use a “hidden channel” as resistance up near the high of the range… so keep an eye on buyer-failures at the highs for a target going back down to the low.

FDAX Trading Strategy

FDAX is bullish and trying to re-test yesterday’s high after the sellers tried and failed to finish yesterday’s reversal off the highs.  The bulls are coming off a deep pullback off today’s high… and the most reliable buying opportunities at this point will be using ‘traps’ to avoid buying into the high tomorrow.  Assuming price re-tests the high… we need to wait for proof of where the buyers want to go from there… either a strong breakout higher, or a deep pullback to allow buyers to keep buying low tomorrow.

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