Thursday, October 26, 2017

How to Find Best Trades | Crude Oil, Emini, Nasdaq, Gold & Euro



"Learn from yesterday, live for today, hope for tomorrow. The important thing is not to stop questioning." - Albert Einstein. 

Crude Oil is bullish with a Spike & Channel as it tries to re-test the prior month high, and my plan is to use the ‘battle zone’ for buying opportunities on Friday.

S&P is bullish with a Spike & Range, telling me to focus on failures down I the ‘battle zone’, or wait for a "fake-out-breakout-pullback" pattern tomorrow.

Nasdaq is bullish with a strong move higher to finish today’s session, telling me to expect a shallow, ‘2-legged pullback’, for buying opportunities Friday morning.

Gold is bearish and trying to re-test the low from earlier in October, but a key support level is telling me to either wait for a ‘2-legged pullback’, or focus on traps and buyer-failures tomorrow.

Euro is bearish and trading at the low of a channel, so my plan is to stay patient for “rotation” back up to the highs for selling-opportunities tomorrow morning.


Crude Oil Day Trading Strategy

Crude Oil is bullish with Spike & Channel, which tells me the bulls have been very strong in the last few hours, and most of the bulls are already in this move higher, so my best option is to wait for them to start taking profit, waiting for a ‘2-legged pullback’ to buy more down in the ‘battle zone’ tomorrow.

One thing I’m watching tomorrow is the prior month high, which is only a half-dollar away.  My plan is to look for the pullback, and then watch closely to see if the buyers push to new highs, which will be the signal that they want to make a run to finish the week.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Range and possible Spike & Channel developing for Friday’s session.

The range is most important, telling me to focus on failures below the low of the range, or use a "fake-out-breakout-pullback" pattern to new highs.

One thing to keep an eye on tomorrow is the prior week high.  As of this moment, that high at 77.25 is out of reach, but a strong move to finish the week tomorrow is possible, and I will be watching to see if the buyers can get and hold above the high of this channel for confirmation of that target.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a strong move to test the high of a hidden channel, just a few points ahead of the measured-move.

This was a very strong move, and moves with this much strength don’t often come all the way back down to the channel low, so im expecting a smaller pullback, and my goal is to use the '2-Try Rule' and seller-failures below the moving-average to look for buying opportunities tomorrow morning.

Gold Day Trading Strategy

Gold is bearish and trading at the low of a channel, which tells me to avoid selling into support, and focus on selling-opportunities back up at the high of the channel tomorrow.

One thing to keep an eye on tomorrow is the low from October 6th, which is easily within striking distance tomorrow, and we may not get a pullback before we test that level.

If price keeps sinking lower, my goal will be to use “traps” and buyer-failures above the moving-average to avoid selling too low.

Euro Day Trading Strategy

Euro is bearish and trading at the low of a channel, which tells me to wait for rotation back to the highs where I should be able to find some reliable selling-opportunities back down to re-test the low tomorrow.

One thing to keep an eye on tomorrow is a possible Trading-Range.  Whenever we see such a strong move in one direction, we expect to see a re-test of the low at some point tomorrow, but that may end up going sideways.


If that happens, the plan is to trade it like any other range;  sell the high, buy the low, and focus on failures using the '2-Try Rule'.

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