Tuesday, December 12, 2017

“Bounce” Day Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro

“Yesterday is not ours to recover, but tomorrow is ours to win or lose.”

Crude Oil is bearish and a recent bounce off a key support level tells me to let the buyers try once more before looking for selling-opportunities back down to the lows tomorrow.

S&P is bullish with a flag pattern, telling me to look for buying opportunities after a deep pullback below the channel low using the '2-Try Rule' tomorrow morning.

Nasdaq is trading sideways with a triangle, telling me to avoid the middle and focus on failures at the highs and lows tomorrow.

Gold is bearish, but a recent bounce off channel lows is telling me to use the '2-Try Rule' around the moving-average for selling-opportunities tomorrow.

Euro is bearish, but rejection at today’s low is telling me to stay patient for more reliable selling-opportunities up at a key resistance level tomorrow.

Crude Oil Day Trading Strategy

Crude Oil is bearish and trading above the high of a channel, which is an excellent place to look for selling-opportunities, but this bounce higher is a little too strong to short without letting the buyers try to buy the pullback.

My plan is to look for selling-opportunities using buyer-failures back at the moving-average or up in the ‘battle zone’ while avoiding the weekly inventory report at 10:30am EST tomorrow morning.

Crude Oil Inventory S/R Levels for Wednesday:
58.03, 57.77, 57.51, 57.25, 56.99, 56.73

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish and we’re still waiting for a decent pullback this week, and these lower-highs and lower-lows are creating a flag pattern, which combined with today’s Trading-Range, is telling me to look for buying opportunities down below the 64-level tomorrow morning.

E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish, but after the buyers tried twice to re-test yesterday’s high we can assume this market is trading sideways inside a triangle.

Triangles are trading just like a range, and my plan is to buy the low with the bull-bias, avoid the middle, and sell the high using the '2-Try Rule' and failure patterns.

Gold Day Trading Strategy

Gold is bearish and trying to rotate back to the high of this wide channel after a beautiful buyer-failure sent prices tumbling lower to start today’s session… just as we discussed in last night's newsletter.

This move higher looks pretty strong for the bulls, but it’s most likely that sellers are allowing it to rise higher so they can find selling-opportunities back down to the lows again once they start seeing the buyers fail at the moving-average, which is exactly what I’m looking for tomorrow as well.

Euro Day Trading Strategy

Euro is bearish after sellers completed their target coming off a beautiful reversal we found in last night's newsletter, but now we’re down at the lows and this recent bounce off the prior week low tells us that sellers are taking profit and looking for more reliable areas to sell tomorrow.

My plan is to look for selling-opportunities up above the channel highs around the ‘battle zone’ for a target going back down to re-test the low.

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