Thursday, June 22, 2017

Battle-Zone Trading Strategy | Crude Oil, Emini, Gold, Euro, FDAX



“Success is a state of mind. If you want success, start thinking of yourself as a success and the rest will follow.” - Joseph James


Crude Oil is bearish and trying to re-test yesterday’s low, but the lack of follow-thru from the bears tells us we need to stay patient and look for the proper confirmation up in the ‘battle zone’ tomorrow.

S&P is range-bound, so we’re focused on failures using the '2-Try Rule' to buy the low, sell the high, and avoid the middle tomorrow.

Gold is bearish and rotating back to the high of the channel, where we will be looking for a ‘2-legged correction’ to sell back down to the low tomorrow.

Euro is bearish with a channel ‘overshoot’ which tells us to look for selling-opportunities up at the highs of the channel for a re-test of the low tomorrow.

FDAX is bearish with a Spike & Range pattern, telling us to sell the high of the range using failures and the '2-Try Rule' tomorrow.


Crude Oil Trading Strategy
Crude Oil is bearish and trying to re-test yesterday’s low, and this recent Spike & Range coming off the highs tells us to look for traps and failures up above most resistance swing-high.  

One thing to keep in mind for tomorrow is the fact that we did get a strong move off the high, which would normally give us enough momentum to send this price back to the low, but you can see that the sellers never officially made new lower-lows, which tells us there is potential this may be nothing more than a deep pullback off the high for the bulls to ‘buy the dip.’  

The key will be how the price-action reacts up in the ‘battle zone’.  Any weakness from the bulls will have the sellers attacking, but strength thru the ‘battle zone’ will likely result in a re-test of the measured-move.

E-Mini S&P Trading Strategy
E-Mini S&P is still range-bound and trading at the low of the range, which tells us to use range ‘rotation’ to look for buying opportunities back up to the high.  The plan is to focus on failures tomorrow, using the '2-Try Rule' to buy the low, sell the high, and avoid the middle.

Gold Trading Strategy
Gold is bearish with a big overshoot of the channel, which tells us to expect a rather large ‘2-legged correction’ above the highs before we find reliable selling-opportunities back down to re-test the low.  

We’re also watching the prior week low, which may act as a price-magnet tomorrow as we finish up the week.

Euro Trading Strategy
Euro is bearish and trading at the low of a channel, which tells us to look for selling-opportunities up at the high of the channel, trying to include the triangle resistance level, with a target back down to yesterday’s low.

FDAX Trading Strategy

FDAX is bearish with a Spike & Range, which tells us to look for selling-opportunities up above the range, and avoid the fake-out breakout at the lows as the sellers try to re-test last week’s low to finish the week.

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