Wednesday, April 11, 2018

Hidden Trend Line Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro

“Success Does Not Consist in Never Making Mistakes, But in Never Making The Same Mistake A Second Time.”

Crude Oil is bullish and I have my eyes on the lows of a channel for buying opportunities tomorrow morning.

E-Mini S&P is range-bound with a triangle, which tells me to focus on failures to sell the high and buy the low in tomorrow’s trading session.

Nasdaq is bullish with a wedge pattern, and as this wedge gets narrower I start looking for a deep pullback for buying opportunities in the ‘battle zone’ tomorrow morning.

Gold is bearish and I’m using a "hidden channel", combined with a reversal-line for reliable selling-opportunities tomorrow morning.

Euro is bullish with a wide, almost flat channel, telling me to look for buying opportunities off the lows of the channel starting with seller-failures tomorrow morning.

Crude Oil Day Trading Strategy

Crude Oil is bullish with a channel and measured-move to work with tonight.

The bull channel tells me to look for buying opportunities at the lows and the measured-move will be a great target up near the high of the channel tomorrow.

The only challenge is the falling resistance trend-line coming down overhead.

To avoid buying into this resistance level I want to see price either pull back further (down into the ‘battle zone’) or run higher above the trend-line so I can use it as support.

Its also important to remember that this move higher was caused by the weekly inventory report, which tells me that this could easily collapse back down to where the move started, but before we go trying to sell, we need to see some STRENGTH for the bears.

E-Mini S&P Day Trading Strategy

E-Mini S&P is range-bound with a triangle pattern, telling me to buy the low, sell the high, avoid the middle, and focus on failures for trading opportunities tomorrow morning.

Another scenario to keep an eye on tomorrow will be a collapse back down to the low of the larger Trading-Range, which would most likely give the bears short term control, at which point we won’t be able to trust buying with seller-failures, but rather will need to wait for a strong move back higher before buying pullbacks.

E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a wedge pattern, which tells us everything we need to find buying opportunities tomorrow morning.

First, the wedge tells me to stick with the buyers until they complete their mission.

Second, the mission is to get up to the vertex of the wedge, but most importantly, and the third important aspect, is how NARROW the wedge is getting, which tells me that most traders will avoid trading inside the wedge and will look for buying opportunities down below the wedge lows.

Last, but certainly not least, when we get the pullback, the best buying opportunities will come starting with seller-failures at support levels, and I have the ‘battle zone’ watching for that as well.

Gold Day Trading Strategy

Gold is bearish with a dramatic “V Top” pattern off today’s high, and these types of patterns often go all the way back to where the move started, which is back at this morning’s opening price below us.

This trend reversal is an easy clue to use a "hidden channel", and the reversal-line at 57.9 will make for some excellent resistance to use for selling-opportunities tomorrow morning.

Euro Day Trading Strategy

Euro is bullish and pulling back off the measured-move, and just like most measured-move targets, we can expect a ‘2-legged pullback’ before the buyers try re-testing the highs again.

The challenge at this point is getting up above this falling resistance trend-line, so we have two options.

First, we can get buy pullbacks above the trend-line, or second, we can look for another leg lower and look for seller-failures into buying opportunities going back up from there.

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