Monday, April 30, 2018

Find the Best Trend Lines | Crude Oil, Emini, Nasdaq, Gold & Euro



“Don’t Let Yesterday Take Up Too Much Of Today.”


Crude Oil is bearish and trying to collapse back off the highs of a long-term Trading-Range, and my plan is to look for selling-opportunities using buyer-failures using the moving-average tomorrow morning…

E-Mini S&P is bearish with a Spike & Channel, telling me the most reliable selling-opportunities will come up above the channel highs tomorrow morning…

Nasdaq is bearish with a bear flag and trying to finish a measured-move target for tomorrow and my plan is to look for selling-opportunities using the "fake-out-breakout-pullback" pattern on the way down…

Gold is bearish on its way down to channel lows, and I have my eye on a key resistance trend-line for selling-opportunities tomorrow morning…

Euro is bearish with a Spike & Range pattern, telling me to focus on failures for selling-opportunities up above the range highs tomorrow morning.


Crude Oil Day Trading Strategy

Crude Oil is bearish after a strong 2-legged-move back off the highs and my goal is to look for a buyer-failure up above the moving-average for selling-opportunities going back down to the original range we started earlier today.

It’s easy to see the bulls were very strong moving higher on this chart, and I’m tempted to call this a bull market, but a quick look at the 30-minute chart from last week’s newsletter and you can see we’re still rotating back and forth inside this range…

Will the bulls go back and re-test the high, nobody knows for sure, but what I do know is this BIG Trading-Range on the chart and I’m not going to be the person who tries to buy into the highs, so I’ll wait for the buyers to prove me wrong and go from there…

E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish with a Spike & Channel pattern, telling me to look for selling-opportunities up at the high of the range, or even better, up above the range high using buyer-failures at the moving-average…

If price continues to sink lower, we know the measured-move is most likely the target, so assuming a strong run lower (below the channel) my plan will then be more aggressive, looking for traps above prior swings.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish and trying to finish a measured-move and rotation down to the channel low, but this Spike & Range pattern has me concerned…

This short-term trading-range (or maybe a bear flag) tells me that selling low isn’t going to be very reliable…

My goal is to sell ABOVE this short-term trading-range, but if price keeps pushing lower I’m looking for an opportunity to use the LOW of the range as resistance after a strong push lower…

Gold Day Trading Strategy

Gold is and trying to finish rotation back down to the low of this channel we discussed in last week’s newsletter…

The market is bearish, which means I’m looking for selling-opportunities using resistance levels overhead, and this trend-line drawn off the lows will make an excellent area of interest, but in all reality…

I would really like to sell ANY buyer-failure back above the moving-average, and if price continues pushing lower, I’m going to find a new short-term channel and sell the highs on the way down the major lows.

Euro Day Trading Strategy

Euro is bearish with a Spike & Range pattern, telling me to look for selling-opportunities using buyer-failures up above the high of the range…

But more importantly, I need to avoid trying to sell below the lows because I can see that sellers have previously tried and failed…


If price pushes lower I need to see STRENGTH first, and then look for selling-opportunities after a pullback on the way down to the measured-move target waiting below.

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