Thursday, May 18, 2017

Triple-Witching Trading Strategy | Crude Oil, Emini, Gold, Euro, FDAX

“Stay committed to your goals, but flexible in your approach.  Life will always try to challenge your resolve, but with a positive attitude and a firm belief in yourself you can accomplish anything you set your mind to.”

Crude Oil is bullish… but a recent failure to re-test the highs is telling us the stay patient for a deep pullback before we buy more tomorrow.

S&P is bullish… and a recent ‘2-legged pullback’ into a support level is setting-up for a great opportunity for the bulls to ‘buy the dip’ on the way back to last week’s low target on Friday.

Gold is bearish… but some easy clues in the candlesticks are telling us to look for a Spike & Channel or wedge tomorrow… and focus on selling retracements up at resistance levels for a measured-move target below.

Euro is bearish… but a recent overshoot tells us to look for a deeper correction higher… which may easily turn into a trend-reversal for the bulls tomorrow.

FDAX is bullish with a target up at last week’s low… but we have two resistance levels standing in our way… so we’re waiting for a pullback tomorrow.

Crude Oil Trading Strategy
Crude Oil is bullish with a Spike & Channel and trying to finish the move up to $50 tomorrow… but this recent failure to re-test the high is creating overhead resistance… telling us to look for buying opportunities down at support levels tomorrow.  The prior day high is a big clue on this tonight… seeing the bulls try and fail to push higher this afternoon… which in most situations tells us to look for a deep pullback to attract more buyers tomorrow.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish and trading with a ‘2-legged pullback’ off the highs into a rising support trend-line… which is making for an excellent opportunity for the bulls to ‘buy low’ going into tomorrow’s session.  If the bulls can hold this pullback… the target is most likely the prior week low on Friday.

Gold Trading Strategy
Gold is bearish after finishing the session with a strong move lower… but the wicks on the bottom of the candles make us wonder if we’re developing into a wedge or Spike & Channel tomorrow.  No matter how you look at it… we’re certainly too low on the chart to sell right now… so the plan is to sell retracements tomorrow with a target at the measured-move.

Euro Trading Strategy
Euro is bearish… but a recent overshoot of the Spike & Channel… combined with the quadruple-down to finish the session makes this a horrible place to look for selling-opportunities.  The plan for tomorrow is to wait for a second leg higher… selling at resistance… while watching for a possible trend-reversal and a re-test of today’s high if the bears are unable to hold the resistance levels overhead.

FDAX Trading Strategy

FDAX is bullish and trying to re-test the prior week low… but this measured-move resistance is standing in our way… so the plan is to look for buying opportunities after a pullback off these highs and try to hold a runner up to the prior week low to finish off the week tomorrow.

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