Monday, May 21, 2018

Momentum Channel & Range Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“Progress is impossible without change; and those who cannot change their minds cannot change anything.”


Crude Oil is bullish with two channels to work with, both of them telling me exactly which entry patterns to be looking for tomorrow morning…

E-Mini S&P is bullish with a Spike & Range pattern, telling me to focus on buying with seller-failures down below the range low tomorrow morning…

Nasdaq is range-bound with a triangle pattern, so the plan is to fade the breakouts using the '2-Try Rule' at the highs and lows tomorrow morning…

Gold is bullish and hunting for a ‘pendulum swing’ target on the opposite side of last week’s trading-range, and I have my eyes on buying opportunities using the low of a new "hidden channel" tomorrow morning…

Euro is bullish with a wide channel, telling me to look for a ‘2-legged pullback’ for buying opportunities on the way back up to last week’s range high tomorrow morning…

We have some excellent range momentum moving these markets tonight, and combined with some channel patterns I have a clear and reliable trading strategy for tomorrow’s session…


Crude Oil Day Trading Strategy

Crude Oil is bullish and testing the major runner target zone, but this strong move can’t last forever, eventually buyers will stop buying and this price will pull back to support levels, where my plan is to be waiting for reliable buying opportunities tomorrow morning…

We have two channels to work with tonight – one is WIDE and one is NARROW.

The narrow channel tells me that short-term buyers will have an opportunity to buy the top of this ‘battle zone’ with relatively aggressive entry patterns such as pullbacks and traps…

But the wider channel will allow the sellers to gain momentum as price rotates back down the low, so my plan is to be more patient and use the '2-Try Rule' before buying on the way back up to the highs again…

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Range pattern as it sits on top of last week’s trading-range…

A rather interesting situation on the Emini today – the news regarding the so-called “Trade War” this weekend sent price gapping higher at Sunday’s electronic opening-bell, all the way to the opposite side of last week’s trading-range…

The amazing part is that buyers HELD the '2-Try Rule', shaking off the sellers and creating a stable range to trade with tomorrow…

The only concern at this point is – can they hold off the sellers for another day tomorrow?  Only time will tell…

My plan, at least for now, is to focus on BUYING the low of this range and SELLING the high of the range using failure patterns and the '2-Try Rule'…

The exciting part tomorrow will be if this market drops back into the range, because the ‘pendulum swing’ back down to the lows could easily be VERY strong…


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is range-bound with a triangle pattern – lower-highs and higher-lows tell me this market is still stuck in the same range from last week…

So, the plan stays the same – sell the highs, buy the lows, and avoid the middle while focusing on failures using the '2-Try Rule' until we finally see this market breakout and HOLD the move higher or lower…

Gold Day Trading Strategy

Gold is bullish and trying to finish a ‘pendulum swing’ to the opposite side of last week’s trading-range…

Yes, I know we’re trading at the high of the range, and that isn’t usually a great place to start buying, but look at the STRENGTH of this move running higher – it’s going to take more than the high of a range to stop this momentum from at least giving us one more leg higher…

And look at the narrow channel – the narrower the channel the stronger the trend, telling me to look for buying opportunities down at the low…

As for a target, the ‘pendulum swing’ and measured-move make for major resistance on the opposite side of this range, and that’s where the runner target goes…

Euro Day Trading Strategy

Euro is bullish and running back into the range from last week, and I have my eyes on buying the low of this channel.


The channel is relatively WIDE, so when the market pulls back off the highs I can expect there to be sellers trying to reverse the trend, so im looking for seller-failures down below the moving-average for buying opportunities with a target up at the high of the range.

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