Wednesday, February 7, 2018

Combination Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro

“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.”

Crude Oil is bearish with a combination of a Spike & Channel and a “hidden channel” which are setting-up for great selling-opportunities tomorrow.

S&P is bullish and trading at the low of a Spike & Channel, telling me to look for buying opportunities using seller-failures tomorrow morning.

Nasdaq is bullish with a Trading-Range, telling me to look for buying opportunities after the sellers try and fail twice tomorrow morning.

Gold is bearish with another strong move lower today, and I’m watching for selling-opportunities using the reversal-line off yesterday’s low.

Euro is bearish with a strong move lower to finish today’s session, telling me that sellers will likely be looking for opportunities for another leg lower tomorrow.

Crude Oil Day Trading Strategy

Crude Oil is bearish with a Spike & Channel and a wide “hidden channel” for tomorrow.

The Spike & Channel already has three pullbacks, which is usually a sign that a larger correction is needed to attract more sellers into this market.

The hidden channel is a great add-on because it uses the lower-lows, projected up to the high for a possible resistance level tomorrow.

Combine these together, you have the bears in control, expecting a ‘2-legged correction’ off the lows, and the “hidden channel” waiting for selling-opportunities when we get there.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Channel, measured-move, and Trading-Range on the chart tonight.

The Spike & Channel tells me to look for buying opportunities off the lows with a target back up to the high.

The measured-move is a great support level, telling us we have a ‘2-legged pullback’ and should start seeing sellers take profit and buyers enter the market.

The Trading-Range is the most important.  We were bullish going into today’s range, telling me to look for seller-failures using the '2-Try Rule' for a move back up to re-test the high.

E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a Trading-Range and a Spike & Channel pattern to work with tomorrow.

The Spike & Channel tells us to buy the lows with a target going back to the high, while the range tells us to use the '2-Try Rule' for buying opportunities using seller-failures.

Gold Day Trading Strategy

Gold is bearish and trading at the high of a bear channel, telling me to start looking for selling-opportunities going back down to the low tomorrow morning.

Two important clues to consider; first, the measured-move usually gives us a ‘2-legged correction’ so we’re waiting for another leg higher.  Second, this rising support trend-line needs to be broken and re-tested as resistance for the most reliable selling-opportunities back down again.

Euro Day Trading Strategy
Euro is bearish with a strong move back down to re-test the large bear channel we’ve been using this week.

We’re trading at the lows of this channel, telling me to expect buyers to rotate back up to the highs, but the strength of this move lower this afternoon tells me that we may not get that much of a pullback off these lows, and I should be open to getting a little aggressive down here tomorrow.

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