Monday, February 5, 2018

Listen to the “Story” | Crude Oil, Emini, Nasdaq, Gold & Euro



“If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception; it is a prevailing attitude.”

Crude Oil is bearish with a Spike & Channel, and I’m using a “reverse target” to pinpoint the selling-opportunities tomorrow morning.

E-Mini S&P is bearish with a parabolic move lower, and I’m looking for selling-opportunities using one of three possible scenarios tomorrow.

Nasdaq is bearish with trend-reversal, telling me to look for selling-opportunities using a “hidden channel” tomorrow morning.

Gold is bullish, but listening to “the story” being told today, buyers are rejecting higher prices, so my plan is focus on buying the lows of a range tomorrow morning.

Euro is bearish but we’re sitting on a key support level this evening so I’m staying patient for reliable selling-opportunities up at the high of a bear channel tomorrow morning.


Crude Oil Day Trading Strategy

Crude Oil is bearish and trading at the low of a Spike & Channel pattern, telling me to look for selling-opportunities up near the highs tomorrow morning.

I’m also watching key support levels down at 62.79, using a reverse-target technique for a measured-move and plotting the best place to sell up in the ‘battle zone’ and just below the reversal-line at 64.52, so the plan is to stay patient for selling-opportunities tomorrow.


E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish after collapsing this afternoon, giving back ALL of its gains for 2018.

The bears clearly have control, but the strength of this move down has me concerned.  We know that strong moves down that happen quickly can move back higher just as quickly as they dropped, so I’m going to be watching closely in the overnight session to see how they react in Asia. 

Do they continue the bearish strength?  Do we pull-back slowly?  Do we go sideways?

I don’t want to sell the lows, so I can mark the recent lower-lows, project to the high, and look for selling-opportunities using a “hidden channel”.

I’m also watching for a Trading-Range going sideways.  Often these collapse markets just sit and go sideways, and my plan will be to sell off the highs using buyer-failures if that’s the case for tomorrow.



E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish with two strong legs lower to finish today’s session, and like all trend-reversals, I’m marking the lower-lows, projecting off the highs, and looking for selling-opportunities using a ‘2-legged correction’ into resistance tomorrow morning.

Another thing to watch for tomorrow is a possible Trading-Range…. Often these big moves lead into a Trading-Range the following day, at which point the goal will be to sell above the high of the range.

Gold Day Trading Strategy

Gold is bullish and trading at the high of a channel, but the most important clue might be the Trading-Range we found price-action struggling with earlier in the day.

The bulls had a nice strong run to start the session, they pulled-back to allow buyers to “buy low” and then re-tested the high. 

From there, however, the buyers got rejected, with BIG WICKS at the highs, and looking closer, we can see the moving-average never broke above this morning’s high, signaling that we don’t have enough proof to be buying this high, and will find more reliable buying opportunities down near that lows tomorrow morning.

The key to this chart is listening to the “story” the market has told for today, and the story says to focus on buying as low as possible, down around the range lows tomorrow.

Euro Day Trading Strategy

Euro is bearish and testing the low of a channel as it tries to complete a measured-move and re-test the prior week low tomorrow.


The bears are definitely in control, and this bear move is REALLY strong, but I don’t want to sell into this support area, so my plan is to look for selling-opportunities up around the highs of the channel tomorrow with targets at the measured-move and the prior week low.

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