Monday, June 5, 2017

Trade the Trend Reversal | Crude Oil, Emini, Gold, Euro, FDAX



“The secret to life is meaningless unless you discover it yourself.” 


Crude Oil is bearish and trying to re-test Friday’s low, and a key support trend-line, combined with the ‘battle zone’ are giving us plenty of information to find reliable trading opportunities tomorrow.

S&P is bullish and trading at the low of a range this evening, so buyers are looking for seller-failures to re-test the high, while sellers are hoping a key resistance level will give them the reversal they’re looking for.

Gold is bullish at the low of a Trading-Range and trying to re-test today’s high, so we’re looking for buying opportunities using the '2-Try Rule', as well as a failure and possible collapse back down tomorrow.

Euro is bearish with a flag pattern this evening, telling us to sell the high of the channel, or look for traps after the break down tomorrow.

FDAX is bullish and trying to re-test today’s high, but a prior month level, combined with multiple clues are telling us to look for traps and failures to ‘buy the dip’ on Tuesday.


Crude Oil Trading Strategy
Crude Oil is bearish at the top of a Trading-Range and trying to re-test today’s low, but this trend-line may spoil the fun for the sellers and give the buyers an opportunity to grab control and make a run back to re-test today’s high.  The first thing that stands out on this chart is that the bears had a great opportunity to ‘sell high’ earlier today, and they got their target back to the low… but the buyers never really took firm control… we haven’t seen that ‘pop’ higher yet… which tells us the sellers may be waiting patiently up around the ‘battle zone’ to sell more tomorrow. 

E-Mini S&P Trading Strategy
E-Mini S&P is bullish trading at the low of a bull-range this evening, which tells us to look for buying opportunities using the '2-Try Rule' for a target going back up to re-test the high.  One thing that stands out on this chart is this falling resistance trend-line…which may keep the buyers from committing here…giving the sellers a chance to grab control with a target back down to Friday’s low.

Gold Trading Strategy
Gold is bullish trading at the low of a bull Trading-Range this evening, which tells us to look for seller-failures using the '2-Try Rule' for a move going back up to re-test the high tomorrow.  One thing to keep in mind for tomorrow is that the sellers have just tried to break out of this range.  They will likely try once again, and if they are successful they have a good opportunity to take control and run price down to support levels (such as the measured-move) waiting below.

Euro Trading Strategy
Euro is bearish with a flag pattern this evening, which means the sellers are trying to sell as high as possible, with a target going back to re-test the low, and most likely a measured-move from there.  The key to trading a flag is to look for selling-opportunities up at the high of the channel… or wait for the breakdown and then grab a ‘trap high’ to avoid chasing the move lower.

FDAX Trading Strategy

FDAX is bullish and trying to re-test today’s high, but we can see the prior month high appears to be acting as a ceiling this evening.  We can see that buyers were interested in buying low…defending every deep pullback off the highs…but this recent attempt to re-test the high appears to be failing...further confirming that we need to focus on buying low with traps and seller-failures tomorrow until we see more proof for the buyers.

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