Tuesday, April 3, 2018

Who Has Control? | Crude Oil, Emini, Nasdaq, Gold & Euro



“Bet on your strengths. It’s an underrated business strategy in a world where so many people are obsessed with fixing their weaknesses they give short shrift to the skills they were born with.”


Crude Oil is bearish with a flag pattern ahead of tomorrow’s inventory report, telling me to look for selling-opportunities using buyer-failures up above the highs tomorrow morning.

E-Mini S&P is bullish and back inside last week’s range, and a small Spike & Range pattern tells me to look for buying opportunities using traps tomorrow morning.

Nasdaq is bullish and running back into the range from yesterday, but resistance levels overhead tell me to focus on failures and traps below the moving-average for buying opportunities tomorrow morning.

Gold is bearish and headed back to Monday’s low, but it’s the recent BUYERS that provide the most important clue for selling-opportunities tomorrow morning.

Euro is bearish, but we’re trading at the low of the megaphone pattern, so my plan is to look for seller-failures and buying opportunities back into the range tomorrow morning.


Crude Oil Day Trading Strategy

Crude Oil is bearish (and quite choppy) with a flag pattern ahead of tomorrow’s weekly inventory report.

Flag patterns are tricky, the overall trend is bearish, so sellers will be looking for opportunities to sell into buyer-failures as price goes higher, but they need to be careful selling short below channel lows because you can assume that buyers will be waiting.

Looking at the choppy price-action on this chart, I assume there will be scalping opportunities at both the highs and lows of this channel tomorrow, waiting for a strong break higher or lower to give us confidence trading in the direction of the breakout.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a strong move back into last week’s range, and this short-term Spike & Range pattern, combined with a measured-move resistance level tells me the most reliable buying opportunities will down below the range lows tomorrow morning, and I have a "hidden channel" waiting to be used as key support for the trade.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish after sellers tried and failed twice to re-test Monday’s low, and with a recent trap of the lows, the buyers are ready to send this price back into the original Trading-Range from last week.

The challenge at this point is to avoid chasing this move higher, remember this is a RANGE, so I’m looking for buying opportunities with traps and seller-failures below the moving-average to accomplish that tomorrow morning.

Gold Day Trading Strategy

Gold is bearish and trying to finish a measured-move back down to Monday’s low, and a strong move back to the highs of this channel tells me to let the buyers try to re-test, then start selling into their failure tomorrow morning.

Euro Day Trading Strategy


Euro is bearish, but trading at the low of this megaphone pattern is a HORRIBLE place to look for selling-opportunities, so my plan for tomorrow is to wait for these sellers fail and then look for buying opportunities going back up into the range.

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