Wednesday, August 23, 2017

4 Phases of Trend Following | Crude Oil, Emini, Nasdaq, Gold & Euro



"Learn from yesterday, live for today, hope for tomorrow." -Albert Einstein

Crude Oil is bullish with a Spike & Channel, just a few ticks above the prior day high, which tells us to focus on buying a deep pullback into the ‘battle zone’ to avoid getting chopped-up around the PHOD.

S&P is bearish and getting ready to fill profit targets for the sellers, so we’re waiting for buyer-failures up above the moving-average to sell more tomorrow.

Nasdaq is bearish, but sitting on the market's objective is a horrible place to sell, so we’re staying patient for a “Trap” off the low, or a strong break lower for a measured-move tomorrow.

Gold is bullish and just about to reach its target, which tells us to stay patient for “traps” off the high, or a successful breakout-pullback to new highs tomorrow.

Euro is bullish with a Spike & Channel, which tells us to look for buying opportunities after a ‘2-legged pullback’ off the highs tomorrow.


Crude Oil Trading Strategy
Crude Oil is bullish with a Spike & Channel and trading “four legs higher” at the "quadruple-up" target from earlier today.

The Spike & Channel tells us that buyers have been working this market higher for a long-term today, and they will most likely be looking to take some profit (sell) before buying at lower prices to tomorrow.

The goal is to look for buying opportunities down in the ‘battle zone’ because we are just a few ticks above the prior day high, which often acts as a price-magnet, so buying BELOW that level will make it easier to get our targets filled.


E-Mini S&P Trading Strategy
E-Mini S&P is bearish and just inches away from re-testing the low, which is the market's objective for the sellers.

We don’t want to make the mistake of chasing this move lower, so we’re looking for traps and failures up above the moving-average for the most reliable selling-opportunities, while keeping an eye on a strong break lower for continuation to the measured-move.

E-Mini Nasdaq Trading Strategy
E-Mini Nasdaq is bearish and trading at today’s low, which is considered the “market’s objective”.

The bears have control, but this is where most sellers will be taking profit, so we don’t want to sell here, better to wait for higher prices tomorrow, or a strong push to new lows to keep running down to the measured-move target tomorrow.

Gold Trading Strategy
Gold is bullish and with a target back to re-test today’s high, which means the bulls are just about ready to take profit, and we should avoid buying more until we see a clear, strong break to new highs, or a “trap low” to catch the sellers on the wrong side of the market.

Euro Trading Strategy
Euro is bullish with a Spike & Channel, which tells me to look for buying opportunities after a ‘2-legged pullback’ to support levels waiting below.

Spike & Channels tell me that this market has been bullish for a long time now, which means we should start seeing the bulls take profit (sell) and wait for better (lower) prices to buy more tomorrow.


The most important thing tomorrow is to “buy low” and not try to force trading to new highs.  The plan is to wait for clear strength going higher, then focus on “traps” to avoid buying into the weekly high target.

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