Monday, July 31, 2017

“Grind Break” Day Trading Strategy| Crude Oil, Emini, Gold, Euro, FDAX

“Trading is a game of probabilities and pattern-recognition that can be won by anyone who is willing to invest the time to learn the business, develop the skills, and maintain the trader's mindset.” – Joseph James

Crude Oil is bullish with a strong spike higher, telling us to watch for traps down in the ‘battle zone’ and a re-test of the high tomorrow.

S&P is range-bound and sitting in the middle of the range, so the plan is to stay patient and “fade the edges” of this range tomorrow.

Gold is bullish with a Spike & Range, telling us focus on failures below the low of the range, using two price-action “gaps” for entries and exits.

Euro is bullish and trying to reach the 19,000-round number, but a “grind break” earlier in today’s session is telling us to wait for a deep pullback for the most reliable buying opportunities tomorrow.

FDAX is bearish, but we’re sitting at major support, so we’re looking for selling-opportunities up in the ‘battle zone’ overhead, or a successful breakout-pullback to new lows tomorrow.

Crude Oil Trading Strategy
Crude Oil is bullish with a strong spike higher to finish today’s session, which will most likely develop into either a Spike & Channel or a Spike & Range tomorrow.

No matter which situation we get, the main objective for the buyers will be to buy as low as possible, and a target going back to re-test the high.

The ideal scenario would be a deep pullback into the ‘battle zone’, perhaps using the rising support trend-line, and then rotating back to re-test the high.

E-Mini S&P Trading Strategy
E-Mini S&P is range-bound with a triangle, which tells us to buy the low, sell the high, avoid the middle, and focus on failures around the edges tomorrow.

The biggest challenge for ranges like this is staying patient and avoiding the temptation to trade the middle.  Stay focused on the edges, buying as low and selling as high as possible tomorrow until we see a successful breakout-pullback.

Gold Trading Strategy
Gold is bullish with a Spike & Range, along with two price-action gaps on the chart.

The Spike & Range tells us to look for buying opportunities below the low of the range, with a target going back to the high, while the gaps are levels of support and resistance that will most likely be used for entries and exits tomorrow.

Euro Trading Strategy
Euro is bullish with channel, Spike & Wedge, and quadruple-up target for tomorrow.

The bull channel has a “grind break”, which tells us to look for a trap down in the ‘battle zone’ while the wedge and quadruple-up will serve as targets for the bulls tomorrow.

FDAX Trading Strategy
FDAX is bearish and trading at last Friday’s low, which is also the seller’s target after the recent retracement.

The bears have control, but sitting on the “objective” is a horrible place to sell, so we’re watching for selling-opportunities up above in the ‘battle zone’, or down to new lows with strong proof tomorrow.

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