Monday, January 29, 2018

Measured Pullback Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



"Do not hope for an easy life, work hard to achieve the strengths and skills to endure a difficult one."

Crude Oil is range-bound and I’m looking for buying opportunities going back up to re-test the highs from last Friday’s session.

E-Mini S&P is bearish and I’m watching channel “rotation” to see if I’m using a “hidden” channel or a “major” channel for selling-opportunities tomorrow.

Nasdaq is bullish, but double-tops and double-bottoms around the 7000 level tells me to look for traps and failures using a “measured-pullback” tomorrow.

Gold is bearish ahead of contract rollover, and I’m watching a “hidden channel” for selling-opportunities up near the highs tomorrow morning.

Euro is bearish and trying to rotate back down to the low of a bear channel, but a recent bull “spike” tells me to stay patient and wait for buyer-failures after a second leg higher tomorrow morning.

I have another great newsletter for you tonight with plenty of reliable trading opportunities setting up tomorrow, we have FOMC, Rollover, Hidden Channels, and Measured-Pullbacks on the charts for tomorrow…


Crude Oil Day Trading Strategy

Crude Oil is trading in the middle of a large, multi-session triangle, and with such a strong reaction off the lows, I’m anticipating another leg higher and buying opportunities on the way back up to re-test the highs tomorrow.

One thing I’m also watching is for choppy price-action in the middle of this range, so if it gets stuck in the middle we need to sit-on-hands and “fade” the edges tomorrow morning because the middle is always the hardest place to trade inside a range.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish and recently re-tested the lows as the sellers try to develop into a larger channel and reach a large measured-move target tomorrow.

We have three (3) channels to watch on this chart.  The first channel already broke free and re-tested.  The second channel is much larger and im watching to see if they complete rotation.  The third channel is “hidden” and my plan is to draw off the lower-lows and project at the highs for a resistance level to use for selling-opportunities tomorrow.

Most important clue for now… is the second channel.  Will they complete rotation?  Once we know that, then we can plan more from there.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish and trading sideways around the 7000 round-number.  This range is a big clue, telling me that buyers are rejecting the idea of buying to higher prices, so my goal is to focus on buying as low as possible, using the '2-Try Rule' below the range tomorrow morning.

I’m also watching a “hidden channel” coming off the highs, trying to use the low of the channel, combined with a measured-move as support for buying opportunities tomorrow.

Gold Day Trading Strategy

Gold is bearish and trading at the low of a multi-session channel, telling me to focus on selling-opportunities up near the HIGHS of this channel, rather than trying to mess with these lows tomorrow.

I’m always watching a possible “hidden channel”, drawing off the lower-lows and connecting up to the high to be used a resistance for selling-opportunities tomorrow morning.

It’s also important to remember that we’re watching rollover for tomorrow, keep an eye on the volume shifting from the 02-18 over to the 04-18 contract overnight and into tomorrow’s session.

Euro Day Trading Strategy


Euro is bearish and trying to rotate back down to the low of a bear channel, but a recent push higher has so much strength that we can expect a second leg higher, setting-up for buyer-failures up near the top of the range, and the potential for a full trend-reversal for the bulls tomorrow.

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