Thursday, November 16, 2017

Friday’s Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



"Knowing is not enough; We must apply. Willing is not enough; We must do."
 Crude Oil is range-bound, so my plan is to buy the low, sell the high, avoid the middle, and focus on failures tomorrow morning.

S&P is bullish with a Spike & Channel pattern, and I’m watching for a pullback to the prior month high for buying opportunities going back to the prior week high tomorrow morning.

Nasdaq is bullish with a strong spike higher today, telling me to look for a ‘2-legged pullback’ into the ‘battle zone’ for buying opportunities going back up to re-test the high tomorrow.

Gold is bearish with a Spike & Range, telling me to focus on failures for selling-opportunities up above the range high tomorrow morning.

Euro is bearish with a short-term trading-range, telling me to look for buyer-failures above the range or a successful breakout-pullback to new lows tomorrow morning.


Crude Oil Day Trading Strategy

Crude Oil is range-bound and rotating back and forth between levels of support and resistance this evening.

My plan for a range is always very simple; buy the low, sell the high, focus on failures using the '2-Try Rule' and avoid the middle.

The hardest part of Trading-Ranges is staying away from the middle, so stay patient, and remember those breakouts will LOOK strong, but make them hold the pullback and look for the failure back into the range.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Channel, telling me to look for a deep pullback to attract more buyers at lower prices before using seller-failure patterns to buy back up to re-test the high.

I would love to use the prior month high as support, and then leave a runner target up to finish the week at the prior week high tomorrow afternoon.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish and making new all-time highs this evening, and with today’s remarkable run higher, we know the odds of a ‘2-legged pullback’ and re-test of the high are very good tomorrow morning.

My plan is to look for that ‘2-legged pullback’ down in the ‘battle zone’ with a target going back to the high, and I’m going to be watching closely for seller-failures as we pull back below the moving-average.

One thing to keep in mind for tomorrow is a possible Trading-Range.  Any time we see a move like this, the following session tends to go sideways, so keep an eye on the rejection when we go back to re-test the high tomorrow morning.

Gold Day Trading Strategy

Gold is still bearish and trading with a Spike & Range, which tells me to keep looking for selling-opportunities up above the range high, while waiting for a strong breakout-pullback to new lows tomorrow.

If sellers can push to new lows tomorrow, I’m watching a large measured-move and the prior week low as targets.

If sellers fail and buyers take control, I’m looking for a run back up to the prior week high to finish the week.

Euro Day Trading Strategy

Euro is bearish with a short-term trading-range, which tells me to look for buyer-failures up above the range, or a successful breakout-pullback to new lows tomorrow morning.

If price can push below this range, I’m watching the 50% pullback support level and the prior week high as targets.


If the sellers fail, I’m looking for buyers to run back to the prior month open.

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