Wednesday, May 9, 2018

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



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Crude Oil is bullish with a Spike & Channel, but clues in the candlesticks tell me this trend is rather weak, so my plan is to look for buying opportunities after DEEP pullbacks tomorrow morning…

E-Mini S&P is bullish and trading sideways at the 2700 round-number, telling me that buyers have dried-up and I’m going to stay patient to buy the ‘battle zone’ support range waiting below tomorrow morning…

Nasdaq is bullish and testing the ‘pendulum swing’ target from last night's newsletter, and my plan is to use a new Spike & Channel for buying opportunities at the lows tomorrow morning…

Gold is range-bound with a triangle pattern, telling me to watch for failure patterns around the highs and lows tomorrow morning…

Euro is range-bound and rotating back to the lows of the range, and my plan is to look for a successful breakout-pullback to new lows, or if the sellers try and fail twice, looking for buying opportunities going back up to the highs…

We’re back in the action this evening with some strong trends, some weak trends, and even some ranges to use for tomorrow’s trading session



Crude Oil Day Trading Strategy

Crude Oil is bullish with a Spike & Channel pattern as the buyers try to reach a large measured-move target tomorrow…

But this trend looks very weak, the channel is almost flat, and you could easily say this was a range as well…

This tells me to be careful trying to buy too high tomorrow because clearly the buyers have control, but they are rejecting every new high…

So my focus is buying as LOW as possible, and I have my eyes on the ‘battle zone’ range to do that tomorrow morning…

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Channel pattern after a strong move sent prices racing back to the 2700 round number…

The bulls clearly have control, and the objective is the measured-move target overhead, but I want to buy at support, so I’m looking for buying opportunities below this short-term trading-range, preferably down at the lows of this Spike & Channel tomorrow morning…


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a strong move higher to finish today’s session, but looking closely we can see we’ve reached the ‘pendulum swing’ target from last night's newsletter…


Knowing this, the bulls have control, and this strength will be hard to stop, but I don’t want to buy this high, I’m going to wait for a pullback to buy the low of this Spike & Channel pattern coming up from below…

Gold Day Trading Strategy

Gold is range-bound with an expanded triangle this evening, telling me the most reliable trading opportunities will using the '2-Try Rule' to buy the low and sell the high using failure patterns tomorrow morning…

One thing to watch for tomorrow is the middle of this range.  Price-action is always expected to be the least reliable in the middle of the range, so try to focus on failures around the edges of the triangle.

Euro Day Trading Strategy

Euro is bearish and range-bound this evening, telling me to sell the high, buy the low, avoid the middle, and focus on failures using the '2-Try Rule' tomorrow morning.


The bears have control, so I would rather sell off the highs than buy off the lows, but we should be able to find opportunities on both sides of the market with the right signal tomorrow morning.

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