Wednesday, November 1, 2017

Fed Chair Announcement Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro

“The sky has never been the limit. We are our own limits. It’s then about breaking our personal limits and outgrowing ourselves to live our best lives.”

Crude Oil is bearish and looks like it wants to trade sideways around the prior week high, so my plan is to fade the breakouts going back into the range tomorrow morning.

S&P is bearish, but my goal is to sell at resistance in a bear market, and with major support in my way, I’m waiting to sell the “bounce” tomorrow morning.

Nasdaq is bearish and just a few inches away from a key sell-target, so we’re waiting to see if the sellers “accept” new lower-lows, or if we wait for a re-test of the ‘battle zone’ tomorrow morning.

Gold is range-bound with a triangle pattern ahead of the Fed Chair Announcement tomorrow, so I’m focus on failures using the '2-Try Rule'.

Euro is sideways with a triangle pattern, telling me to focus on failures, buying low, and selling high tomorrow morning.

Crude Oil Day Trading Strategy

Crude Oil is bearish and feels like it wants to trade sideways going into tomorrow’s session.

We had a strong move lower after this morning’s inventory report, tagged yesterday’s low, and ended the session right back to the prior week high, which has been a price-magnet since Monday morning.

We know the bears have control, and we can see the moving-average starting to go flat along with overlapping candlesticks, so my guess for tomorrow is sideways.

My plan for tomorrow is to focus on selling up around resistance levels overhead, focus on failures with a target going back down to re-test the low.

I don’t expect Crude Oil to be affected too much by the Fed Chair Announcement tomorrow, but I will keep my eyes open nonetheless.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish and re-testing today’s low, which is exactly where sellers will be looking to take their profit.

The goal is to sell at RESISTANCE in a bear market, and as you can see, we’re sitting at support, so my plan is to wait for PROOF these bears want to run lower, or wait for rotation back up to range-highs and sell back down from there.

I do certainly expect the E-Mini S&P to be affected by the Fed Chair Announcement tomorrow morning, the big variable is WHEN the news will hit the wire, so keep your eyes open, and DON’T trade against it!

E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish and trying to re-test today’s low.  The bears certainly have control, but we’re far too close to the target to get getting into any new positions at this point. 

My goal is to look for selling-opportunities tomorrow morning either with a strong push to new lows, or a rotation back up in the ‘battle zone’.

Gold Day Trading Strategy

Gold is range-bound with a triangle pattern, which tells me to avoid the middle and focus on failures above the highs and below the lows using the '2-Try Rule' tomorrow morning.

One thing to keep an eye on tomorrow morning is that we have major support below the range, and major resistance above the range, so it would be advised to avoid chasing any sharp spikes higher or lower tomorrow, staying patient for the failures back into the original range.

We’re expected to hear about the new Fed Chair Announcement tomorrow morning, which will most likely impact Gold more than any other market.

Euro Day Trading Strategy

Euro is trading sideways with a triangle pattern, which tells me this market is range-bound without much a directional trend for tomorrow.

My plan in these situations is to focus on failures outside the range, buying low, selling high, and avoiding the middle of the range.

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