Thursday, May 10, 2018

Time Your Entry Correctly | Crude Oil, Emini, Nasdaq, Gold & Euro



Click here to download today’s charts
“The major value in life is not what you get. The major value in life is what you become. That is why I wish to pay fair price for every value. If I have to pay for it or earn it, that makes something of me. If I get it for free, that makes nothing of me.” 


Crude Oil is bullish and rotating back to the high of a Spike & Channel pattern, telling me to look for buying opportunities at a key support trend-line before we re-test the highs tomorrow morning…

E-Mini S&P is bullish with a Spike & Range pattern, and I have my eyes on the low of a multi-day channel for buying opportunities tomorrow morning…

Nasdaq is bullish with a Spike & Range pattern, so my plan is to use the '2-Try Rule' to buy into seller-failures tomorrow morning…

Gold is bullish with a target at last week’s high, but I’m concerned about a possible trap above the triangle from earlier this week, so I’m looking for buying opportunities at support, while keeping my eye on a failure for a collapse back into the range tomorrow morning…

Euro is range-bound with a triangle pattern, and with price trading above the weekly range my focus will be selling-opportunities at the high of the triangle tomorrow morning…

We had an amazing session today with LOTS of movement, which often sets up for range-bound price-action the following day, telling me keep my eyes open for fake-out breakout patterns tomorrow morning…


Crude Oil Day Trading Strategy

Crude Oil is bullish and rotating back to the high of the Spike & Channel we identified in last night's newsletter…

I want to buy on the way up to the highs, but my focus is always buying at support, so I have a rising support trend-line to look for trading opportunities before we get back to the high.

Remember also… this could also be a range, so not only do I want to avoid buying into the high, I will also be looking for selling-opportunities coming back down to the lows if the buyers try twice and fail.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Range pattern at the prior month high, telling me that these buyers have reached their objective, and the best way to attract more buyers is to pull back off the highs back down to support levels below.

Knowing this, my plan for tomorrow is to look for buying opportunities using seller-failures and the '2-Try Rule' at the low of this bull channel and using the ‘battle zone’ tomorrow morning.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a strong Spike & Range pattern, telling me the most reliable buying opportunities will most likely be with seller-failures down below the low of the range tomorrow morning.

Gold Day Trading Strategy

Gold is bullish and trying to reach the prior week high, but I’m concerned about this being a possible '2-Try Rule' above the range from earlier this week so I want to avoid buying into these highs and focus on buying with seller-failures down in the ‘battle zone’ tomorrow morning.

If the buyers do fail at these highs, then the target shifts back down to the triangle where the week started.

Euro Day Trading Strategy


Euro is range-bound and trading above the high of the weekly trading-range, so my plan is to look for selling-opportunities using buyer-failures at resistance levels tomorrow morning.

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