Tuesday, February 6, 2018

Stop Trading Your Emotions | Crude Oil, Emini, Nasdaq, Gold & Euro



“The tragedy in life doesn’t lie in not reaching your goal. The tragedy lies in having no goal to reach.”

Crude Oil is range-bound ahead of the weekly Inventory Report, so my plan is to fade the breakouts, buying low, selling high, and avoiding the middle.

E-Mini S&P is bullish with multiple Spike & Channel patterns, both of which telling me to focus on buying opportunities using the lows tomorrow morning.

Nasdaq is bullish with a Spike & Channel, telling me to look for buying opportunities with “traps” below prior support-swings tomorrow.

Gold is bearish with “three legs lower”, telling me to look for selling-opportunities after a ‘2-legged correction’ tomorrow morning.

Euro is bearish and setting-up for rotation back down to the low of the channel, but the strength of this recent move higher is telling to wait for entry using the '2-Try Rule' tomorrow morning.


Crude Oil Day Trading Strategy

Crude Oil is range-bound ahead of tomorrow’s weekly inventory report, telling me to focus on fading breakouts using the '2-Try Rule'; sell the high, buy the low, and avoid the middle tomorrow.

The news is posted @ 10:30am EST tomorrow, and my cut-off is 10:00am, so time is tight tomorrow morning, get to it early, step aside during the news, and then wait to see if the reaction is trade-able into the close @ 2:30pm EST.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with two Spike & Channel patterns and a measured-move target, telling me to wait for a pullback down to channel lows, or show some strength to new highs tomorrow.

I’m also watching for a Trading-Range tomorrow around this 2700 round-number, and with this strong “spike” into the close this afternoon, my plan is to look for buying opportunities below the range if that occurs tomorrow.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a Spike & Channel, and trading into this measured-move target tells me to look for buyers to take some profit and look for buying opportunities down near the low of the channel tomorrow morning.

We can also see the prior week closing price is starting to appear at the top of the chart, which may get people buying before it’s too late, and if that happens I’m going avoid the temptation to chase the move higher and focus on buying with “Traps” tomorrow.

Gold Day Trading Strategy

Gold is bearish with a channel and three STRONG legs lower today, telling me that we’re getting a little “low” to be selling at this point, so my plan is to wait for selling-opportunities after a ‘2-legged correction’ up in the ‘battle zone’ tomorrow morning.

Euro Day Trading Strategy


Euro is bearish and trying to rotate back down to the low of this wide bear channel, but the STRENGTH of this move higher tells me to wait for the buyers to try twice before looking for selling-opportunities tomorrow, and I have a hidden-channel support level to trade “around” on the way back lower tomorrow.

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