Wednesday, January 24, 2018

Predicting the Pullback | Crude Oil, Emini, Nasdaq, Gold & Euro



“Enter every activity without giving mental recognition to the possibility of defeat. Concentrate on your strengths, instead of your weaknesses… on your powers, instead of your problems.”

Crude Oil is bullish after a wild Inventory Report this morning, and a recent spike higher is telling me to look for a pullback to a hidden channel for buying opportunities tomorrow.

E-Mini S&P is bullish after buyers bought a ‘2-legged pullback’ to the reversal-line and now looking for a Spike & Range pattern setting-up for tomorrow.

Nasdaq is bullish after a ‘2-legged pullback’ and I’m watching a “grind-break” pattern setting up for tomorrow with a target back up at today’s high.

Gold is bullish with a strong spike higher, telling me to look for one of four scenarios for tomorrow’s session.

Euro is bullish with a beautiful channel, telling me to wait for buying opportunities using a ‘2-legged pullback’ into the ‘battle zone’ tomorrow.


Crude Oil Day Trading Strategy

Crude Oil is bullish and finished today’s session with a strong spike higher, and my plan is to use the two highs and create a “hidden channel” to gauge the depth of the pullback tomorrow morning.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Range pattern, telling me to look for buying opportunities down below the range with a target going back up to re-test the highs tomorrow.

Buyers got their target we identified in last night's newsletter, followed by a ‘2-legged pullback’, and now looking for a rotation back up to the highs of this large Trading-Range.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish and trying to re-test the 7000-round-number tomorrow.

We talked about this round-number being a major target for the bulls, and we can see the profit-taking off the highs with a ‘2-legged pullback’ and now a recent “grind-break” pattern is giving buyers a chance to get in off yesterday’s low.

Keep in mind also, the sellers have already tried once to re-test the low, and they will likely try again at a higher price, so watch for a possible short-term Spike & Channel pattern for buying opportunities tomorrow.

Gold Day Trading Strategy

Gold is bullish with a parabolic move higher today, telling us that a pullback and re-test of the high is likely for tomorrow.

The challenge on this chart is the LACK of anything else beside price going almost straight higher today.  Yes, we did get ONE pullback the moving-average, and the buyers clearly bought the dip, but now we want to see this market start to balance out so we can plan our trades for tomorrow, so patience is key.

Euro Day Trading Strategy


Euro is bullish with perfect channel rotation and a recent test of the measured-move, telling me to look for buying opportunities using a ‘2-legged pullback’ down into the ‘battle zone’, or buy with “traps” on a third leg up to the 25,000 round number tomorrow.

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