Tuesday, July 24, 2018

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



“Stay committed to your goals, but flexible in your approach.  Life will always try to challenge your resolve, but with a positive attitude and a firm belief in yourself you can accomplish anything you set your mind to.”


Crude Oil is bullish with a Spike & Channel pattern, but location at the high of the weekly range is a horrible place to buy, so my plan is to leverage a seller-failure pattern for one more leg higher before looking to sell this market back down into the range tomorrow morning...

E-Mini S&P is bearish and trying to re-test this morning’s low but a key support trend-line is standing in our way, telling me to look for selling-opportunities using traps and buyer-failures around this trend-line tomorrow morning...

Nasdaq is bearish with a flag pattern, telling me to look for selling-opportunities up above the high of the short-term channel tomorrow morning...

Gold is bearish and trading down to the low of a triangle, telling me to focus on failures to sell the high of the triangle tomorrow morning...

Euro is bearish but a recent Spike & Channel is telling me to wait for the buyers to try and fail before selling this market back down to the low again tomorrow morning...


Crude Oil Day Trading Strategy

Crude Oil is bullish and trying to re-test the high of a recent Spike & Channel pattern, but we’re trading at the HIGH of this range, which isn’t a great place to be getting long…

The bulls have the edge, and yes, we should expect to see one more leg higher, so the plan is to look for a seller-failure pattern for buying opportunities up to the measured-move and then watch to see if we can either (a) breakout of the range with a Spike & Channel, or (b) collapse back into the range for selling-opportunities tomorrow morning...

E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish and trying to re-test this morning’s low, but a rising support trend-line is standing in our way… so we need to get AWAY from this support trend-line before we can sell this thing tomorrow morning...

The best way to sell this market is to look for either a trap-high up in the ‘battle zone’ or look for a breakout-pullback below this rising support trend-line using it as resistance.


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish with a strong move lower into a flag pattern this evening, telling me to look for selling-opportunities either up above or down below the channel tomorrow morning...

The ideal selling-opportunities with flags is to get short ABOVE the channel high using a buyer-failure pattern… but if we don’t see that opportunity, the next best option to sell the breakout-pullback using the channel low as resistance tomorrow morning...

Gold Day Trading Strategy

Gold is bearish and trying to rotate down to the low of what appears to be a triangle forming into the end of July…

The sellers have the edge at this point, and this bullish Spike & Channel tells me that buyers are going to try and buy this dip… so the failure of the Spike & Channel is going to be our best option for selling-opportunities using traps and buyer-failures up above the moving-average tomorrow morning...

Euro Day Trading Strategy


Euro is bearish and trying to re-test this morning’s low, but buyers are trying to re-test the high of this short-term Spike & Channel, which tells me the most reliable selling-opportunities will be AFTER I see these buyers fail to re-test the high… so my plan is to look for buyer-failure patterns up above the moving-average with a target down at the low tomorrow morning...

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