Wednesday, July 19, 2017

How to Avoid the Stop-Run | Crude Oil, Emini, Gold, Euro, FDAX



"Cherish your visions and your dreams as they are the children of your soul, the blueprints of your ultimate achievements."   


Crude Oil is bullish, but we recently re-tested the Double-Up target, so we’re watching for either a successful breakout-pullback to new highs, or a ‘2-legged pullback’ into the ‘battle zone’ tomorrow.

S&P is bullish and trying to reach a major Double-Up target tomorrow, but after four legs higher, we’re staying patient for traps and seller-failures tomorrow.

Gold is bullish with a Spike & Range, telling us to look for buying opportunities with traps and failures below the range lows tomorrow.

Euro is bearish with a Spike & Wedge, telling us to focus on selling the ‘2-legged corrections’ and avoid chasing the move lower tomorrow.

FDAX is bearish with a flag pattern, telling us to look for selling-opportunities with an overshoot of the bull channel, and a target down to monthly support.


Crude Oil Trading Strategy
Crude Oil is bullish and recently re-tested the Double-Up resistance target to finish today’s session, which tells us the buyers most likely got their target and will be either looking for a triple-up target, or a deep pullback to attract more buyers tomorrow.

Buyers would love to buy at a cheaper price tomorrow, so we’re looking for a ‘2-legged pullback’ off these highs into the ‘battle zone’ for a re-test of the high.

If price decided to push higher (without the pullback) then we need to be careful chasing the move higher, staying patient to wait for a successful breakout-pullback to ‘buy the dip’ on the way up to the triple-up target overhead.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish with a strong bull run to new all-time highs today, telling us to look for ‘2-legged pullbacks’ off the highs for buying opportunities at support levels waiting below.

One thing to keep in mind is this (minor) quadruple-up at 70.75 and the (major) Double-Up at 74.75. 

We always expect to see a deep pullback after a market moves four legs higher, but this market was stubbornly-bullish today, so we may extend this move to the Double-Up waiting overhead.  The key will be STRENGTH continuing through this resistance tomorrow.

Gold Trading Strategy
Gold is bullish with a Spike & Range, telling us to look for buying opportunities below the support levels below the range, while avoiding the temptation to buy as price tries to push back to the highs.

One thing to keep an eye on tomorrow is the prior day high, which appears to have been the stumbling point for the buyers today, and we would expect to see similar reaction tomorrow. 

Look for STRENGTH through the highs and then buy the ‘2-legged pullback’ to avoid getting suckered into buying into the high.

Euro Trading Strategy
Euro is bearish with a Spike & Wedge, telling us to look for traps and failures up above overhead resistance levels for a target going back down to re-test the low.

One thing to remember, the wedge target is right around the measured-move, so avoid selling too low, and watch out for wedge overshoots that can shoot back in the opposite direction VERY quickly.

FDAX Trading Strategy
FDAX is bearish with a flag pattern, telling us to keep looking for selling-opportunities up above the high of the bull channel, or below the low of the channel after a strong push lower.


One thing to keep an eye on tomorrow is a strong move higher, which would signal a failure for the sellers and give the buyers a great opportunity to grab a move running higher to that resistance trend-line waiting overhead.

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