Tuesday, November 7, 2017

Range-Bound Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



"I fear not the man who has practiced 10 000 kicks once, but I fear the man who has practiced one kick 10 000 times." - Bruce Lee

Crude Oil is range-bound ahead of tomorrow’s inventory report, so my plan is buy the low, sell the high, and focus on failures before the news is released tomorrow morning.

S&P is range-bound and the sellers have now tried twice to break out lower, so I’m watching to see if these sellers fail for a move back up into the range, or if I’m selling down to yesterday’s low tomorrow morning.

Nasdaq is range-bound and sideways, telling me to focus on failures, selling high, buying low, and avoiding the middle tomorrow morning.

Gold is bearish and rotating off the high of a channel, and I’m watching a key support trend-line for the most reliable selling-opportunities tomorrow.

Euro is bearish with a flag pattern, so my plan is to look for buyer-failures up above the high, with a target going back to this morning’s low.

We have a few range-bound markets to work with tomorrow, which always gives us some great trading opportunities and I have another great newsletter for you, so you’re ready for Wednesday’s session.


Crude Oil Day Trading Strategy

Crude Oil is range-bound ahead of tomorrow’s Inventory Report, which tells me to focus on failures using the '2-Try Rule' tomorrow morning while watching the time ahead of the weekly news report.

Remember, tomorrow is Inventory Day, which means ANYTHING can happen, and my cutoff is 10:15am EST before the new is released… time is of the essence!

Crude Oil Inventory S/R Levels for Wednesday:
57.74, 57.51, 57.28, 57.05, 56.82, 56.59

E-Mini S&P Day Trading Strategy

E-Mini S&P is range-bound and trying to complete the '2-Try Rule' below the lows, which tells me that the next few hours will most likely make or break this range going into tomorrow.

This is the 2nd try to break out of this range, and if the sellers can show us some strength, im looking for a continuation down to yesterday’s low.

If the sellers cant run lower, then im looking for seller-failure back at the moving-average for a move going back up to fill the gap at the high of the range.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is range-bound and rotating back and forth from high down to low, so my plan is to buy the low, sell the high, avoid the middle, and focus on failures using the '2-Try Rule' tomorrow morning.

Gold Day Trading Strategy

Gold is bearish and trying to re-test the measured-move back at today’s low, but this rising support trend-line is standing in my way, so the plan is to look for selling-opportunities using buyer-failures if the price moves higher, or wait for a ‘2-legged pullback’ below the trend-line for a re-test of the low.

Euro Day Trading Strategy

Euro is bearish with a flag pattern, so my plan is to look for selling-opportunities using buyer-failures above the high of this channel, or wait for a breakout-pullback pattern below the lows of the channel tomorrow.


One thing to watch tomorrow is this prior month low, which will act as support, so my goal is to get short as high as possible, up in that ‘battle zone’ tomorrow morning.

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