Monday, September 18, 2017

“Balance” Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“Develop an attitude of gratitude, and give thanks for everything that happens to you, knowing that every step forward is a step toward achieving something bigger and better than your current situation.”


Crude Oil is bearish and trying to re-test today’s low, but this afternoon’s close was VERY bullish, so I’m waiting for the bulls to try and fail before looking for selling-opportunities back to the low.

S&P is bullish with a Spike & Range, which tells me to avoid the middle, be skeptical of new highs, and look for seller-failures below the low of the range tomorrow.

Nasdaq is bullish with a Spike & Range, which tells me to look for buying opportunities using the '2-Try Rule' with a target back to the prior month high.

Gold is bearish with a strong move lower since last Friday, which tells me to stay patient for selling-opportunities after a ‘2-legged correction’ off today’s low.

Euro is slightly bullish with a Spike & Range, telling us to focus on failures and sell the high, buy the low, and avoid the middle tomorrow.

The key word for tonight is BALANCE, and we’re going to see a bunch of great examples of what balance LOOKS like on a chart, as well as how to trade it correctly.


Crude Oil Trading Strategy
Crude Oil is bearish and trying to re-test today’s low, but this move higher to finish today’s session was very strong, telling me that buyers will most likely try one more time to reverse the trend.

My goal for tomorrow is to wait and see the buyers try again, looking for signs of failure and selling-opportunities back down to re-test today’s low.

If the buyers are successful, then the plan is to look for a ‘2-legged pullback’ above the ‘battle zone’ with a target going up to the prior week high.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish with a Spike & Range, which tells me to avoid the middle of the range, while watching for a fake-out breakout to new highs tomorrow.

The big challenge going into tomorrow’s session is to stay away from this middle.  My goal is to look for the '2-Try Rule' to buy into seller-failures below the low of the range, while being highly skeptical of any attempts to breakout to new highs tomorrow.


E-Mini Nasdaq Trading Strategy
E-Mini Nasdaq is bullish with a Spike & Range pattern, which tells me to look for buying opportunities down below the low of this range.

The only challenge I see is the strength of this move lower this afternoon.  Any time we see a strong move in one direction, we usually get another attempt to go lower.

My plan is to wait for that second attempt to go lower, and then look for buying opportunities using seller-failures.

Gold Trading Strategy
Gold is bearish with a strong move lower since last Friday’s session, and the lack of any real pullback off the lows is telling us that there are most likely a LOT of sellers waiting to sell the next move off the lows.

My plan for tomorrow is to look for selling-opportunities up at resistance levels overhead, hopefully up in the ‘battle zone’.

I’m also watching for a sideways Trading-Range to develop early tomorrow morning.  When a market moves this much, with this much strength, sometimes we have a hard time getting price to move higher, so I’m watching for a Trading-Range so I can use the '2-Try Rule' to sell into buyer-failures if that happens tomorrow.

Euro Trading Strategy
Euro is bullish with a Spike & Range, which tells us to look for failures at the highs and lows to fade the breakouts back into the original range tomorrow.


My goal is to avoid the middle, buy the low, sell the high, and focus on failures using the '2-Try Rule' tomorrow.

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