Wednesday, September 20, 2017

V-Bottom Day Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro

“Only by contending with challenges that seem to be beyond your strength to handle at the moment can you grow more surely toward the stars.”

Crude Oil is bullish, but a recent strong move lower tells me to look for sellers to try again, and I’ll be waiting for them to fail for buying opportunities back to the monthly highs tomorrow.

S&P is bullish, but trading at the high of a “V-Bottom” pattern isn’t very reliable, so I’m looking to use the ‘battle zone’ and seller-failure to buy the pullback tomorrow.

Nasdaq looks bearish at first, but the recent “spike” higher tells me to watch for the sellers to try and fail before looking for buying opportunities back to the highs.

Gold is bearish with a Spike & Range, and my goal is to use a key “reversal-line” overhead for selling-opportunities tomorrow.

Euro appears to be bearish at first, but looking at the bigger picture tells me that this may be an excellent place to look for buying opportunities tomorrow.

We survived the FOMC Announcement this afternoon, and that big news event gave us some big trading opportunities for Thursday, including a beautiful V-Bottom pattern setting-up as we speak.

Crude Oil Trading Strategy
Crude Oil is bullish with a multi-tier channel as the bulls try to re-test the prior month high, and push through to a measured-move target tomorrow.

The bulls have control, even after this sharp move lower this afternoon, but we assume that sellers will likely try to push it lower anyway, which is just what the buyers will be looking for.

My plan for tomorrow is to look for sellers to try again, watching for failures at the low of the channel, and the in the ‘battle zone’ for a move going back to the highs.

If we don’t see the sellers try again, and price pushes higher, my plan is to focus on “traps” to avoid buying into the resistance levels overhead.

E-Mini S&P Trading Strategy
E-Mini S&P is bullish with a V-Bottom pattern, back in the original Trading-Range where today’s session started.

The bull channel tells me to look for buying opportunities using traps and seller-failures down in the ‘battle zone’, and my big concern is trying to buy to new highs tomorrow.

If price pushes higher (without pulling back first), my goal is to focus on “traps” so I don’t get caught trying to buy into the range high and measured-move resistance levels overhead.

E-Mini Nasdaq Trading Strategy
E-Mini Nasdaq is bullish after a strong bull “spike” higher to finish today’s session.

The day started well for the bears; they have a nice bear channel and they got their measured-move, which would normally tell me to look for selling-opportunities back down to the low again, but this recent move higher is just too strong to be called “bearish”.

My plan is to anticipate the sellers will try twice to go back to re-test the low, and if/when they fail, begin looking for buying opportunities going back up to the 6000 round number and the prior highs overhead.

Gold Trading Strategy
Gold is bearish with a Spike & Range pattern this evening, telling me to look for selling-opportunities using the '2-Try Rule' up above the range, in the ‘battle zone’ tomorrow.

My goal is to avoid selling into the 1300 round number, and focus on traps and failures using the reversal-line around 1308.1.

On the flip side, if the sellers fail to hold control, the session started with a range, and assuming the buyers can take control, that becomes the bullish target tomorrow.

Euro Trading Strategy
Euro is bearish with a Spike & Range following this afternoon’s FOMC Announcement, but looking at the bigger picture, we can easily see this as a deep pullback off the highs of the Spike & Channel we found earlier this week.

This may be a perfect place for buyers to “buy the dip”, but this move lower was way too strong to buy, so we need to see proof of seller-failure before we commit to the long-side tomorrow.

My plan for tomorrow is watch the sellers try twice to finish the move back to the low, and if/when they fail, start looking for “buy signals” going back to the highs.

If you’re looking for selling-opportunities tomorrow, the ‘battle zone’ overhead is perfect to look for buyer-failures as well, just be careful trying to sell a move lower because the objective is just below 19000.

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