Monday, January 22, 2018

Day Trading Strong Breakouts | Crude Oil, Emini, Nasdaq, Gold & Euro

“Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy.”

Crude Oil is range-bound after a wild ride in today’s session, telling me focus on failures using the '2-Try Rule' and keep fading these moves back into the range tomorrow morning.

E-Mini S&P is bullish with a steep bull channel, telling me this trend is strong, and that I might not get that much of a pullback tomorrow so I’m looking for buying opportunities using a shallow ‘2-legged pullback’ into the ‘battle zone’ tomorrow.

Nasdaq is bullish with a strong run higher today, and without any decent pullback all day today, we know that buyers are likely waiting to buy the next ‘2-legged pullback’, so my plan is to wait and buy along with them.

Gold is range-bound with a triangle, telling me to fade the breakouts using failures with the '2-Try Rule' tomorrow morning.

Euro is range-bound with a triangle, so the plan is to stay patient tomorrow waiting for breakouts to fail with targets going back into the range.

Crude Oil Day Trading Strategy
Crude Oil is range-bound with a triangle after a wild session sent prices back and forth inside the range.

Ranges are very simple; sell the high, buy the low, avoid the middle, and focus on failures using the '2-Try Rule' and this is an excellent example of a strong move higher that you do NOT want to sell until you let the buyers try once more, then we can short it as it collapses back down into the range.

E-Mini S&P Day Trading Strategy
E-Mini S&P is bullish, and the slope of this channel is a big clue to the strength of this move higher, telling me that I need to be a little less patient on the next pullback and look for somewhat aggressive buying opportunities on the next ‘2-legged pullback’ into the ‘battle zone’ tomorrow.

One thing to keep in mind… when markets RUN like this, the following day is often sideways, so keep an eye out for a pullback into a double-top and then look for a Spike & Range pattern to trade from there.

E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bullish with a strong push higher today, without any real pullback to the moving-average, telling me that the next ‘2-legged pullback’ is probably going to be a nice buying opportunity so I’m waiting patiently for the pullback and proper entry trigger tomorrow morning.

Gold Day Trading Strategy
Gold is trading sideways with a triangle pattern, telling me this market is “balanced” and I need to be suspicious of all breakouts attempts because they will most likely fail and collapse back into the range.

The plan is simple, and the key is patience to wait for a breakout and then use the '2-Try Rule' to buy/sell going back into the range.

Euro Day Trading Strategy

Euro is range-bound with lower-highs and higher-lows, creating a triangle pattern, which is basically a Trading-Range, so the plan is simple; buy the low, sell the high, avoid the middle, and focus on failures using the '2-Try Rule' tomorrow morning until something can hold a breakout and begin a new trend.

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