Monday, August 6, 2018

Best Candlestick Patterns for Day Trading | Crude Oil, Emini, Nasdaq, Gold & Euro



“If you dare nothing, then when the day is over, nothing is all you will have gained.”


Crude Oil is bullish with a Spike & Range pattern, and I have my eyes on the ‘pendulum swing’ for reliable buying opportunities tomorrow morning...

E-Mini S&P is bullish with a Spike & Channel pattern, telling me to look for buying opportunities using failure patterns down at the lows of the channel tomorrow morning...

Nasdaq is bullish and trading at the high of a channel, and I have my eyes on buying a pullback to a location with three major support levels coming together tomorrow morning...

Gold is bearish and trying to finish last week’s market's objective, and the big clue is a short-term trading-range telling me to avoid selling low and focus on selling-opportunities up above the highs tomorrow morning...

Euro is bearish and I have three clues on the chart telling me to focus on selling up above the highs of the channel tomorrow morning...


Crude Oil Day Trading Strategy

Crude Oil is bullish with a major Spike & Channel, a minor Spike & Range, a strong bear move off the highs, and a measured-move on the chart this evening…

The major Spike & Channel tells me that price is trying to rotate back down to the low of the channel where buyers will likely try to rotate back up to the highs…

The Spike & Range tells me to look for buying opportunities using the '2-Try Rule' and seller-failure patterns for rotation back up to the high…

But the big clue is the strength of this move coming off the high, which has enough momentum behind it to send this price all the way down to the Spike & Channel lows, telling me to wait for the sellers to FAIL on the next pullback before trying to buy this dip tomorrow morning...

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a Spike & Channel, prior month high and short-term trading-range on the chart this evening…

The prior month high reminds me that buying now will be buying too high, and I’m wise to wait for buying opportunities after a pullback…

The bull Spike & Channel tells me to look for buying opportunities using a DEEP pullback off the highs, and…

The trading-range makes for additional support where I can focus on waiting for buying opportunities using the '2-Try Rule' and a seller-failure pattern tomorrow morning...


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a channel, measured-move, reversal-line and trading-range on the chart this evening…

The bull channel tells me to look for buying opportunities off the lows, which lines-up nicely with the high of the short-term trading-range and the 23.25 reversal-line…

The market is bullish, so I want to buy low at support levels with a big open space overhead for a target, and the low of the channel, in combination with the reversal-line and range high appears to be a rock-solid area to look for buying opportunities using a seller-failure pattern tomorrow morning...

Gold Day Trading Strategy

Gold is bearish with a long-term channel, a measured-move, and a short-term trading-range on the chart this evening…

The bear channel had an overshoot into overshoot to finish last week, and is now trying to finish the move down to the market's objective at 1212.5, which also lines-up perfectly with the measured-move, telling me to beware selling into these lows with multiple levels of support waiting…

But the big clue is this potential short-term trading-range – you can see today’s session ended with what looks like “rejection” at the lows, telling me this will most likely turn sideways into a range tomorrow morning...

Knowing this, the market is bearish, but I don’t want to sell into these lows so I’m better waiting to sell high, up above the range high with a target down at the measured-move tomorrow morning...

Euro Day Trading Strategy

Euro is bearish with a channel, measured-move, and rising resistance trend-line on the chart this evening…

The bear channel tells me to sell off the highs for a target back down to the lows…

The measured-move tells me to avoid selling into this support area, while using the next measured-move as a target if the sellers can push lower…


And that rising resistance trend-line tells me I can use that as resistance to “sell high” tomorrow morning...

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