Thursday, July 6, 2017

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



“In any situation, the best thing you can do is the right thing; the next best thing you can do is the wrong thing; the worst thing you can do is nothing.”  - Theodore Roosevelt


Crude Oil is bearish, but struggling to push through today’s low, which tells us to look for selling-opportunities up in the ‘battle zone’ and a target down at yesterday’s low.

S&P is bearish and trying to re-test the prior week low, but a measured-move is telling us to wait for a ‘2-legged correction’ to avoid selling low tomorrow.

Gold is range-bound and trading in the middle of the range, so we’re staying patient and wait for breakouts to fade on Friday.

Euro is bullish with a strong bull channel, telling us to look for a ‘2-legged pullback’ and a target going up to last week’s high.

FDAX is bearish with a Spike & Range, telling us to look for traps and failures up above range highs with a target down at last week’s low.

Crude Oil Trading Strategy
Crude Oil is bearish and trying to re-test yesterday’s low, but sellers appear to be struggling to push through today’s low, which tells us to look for selling-opportunities up at resistance levels overhead, or wait for a fake-out breakout pullback to go lower tomorrow.

The plan for tomorrow is to watch for this short-term range to develop and focus on selling above the range high, or wait for a strong break down and look for the pullback.

E-Mini S&P Trading Strategy
E-Mini S&P is bearish and trying to re-test the prior week low, but this measured-move is clearly getting in the way.

The measured-move tells us this market is considered too cheap to sell, telling us the most reliable selling-opportunities will be up at resistance levels overhead tomorrow.
The plan is to look for a ‘2-legged correction’ off these lows to allow us to ‘sell high’ with a target down at the prior week low.

If we don’t get a correction, the plan is to look for a bearish Trading-Range to develop around the prior week low, and use traps and failures to sell above the range.

Gold Trading Strategy
Gold is range-bound and trading in the middle of this range, which is the last reliable area to be trading, telling us to stay patient and wait for an attempt to break out tomorrow.

The plan for a Trading-Range is to buy the low, sell the high, avoid the middle, and focus on failures until we see a successful breakout-pullback, and as of now, this market appears life-less in the middle, so we need to sit-on-hands and wait for more information.

Euro Trading Strategy
Euro is bullish and trying to re-test last week’s high with a strong run higher today and a bull channel.

The bull channel tells us to look for a ‘2-legged pullback’ and a target going back to re-test the high tomorrow, and the plan is to get below the moving-average and look for failures into pullbacks on the way back to the high.

Another possible scenario (if we don’t get the pullback) would also be a spike into range tomorrow, in which we would focus on traps and failures below the low of the range.

FDAX Trading Strategy
FDAX is bearish and trying to re-test the prior week low, but we can see the sellers clearly rejecting the idea of ‘selling low’, which has created a Spike & range to finish today’s session.

The Spike & Range tells us to look for selling-opportunities up above the range-high, while avoiding the fake-out breakout at the range lows.


The goal for tomorrow is to look for traps and failures up above the range-high, and then a STRONG fake-out breakout pullback down to a measured-move, while watching for rejection at the range low.

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