Thursday, December 7, 2017

Three Leg Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." 

Crude Oil is bullish and three legs higher, telling me to wait for seller-failures after a rather deep pullback tomorrow morning.

S&P is bullish ahead of tomorrow’ Non-Farm Payroll report, and a potential Spike & Range pattern tells me to stay patient for a ‘2-legged pullback’ tomorrow.

Nasdaq is bullish, but trading into major resistance, so I’m looking for bear-traps below the moving-average tomorrow morning.

Gold is bearish with a parabolic move lower, so my plan is to look for a selling-opportunities using buyer-failures above the moving-average tomorrow.

Euro is bearish, but we’re trading at major support, so I’m waiting to sell the bounce up in the ‘battle zone’ of follow the move lower on strength.


Crude Oil Day Trading Strategy

Crude Oil is bullish and trading at three legs higher tonight, telling me that we are “due” for a pullback, and with the trend being so bearish over the last two days, that pullback may be quite large, so I am going to be watching closely to see the personality of the price-action as it happens.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with three legs higher in what appears to be either a strong bull channel or a Spike & Range, so I’m waiting to see how the buyers react to today’s high.

If we see profit-taking at these highs, then we know it’s a Spike & Range, and my plan is to look for traps and seller-failures down in the ‘battle zone’.

If we see buyers continue to buy through these highs, then I’m going to try and get above this resistance trend-line and finish the rotation back to the high, or wait patiently for rotation back down to buy the lows.

The big variable for the S&P is the Non-Farm Payroll report tomorrow morning @ 8:30am EST, which often sends the market into a frenzy, or sleepy and sideways inside a range, we won’t know until tomorrow morning around 8:45am EST.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish and trying to complete it’s third leg higher, but the top of this Trading-Range is keeping the buyers from getting too aggressive.

I really don’t want to buy the highs here, so my plan is to look for a pullback into the ‘battle zone’ or buy a ‘2-legged pullback’ after a strong break higher tomorrow.

Gold Day Trading Strategy

Gold is bearish, but this parabolic move below the Spike & Channel is a little too aggressive for me to sell, so my plan is to look for buyer-failures above the moving-average, or back at the high of the channel at resistance.

I’m also going to be watching for a Trading-Range tomorrow because we often see big moves like these start going sideways because sellers don’t want to sell this low, and if that happens, my focus will be selling above the high with buyer-failures.

Euro Day Trading Strategy

Euro is bearish and trading down at the low of yesterday’s range, which is considered the seller’s objective.


The bears have control, but I’m not interested in selling at this support level, so my plan for tomorrow is to look for selling-opportunities up around the ‘battle zone’ overhead, or wait for a successful breakout-pullback to new lows.

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