Thursday, August 9, 2018

Best Entry Trigger Tomorrow | Crude Oil, Emini, Nasdaq, Gold & Euro



"When popular opinion is nearly unanimous, contrary thinking tends to be most profitable.  The reason is that once the crowd takes a position, it creates a short-term, self-fulfilling prophecy. But when a change occurs, everyone seems to change their mind at once."


Crude Oil is bearish and trying to re-test yesterday’s low, and to avoid chasing this move lower, my goal is to look for selling-opportunities using a buyer-failure pattern up at a key resistance trend-line tomorrow morning...

E-Mini S&P is bearish as it collapsed back to the lows of the range, and this strong momentum tells me to expect one more leg lower, and I have my eyes on selling the high of a new channel coming down overhead…

Nasdaq is bearish and trying to complete the ‘pendulum swing’, and I have my eyes on selling-opportunities using a new "hidden channel" tomorrow morning...

Gold is bearish and hunting for the low of the range, and I have my eyes on a qualified channel for selling-opportunities up at resistance tomorrow morning...

Euro is bearish with a strong spike lower, telling me to look for one of four spike patterns for selling-opportunities with a measured-move target tomorrow morning...


Crude Oil Day Trading Strategy

Crude Oil is bearish with a strong spike lower, a resistance trend-line, possible Spike & Channel, and a measured-move on the chart this evening…

The strong spike lower (from yesterday) tells me the bears are trying to re-test the 66.32 lows, and I want to find more ways to participate with this move, without chasing this move lower, which is why…

I’m watching this falling resistance trend-line coming down overhead and up from below, both of which will be excellent places to look for buyer-failures and selling-opportunities, with a target back down at yesterday’s low and possible a runner to the measured-move tomorrow morning...

E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish with a trading-range, strong bear move, and a "hidden channel" to work with this evening…

The trading-range tells me to buy the low of the range using the '2-Try Rule', but the strong move lower for the bears, combined with the potential for a "hidden channel" tells me to wait for momentum to swing back in my favor before trying to buy this market tomorrow morning...

My plan is to look for a selling-opportunity using this "hidden channel" for the second leg lower, THEN I’m looking for the pendulum to swing back to the buy-side where I can buy the pullback to the moving-average once we see some strong bullish price-action…


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish with a trading-range, strong bear run and "hidden channel" on the chart this evening…

The trading-range has a beautiful two-try failure coming off the high, and using the ‘pendulum swing’ I can see plenty more room to push lower in tomorrow’s session, so all I need is to find some reliable resistance levels…

Which is where the "hidden channel" comes into play – giving me resistance I can look for buyer-failures and traps to sell back down to the lows tomorrow morning...

Gold Day Trading Strategy

Gold is bearish with a trading-range, wide bear channel, narrow bear channel, and a falling resistance trend-line on the chart this evening…

The trading-range is the big clue – telling me to sell off the highs with a target going back down to the low, and a runner target using the ‘pendulum swing’…

The bear channel is also a big clue – it’s a qualified channel, meaning it has four tests, 45-degree angle, nice and narrow – telling me to look for a 50% pullback, which just happens to line up with this falling resistance trend-line for selling-opportunities going back down to range lows tomorrow morning...

Euro Day Trading Strategy

Euro is bearish with a strong bear spike, two "hidden channels” and a measured-move on the chart this evening…

The strong bear spike tells me to look for a deep, ‘2-legged pullback’ before selling-opportunities going back down to the low, and…

It also tells me to look for one of four spike patterns…

1.    Spike & Channel
2.    Spike & Wedge
3.    Spike & Range
4.    Flag

There are also two "hidden channels", drawn by connecting the most recent lows to create hidden resistance trend-lines waiting overhead, and…

If we get the bounce off the lows, the profit target for the sellers will be the measured-move, measured using the first push lower earlier this morning…

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