Thursday, June 21, 2018

Trading with Traps | Crude Oil, Emini, Nasdaq, Gold & Euro



“If you do what you’ve always done, you’ll get what you’ve always gotten.  Success doesn’t happen by chance, it happens by CHANGE.”


Crude Oil is bullish and back inside the range from last night's newsletter, so my plan remains the same – keep fading the breakouts using failure patterns and the '2-Try Rule' tomorrow morning...

E-Mini S&P is bearish with a Spike & Range pattern, telling me to look for selling-opportunities up at the range highs using buyer-failures tomorrow morning...

Nasdaq is bearish with either a Spike & Range or a Spike & Channel and the next few hours of price-action is going to tell me exactly which one we get…

Gold is bullish and headed back into the range from earlier this week, and my plan is to use a "hidden channel" for buying opportunities tomorrow morning...

Euro is range-bound and up at the high of the range, so my plan is to look for selling-opportunities using the '2-Try Rule' with a target back to the lows tomorrow morning…

We’re ready to wrap-up what’s been an incredible week of trading opportunities with a Summer-Friday session tomorrow morning – which means the window of opportunity is smaller, and with trading-ranges on the charts tonight, my focus is going to be fading those breakouts tomorrow morning!


Crude Oil Day Trading Strategy

Crude Oil is bullish and back inside the range from yesterday, which tells me to look for buying opportunities with seller-failures at the lows and selling-opportunities using buyer-failures at the highs tomorrow morning...

E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish with what appears to be a Spike & Range pattern, possibly a Spike & Channel…

No matter which pattern we have, the bears have control, but its easy to see they aren’t happy with buying new lows because every time we see a new lower-low we see a big bounce back higher…

So my plan is to look for selling-opportunities, but only after a nice deep pullback up to resistance levels tomorrow morning...


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish, but a recent re-test of this morning’s low doesn’t give me enough PROOF that this market wants to keep pushing lower…

So my plan is to wait for more information – if we run higher this becomes a range, but if it keeps running lower it turns into a Spike & Channel…

If we see the pop higher, then I’m focused on selling-opportunities using buyer-failures with the '2-Try Rule'… and if we get the Spike & Channel, then my focus is selling just above the channel high using traps…

Gold Day Trading Strategy

Gold is bullish after the sellers failed and buyers took control shortly after the opening-bell in the US session this morning…

And knowing that we start the week in a range, I’m looking for buying opportunities at the low of this channel with a target going back up to the range highs tomorrow morning...

Euro Day Trading Strategy


Euro is range-bound and trading at the high of the range this evening, which tells me to look for selling-opportunities using buyer-failures on the way back down to the low of the range tomorrow morning…

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