Monday, March 19, 2018

Forget the WHY | Crude Oil, Emini, Nasdaq, Gold & Euro



“life shrinks and expands on the proportion of your willingness to take risks and try new things.”


Crude Oil is bullish with a Spike & Range pattern, and after a ‘2-legged pullback’ to support we are ready to re-test the high, and my focus is using “traps” for buying opportunities tomorrow morning…

E-Mini S&P is bearish with a Spike & Range, and I’m watching a key support trend-line for selling-opportunities tomorrow morning…

Nasdaq is bearish with a Spike & Range, and a short-covering-rally into today’s close is setting-up for an awesome selling-opportunity going back down to re-test the lows tomorrow morning…

Gold is bullish with a strong spike higher, telling me to look for buying opportunities down at support, but a BIG CLUE during this pullback tells me to watch out for traps from the sellers tomorrow morning…

Euro is bullish with a strong spike higher, and this trend-reversal tells me to focus on using a "hidden channel" for buying opportunities tomorrow morning…


Crude Oil Day Trading Strategy

Crude Oil is bullish with a Spike & Range pattern as buyers seem to be stuck at the measured-move target from last Friday’s session.

If you recall, we finished Friday’s session with a strong run higher into the measured-move, which usually gives us a ‘2-legged pullback’ down to support (rising support trend-line) and then a move back to re-test the high.

Well, here we are… back at the high, and it’s a bit too late to start buying now…

My plan for tomorrow is to focus on “traps” down below prior swings or wait for buyers to push THRU this measured-move resistance and keep buying pullbacks up to the next measured-move target tomorrow morning.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish with a Spike & Range pattern, telling me to look for selling-opportunities using the '2-Try Rule' and buyer-failures up above the range highs tomorrow morning.

The bears took price lower on strength this morning, down to the 2700 round number and now we’re finishing the session with sellers taking profit, known as a short-covering-rally.

This move higher looks appealing, but not after such a strong move down in today’s session, so my plan is to stay patient and wait to see if buyers can hold the next pullback…

If they can hold the pullback, then we can turn bullish and go looking for a channel to trade with…

If they cant hold the pullback, then we look for entry opportunities going back down to re-test today’s low.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish with a Spike & Range pattern going lower, telling us to most reliable selling-opportunities will be buyer-failures using the '2-Try Rule' tomorrow morning.

The sellers had full control for the entire session today, finished the move with a range, and now we’re seeing a short-covering-rally back to the upside.

This move looks quite strong, but the true test, before we even consider buying this market, is going to be the next pullback to the moving-average…

We’ve seen strong short-covering-rallies many times before, but this could easily be nothing more than a great selling-opportunity for a re-test of the low tomorrow morning, so I’m patiently waiting to see buyers fail to hold the next pullback for a drop back down to the low.

Gold Day Trading Strategy

Gold is bullish with a strong spike higher, and the reversal from Friday’s session only gives me one real option, and that is a "hidden channel".

As we’ve pulled-back to the low of this channel, however, we see this short-term Spike & Channel pattern, telling us that sellers are likely waiting for “traps” up above the prior swings…

Knowing this, my goal is to watch the sellers try to sell this back lower, and then look for buying opportunities into their stops and they cover positions before the market re-tests the highs…

Euro Day Trading Strategy
Euro is bullish with a strong spike higher, and this reversal from last week’s bearish trend tells me the most reliable buying opportunities will down at the lows of a "hidden channel".


Another important thing to remember is that any time we see a strong move in one direction, we know the best trading opportunities will come with a ‘2-legged pullback’ down to support and then the target is going back up to re-test the high.

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