Monday, August 21, 2017

Triangle Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“If you are going to achieve excellence in big things, you develop the habit in little things. Excellence is not an exception; it is a prevailing attitude.” 

Crude Oil is bearish and trying to re-test last week’s low, and I’m looking for a ‘2-legged correction’ up into the ‘battle zone’ for selling-opportunities on Tuesday.

S&P is range-bound and the ‘pendulum swing’ tells us to look for selling-opportunities up at the measured-move for a target going back down to the lows.

Nasdaq is range-bound and trading at the highs tells us to focus on failures and sell back down to the range low tomorrow.

Gold is bullish, and a Spike & Range is telling us to use the '2-Try Rule' to buy in the ‘battle zone’ tomorrow.

Euro is bullish, and we’re looking for a ‘2-legged pullback’ to buy it cheap on the way up to re-test last week’s high.


Crude Oil Trading Strategy
Crude Oil is bearish and trying to re-test yesterday’s low, so my plan is to look for selling-opportunities using traps and failures above the moving-average, up in the ‘battle zone’ resistance area tomorrow.

The goal is to find a ‘2-legged pullback’ off these recent lows, which should get enough sellers interested in selling resistance levels back down to last week’s low.

E-Mini S&P Trading Strategy
E-Mini S&P is range-bound and the recent ‘pendulum swing’ is giving us clues that we need to stay patient, looking for selling-opportunities with the '2-Try Rule' going back down into the range again tomorrow.

The goal is look for buyer-failures using the many resistance levels we have for tomorrow, with the measured-move and prior day high at the top of our list.

E-Mini Nasdaq Trading Strategy
E-Mini Nasdaq is range-bound with a triangle and trading up near the highs, which tells us to use the '2-Try Rule' to focus on failures and sell back down into the range tomorrow.

The goal is to buy low, sell high, avoid the middle, and focus on failures whenever we have a range, and we have plenty of resistance levels overhead to look for the failure tomorrow.

Gold Trading Strategy
Gold is bullish with a Spike & Range as buyers keep missing their target at the $1300 round number.

The goal is to find buying opportunities down in the ‘battle zone’ support zone tomorrow while avoiding the temptation to chase the move higher ahead of the quadruple-up target just a few points above.

Euro Trading Strategy
Euro is bullish and trying to re-test last week’s high, but after such a strong run higher today, we assume that buyers will be looking for additional buying opportunities at lower prices tomorrow.

The goal is to use the ‘battle zone’ support area for a ‘2-legged pullback’ and a re-test of the highs tomorrow.


If price pushes higher, the goal is to use the "fake-out-breakout-pullback" pattern to avoid chasing the move higher.

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