Thursday, June 1, 2017

Non-Farm Payroll Trading Strategy | Crude Oil, Emini, Gold, Euro, FDAX

“The meeting of preparation with opportunity generates the offspring we call luck.”

Crude Oil is bearish and collapsing off today’s high… so the plan is to look for a Spike & Channel with traps and failures above the moving-average for selling-opportunities on Friday.

S&P is bullish with four (4) legs higher today… which always tells me to watch for profit-taking and look for a deep pullback off the highs the highs for the most reliable buying opportunities tomorrow.

Gold is bullish…but we’re coming off a ‘spike’ to finish the session… so the plan is to wait for a ‘2-legged pullback’ off the highs for a possible re-test of yesterday’s high.

Euro is bearish and trading inside a range… which tells us to look for traps and failures up at range highs for the most reliable selling-opportunities tomorrow.

FDAX is bullish…but look closely and you can see this is nothing more than the first attempt to break out of this range… so we’re waiting for an opportunity to ‘fade the breakout’ back into the range tomorrow.

Crude Oil Trading Strategy
Crude Oil is bearish after collapsing off today’s high with a strong spike lower… telling us to look for a Spike & Channel tomorrow… and more specifically… selling-opportunities using a ‘2-legged correction’ off the lows.  Sellers are most likely hunting for yesterday’s low, but we will also keep an eye on a measured-move that may develop as well.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish and trading at the high of its range after 4 legs higher today, which tells us this price will likely be considered ‘too high’ to buy in the short-term… so we’re looking for an opportunity to buy a pullback to support levels tomorrow.  The most reliable buying opportunities tomorrow will likely come after a ‘2-legged pullback’ off the highs… and the target will be going back to re-test the high…the challenge will be staying patient for that opportunity.

Gold Trading Strategy
Gold is bullish after the sellers walked away this afternoon, but trading at the high of a bull-spike isn’t the most reliable place to get long… so the plan is to look for a ‘2-legged pullback’ off these new highs for the opportunity to ‘buy low’ on the way back up to re-test today’s high.  One thing to keep in mind for tomorrow is the prior day low… which becomes a big magnet if the buyers fail to hold this pullback… just don’t get caught chasing the move lower… wait for ‘traps’ if the buyers fail.

Euro Trading Strategy
Euro is bearish with a triangle this evening, telling us to look for selling-opportunities up at the highs of the triangle… while avoiding the temptation to chase the move lower.  The bears took control shortly after the opening-bell this morning and they got a beautiful opportunity to sell above the moving-average just before lunch… but the lack of follow-through back to re-test the lows is a big concern for the sellers… so we’re looking for traps and failures up at resistance levels tomorrow.

FDAX Trading Strategy

FDAX is bullish, but trying to break out through the highs of a range this evening, which tells us to stay patient to see if the bulls can hold this pullback…because if they can’t…sellers will be looking to ‘fade’ this breakout back into the original range tomorrow.  Remember…the most challenge part of ranges is staying focused on selling the highs, even when the breakout looks strong… so stay patient and wait for more proof in both directions.

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