Tuesday, December 5, 2017

3 Questions Before Every Trade | Crude Oil, Emini, Nasdaq, Gold & Euro



“If we did all the things we are capable of, we would astound ourselves.”
Crude Oil is bearish ahead of tomorrow’s inventory report, and I’m watching a prior support level to be used as a key level of resistance tomorrow morning.

S&P is bearish with another strong move lower to finish today’s session, and I’m watching a key reversal-line for reliable selling-opportunities tomorrow morning.

Nasdaq is bearish and rotating back down to the low of a Trading-Range, and my plan is to use a short-term channel to time the best entries tomorrow.

Gold is bearish with a Spike & Channel, telling me to wait for a retracement up into the ‘battle zone’ for the most reliable selling-opportunities tomorrow.

Euro is bearish and trading at the high of a channel, but a major support level is telling us to stay patient for a deeper pullback for more reliable selling-opportunities tomorrow morning.

Tonight, I want to talk about three (3) questions you should ask yourself before you take your next trade, you’re going to love tonight's newsletter!


Crude Oil Day Trading Strategy

Crude Oil is bearish and trying to re-test today’s low, and after breaking below this rising support trend-line, my plan is to use it as resistance for selling-opportunities tomorrow morning.

The big challenge tomorrow is the weekly inventory report, which means ANYTHING can happen before and after the report is released.  The most important thing tomorrow is to get to those trades early, then let the news come out and trade the reaction a few minutes afterwards.

Crude Oil Inventory S/R Levels for Wednesday:
58.54, 58.16, 57.78, 57.40, 57.02, 56.64

E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish after finishing today’s session with another strong move lower, which tells me, just like yesterday, to wait for a nice large retracement for selling-opportunities tomorrow morning.

One of the big clues for tomorrow is the reversal-line at 2634, and combined with the previous swing-high will create a great ‘battle zone’ for us to use tomorrow morning.


E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bearish and rotating back down to the low of a large Trading-Range, and this short-term channel will be a great tool for timing the entries and exits tomorrow.

This move down off the mid-day highs was quite strong, and with a naked reversal-line up at 91 I am waiting patiently to sell a pullback up in the ‘battle zone’ tomorrow.

Don’t forget about rollover later this week as well!

Gold Day Trading Strategy

Gold is bearish with a Spike & Channel pattern, which tells me to look for traps and buyer-failures up around the ‘battle zone’ tomorrow.

The big clue for tomorrow is this rising support trend-line.  My goal will be to get high enough on the chart so I have enough room for a target, or get below the trend-line and use it as resistance on the way back down to re-test the lows tomorrow.

Euro Day Trading Strategy

Euro is bearish with multiple channels to work with tomorrow, but the most important clue on this chart might be the prior week low.


The bears have control, and the high of a bear channel is a great place to look for selling-opportunities, but this bounce off the prior week low tells me that selling too close to this major support level won’t be very reliable, so I’m waiting for a larger retracement up in the ‘battle zone’ at the high of the long-term channel tomorrow.

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