Wednesday, October 18, 2017

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



"Success is a lousy teacher. It seduces smart people into thinking they can't lose."

Crude Oil is bullish and trying to push back to Monday’s high, but a Trading-Range is telling me I need to avoid buying the high, and wait for a successful breakout-pullback tomorrow.

S&P is bullish, but trading in the middle of a range, which tells me to focus on failures down in the ‘battle zone’ for the most reliable buying opportunities tomorrow.

Nasdaq is bullish and trading smack in the middle of a large triangle pattern, which tells me to focus on failures for buying opportunities below the range tomorrow.

Gold is bearish, but today’ closing-price is a big clue, telling me to avoid chasing this move lower, and focus on selling as high as possible tomorrow.

Euro is bullish with a strong move higher today, telling me to look for a ‘2-legged pullback’ and buying opportunities using the ‘battle zone’ tomorrow.

Most of our markets are balanced and trading sideways tonight, which tells us to focus on failures using the '2-Try Rule' tomorrow.


Crude Oil Day Trading Strategy
Crude Oil is bullish and trying to rotate back up to the high of the range, where we assume sellers will try and sell back down to the low.

The overall trend is bullish, so if price can show me some strength going through the highs, I can look for a "fake-out-breakout-pullback" pattern tomorrow.

The ideal scenario for the buyers would be seller-failure below the low of the range, using the support trend-line just below the ‘battle zone’.

E-Mini S&P Day Trading Strategy
E-Mini S&P is bullish, but we’re trading in the middle of this triangle pattern, which tells me to stay patient for price to break lower, then look for buying opportunities using failure patterns below the range, hopefully in the ‘battle zone’ tomorrow.


E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is range-bound and trading in the middle of a triangle pattern this evening, telling us to avoid the middle and focus on failures to sell the high and buy the low of the range tomorrow.

The bulls had control going into this range today, so our bias will be bullish until the sellers can prove otherwise, so my plan is to look for buying opportunities using seller-failures down below the lows of the range, with a target rotating back up to the high.

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

One important clue on this chart is the fact that we closed right on top of yesterday’s low, telling us that sellers have control, but aren’t interested in selling at lower prices, so the plan is to stick to selling as high as possible tomorrow.

Euro Day Trading Strategy

Euro is bullish with a strong bull channel this evening, telling me to look for a ‘2-legged pullback’ into support for a re-test of the high, and possibly a move back up to the range high from last week.

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