Thursday, March 8, 2018

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



“The ultimate reason for setting goals is to entice you to become the person it takes to achieve them.”


Crude Oil is bearish with a Spike & Channel pattern, telling me to focus on buyer-failures up around the channel highs tomorrow morning.

E-Mini S&P is bullish ahead of contract rollover, but we’re a little too close to the target waiting overhead, so my plan is to avoid buying too “high” and focus on traps and seller-failures for buying opportunities tomorrow.

Nasdaq is bullish with a Spike & Range pattern, telling me to focus on failures down below the range or wait for a successful breakout-pullback to new highs tomorrow morning.

Gold is bearish with a Spike & Channel pattern, telling me to look for buyer-failures for selling-opportunities off the channel highs tomorrow.

Euro is bearish with a strong “spike” going lower, which gives me just enough information to find resistance levels I can use for selling-opportunities tomorrow morning.


Crude Oil Day Trading Strategy

Crude Oil is bearish with a Spike & Channel and possibly "hidden channel" setting-up for tomorrow’s session.

The bears have control, and this Spike & Channel tells me the most reliable selling-opportunities will come up near the highs of the channel, preferably above prior swings tomorrow morning.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish and trying to finish the measured-move and possibly re-test the prior week open tomorrow morning.

The market is bullish, but this is a good example of price being a little too close to the “market’s objective” which tells me this would be considering “buy high”, so my plan is to now start looking for traps below prior swings, seller-failures below the moving-average, anything that allows me to buy at SUPPORT rather than at resistance.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a Spike & Range pattern and trying to break higher to reach the 7000 level tomorrow morning.

The Spike & Range is a big clue, telling me I can’t buy the high, but I can buy the low with seller-failures, or wait for a successful breakout-pullback for buying opportunities tomorrow morning.

Gold Day Trading Strategy

Gold is bearish with a Spike & Channel pattern, telling me to look for selling-opportunities up off the highs of the channel tomorrow morning.

I can also see the prior week closing price is just above me, so the plan is to look for selling-opportunities up at resistance, but I also need to keep an eye out for a possible Trading-Range developing around the prior week close as well.

Euro Day Trading Strategy

Euro is bearish with a strong spike lower to finish today’s session, telling me the bears have control, but not giving me much information to use for tomorrow.

Knowing this, I’m connecting the lows and copying that up to the highs to create a "hidden channel" resistance area overhead so I can look for selling-opportunities tomorrow.


I also know that strong moves in one direction will usually be sold aggressively when it pulls back to the moving-average, so I may not get that big of a pullback, so I’m waiting for the pullback and will look for selling-opportunities down from there.

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