Monday, May 7, 2018

Trading with Double-tops | Crude Oil, Emini, Nasdaq, Gold & Euro

“Expect the Best, Prepare for The Worst, Capitalize on What Comes.”

Crude Oil is bullish and testing the low of a "hidden channel" pattern, so I’m looking for buying opportunities and I have my eye on a seller-failure pattern to get in on the move back to re-test the high tomorrow morning.

E-Mini S&P is bullish with a Spike & Channel, so my plan is to look for buying opportunities after a DEEP pullback off today’s highs…

Nasdaq is bullish with a wide Spike & Range pattern, and I have my eyes on a seller-failure below the range for buying opportunities tomorrow morning…

Gold is range-bound this evening, so my plan for tomorrow is to fade the breakouts using failure patterns at the highs and lows of this range…

Euro is bearish, but I have three (3) clues telling me to watch for a trend-reversal and buying opportunities tomorrow morning…

Crude Oil Day Trading Strategy

Crude Oil is bullish with a trading-range this evening, telling me to focus on failures with the '2-Try Rule' to buy below the low of this range tomorrow morning…

It’s easy to see this market is bullish in the long-term and we’ve pulled back to the low of this "hidden channel" support area, so all I need now is to see a seller-failure for buying opportunities going back up to re-test the high tomorrow morning.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Channel pattern, and just like every Spike & Channel, we know the best trading opportunities will come after a DEEP pullback off the highs, which is why this strong move lower is setting-up for a beautiful seller-failure and a move back up to re-test the high.

It’s easy to see the bulls have control, but in today’s session every new high was sold, which tells me that buyers aren’t OK with buying this high, and I should be looking for buying opportunities at a lower price tomorrow morning…

So I’ve identified my support levels using a support trend-line and the ‘battle zone’ and I’m waiting for opportunities to go back to re-test the high.

E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a Spike & Range and "hidden channel" to work with tomorrow morning.

Much like the E-Mini S&P it’s obvious that the bulls have control, but every time price attempts another higher-high the bulls get rejected…

This clue tells us that buyers are only comfortable with buying low, which is why my plan for tomorrow is going to be buying with seller-failures coming off support levels with a target going back up to re-test the high.

Gold Day Trading Strategy

Gold is range-bound with a triangle/range pattern tonight, telling me to avoid trading breakouts and focus on failures using the '2-Try Rule' tomorrow morning.

Euro Day Trading Strategy

Euro is bearish in the long-term, but this major bear channel, combined with the range from last week, combined with this bear flag are giving me clues that we have some great buying opportunities in tomorrow’s session…

It’s easy to see the market is bearish overall, but this wide channel is going to want to rotate back to the highs, which is exactly where that triangle was from last week’s session, and on top of that, you have this bear flag with the sellers recently entering with a trap-high…

My plan for tomorrow is to look for these sellers to fail and then ride this move back up into the range.

If I’m wrong and the sellers maintain control, im looking for a strong break lower so I can sell a pullback on the way down to the measured-move target below us.

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