Thursday, August 31, 2017

Labor Day Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“What your mind can conceive, and your heart can believe, you can achieve!”


Crude Oil is bullish with a Spike & Channel, telling us to watch for a ‘2-legged pullback’ back to the ‘battle zone’ for the most reliable buying opportunities tomorrow.

S&P is bullish with a Spike & Channel, and a recent flattening of the moving-average tells us to keep an eye on a Trading-Range ahead of the Labor Day Weekend.

Nasdaq is bullish with another low-volume, zombie-like run higher today, and we’re watching the ‘battle zone’ for buying opportunities on the way up to the round number target tomorrow.

Gold is bullish and trying to reach the “missile-test” highs from earlier this week, and we have a GAP pattern telling us to stay patient for buying opportunities ahead of this Labor Day Holiday Weekend.

Euro is bullish with a V-Bottom pattern, telling us to avoid the “Traps” at the high, and look for buying opportunities in the ‘battle zone’ tomorrow.


Crude Oil Trading Strategy
Crude Oil is bullish with a large Spike & Channel, which tells us to look for a rather deep ‘2-legged pullback’ off the highs for buying opportunities tomorrow.

Some additional things to consider are the prior week levels.  Keep an eye on a possible Trading-Range developing around the prior week low and prior week high as we finish up this week and go into the Labor Day Holiday.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish with a Spike & Channel, which tells us to look for buying opportunities down below prior support swings and a re-test of the high.

One thing that stands out this evening is the recent flattening of the moving-average, telling us that this market is “content” around this area, which tells us to keep an eye out for a Trading-Range tomorrow, with the plan of buying the lows using the '2-Try Rule' and seller-failure.


E-Mini Nasdaq Trading Strategy
E-Mini Nasdaq is bullish and trying to reach the 6,000 round number before Labor Day Weekend, and we haven’t seen a decent ‘2-legged pullback’ since last week, so we’re crossing our fingers this “zombie” market will give us something nice to work with tomorrow down in the ‘battle zone’.

Gold Trading Strategy
Gold is bullish with a Spike & Channel, which tells us that most buyers are already either in this market long, or waiting for a lower price to enter this move on the way back up to re-test the “missile test highs” from earlier this week.

The goal for tomorrow is to find buying opportunities down around the “gap” and reversal-line ‘battle zone’ tomorrow, which will allow anyone who has been waiting on the sidelines to get into their trades, which should help push this price back up to re-test the 31.9 target.

Euro Trading Strategy

Euro is bullish with a Spike & Channel as it tries to re-test the prior week high, and this V-Bottom pattern reminds us to avoid buying at this peak, and focus on buying after a pullback into the ‘battle zone’ tomorrow.

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