Thursday, February 15, 2018

Short-Covering Rally Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.”


Crude Oil is bullish after a perfect ‘2-legged pullback’ and re-test of the high, and now we need to see either “acceptance” or “rejection” before buying more tomorrow.

E-Mini S&P is bullish with a short-covering rally, trying to reach the prior week high, and a Spike & Channel pattern tells me to look for buying opportunities with a ‘2-legged pullback’ tomorrow morning.

Nasdaq is bullish and trying to finish rotation to the high of a channel, and this strong bull run today tells me to wait for buying opportunities with pullbacks to support levels below the moving-average tomorrow.

Gold is bullish with a Spike & Range pattern, telling me to look for buying opportunities using the "fake-out-breakout-pullback" pattern tomorrow.

Euro is bullish with a Spike & Range pattern, telling me to look for seller-failures below the range for buying opportunities tomorrow morning.

We have some strong trends, a possible short-covering-rally, Trading-Ranges, and weekly levels on the chart for tomorrow, setting up for an awesome opportunity to earn some profit to finish the week ahead of a Holiday Weekend.


Crude Oil Day Trading Strategy

Crude Oil is bullish after a beautiful ‘2-legged pullback’ followed by seller-failure at the moving-average and a re-test of today’s high.

This is a great example of the bulls reaching their short-term “objective”.  If they push through the high we can assume they want to run to the top of the channel and possibly a BIG measured-move target for next week.

If they can’t push through the high, we expect to see the bulls take profit, which will result in a ‘2-legged pullback’ and I will be looking for buying opportunities at support levels waiting below.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish and racing higher with a short-covering rally towards the prior week high, and with a Spike & Channel pattern, I know the best trading opportunities will be on ‘2-legged pullbacks’ below the moving-average tomorrow morning.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish and trying to finish rotation up to this massive bull channel, but the prior week high will likely become a price-magnet that will be hard to avoid.

The bulls have control with a STRONG run higher, a possible short-covering rally from earlier this month...telling me there will be great buying opportunities when price gets below the moving-average, so I’m looking for traps and seller-failures at support levels for trading opportunities tomorrow morning.

Gold Day Trading Strategy

Gold is bullish with a Spike & Range pattern, just above the prior week high, and trying to reach the prior month high tomorrow.

The bulls have control, but I don’t trust buying into the highs because the buyers tried and failed multiple times earlier in the today’s session, so my plan is to wait for PROOF of a successful breakout or look for reliable buying opportunities using the '2-Try Rule' down below the range low.

Euro Day Trading Strategy

Euro is bullish with a Spike & Range pattern, trading sideways at the prior week high, and most likely trying to push up to the prior month high if the bulls can push through this resistance area at the range highs.


The buyers have control, but we can’t trust buying the highs because we’ve seen the buyers fail before, so I’m looking for buying opportunities below the range using the '2-Try Rule' or a successful breakout-pullback to new highs tomorrow.

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