Thursday, July 12, 2018

Wedge Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“One reason so few of us achieves what we truly want is that we never direct our focus; we never concentrate our power. Most people dabble their way through life, never deciding to master anything in particular.”


Crude Oil is bearish with a Spike & Channel pattern, telling me to look for selling-opportunities using the '2-Try Rule' and seller-failures at the high of the channel tomorrow morning...

E-Mini S&P is bullish with a Wedge pattern, telling me to look for buying opportunities using seller-failures at the low of a "hidden channel" tomorrow morning...

Nasdaq is bullish with a Spike & Channel pattern, telling me to look for buying opportunities after a DEEP pullback down to the ‘battle zone’ tomorrow morning...

Gold is bearish, but the sellers are “boxed-in” after their 2nd try failed to re-test today’s low, so I’m looking for buying opportunities ahead of a short-covering-rally back to the weekly close tomorrow morning...

Euro is bearish with a Spike & Range pattern, telling me to focus on selling-opportunities up above the range highs tomorrow morning...

We’re ready to wrap-up another great week of trading opportunities with a Summer Friday trading session…


Crude Oil Day Trading Strategy

Crude Oil is bearish with a large Spike & Channel pattern, which tells me to look for selling-opportunities up at the highs of the channel, but it’s important to recognize the WIDTH of this channel will allow the bulls to gain momentum, so selling-opportunities need to be used AFTER the buyers try and fail to hold the pullback to the moving-average tomorrow morning...

Knowing this, if the bulls can grab control with the '1-2-3 Reversal', I have to assume their running back to the prior week low, and my plan is to look for buying opportunities at the low of a new channel once the reversal is confirmed…

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Wedge pattern, which ran all the way to the 2800 round-number before going sideways with a range…

The bulls have control, but with measured-move, range, and wedge resistance levels all stacking-up at this area, my plan is to look for more reliable buying opportunities down at support levels, such as the low of a "hidden channel" tomorrow morning...


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a strong Spike & Channel pattern, all the way up to the triple-up target this evening…

This market is clearly bullish, but the lack of the any decent pullbacks today tells me there are a LOT of buyers still waiting to get into this move at lower price tomorrow morning...

Knowing this, my plan with a Spike & Channel is to look for buying opportunities down near the “base” of the channel, so I’m staying patient for the bulls to take profit and give us another opportunity to buy low tomorrow morning...

Gold Day Trading Strategy

Gold is bearish, but the sellers are “boxed in” after they tried (and failed) to re-test the low, giving us a higher-low, a rising support trend-line, and a big obstacle to overcome if they want any chance of running this price lower tomorrow morning...

I’m anticipating a short-covering-rally back into the range from earlier this week, but I don’t have enough PROOF to start buying yet, so I need to either wait for the run higher to confirm the new bull trend, or I can start looking for buying opportunities at the low of the channel, in hopes that sellers will chase price lower and then find themselves “stuck” on the wrong side of the move…

Euro Day Trading Strategy

Euro is bearish with a Spike & Range pattern this evening, telling me to focus on selling-opportunities using buyer-failures and the '2-Try Rule' up above the high of the range tomorrow morning...


If price continues to tumble, however, my plan is to look for a Spike & Channel pattern with a target down at the prior week low.

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