Tuesday, August 21, 2018

Did You See This Trap? | Crude Oil, Emini, Nasdaq, Gold & Euro



“Do not judge each day by the harvest you reap, but by the seeds you have sewn.” – Robert Louis Stevenson


Crude Oil is bearish with a channel, telling me to look for selling-opportunities using a bull-trap up above channel highs, in the ‘battle zone’ tomorrow morning...

E-Mini S&P is bearish with a strong move lower, but I don’t want to chase this move so I’m looking for more reliable selling-opportunities using the high of a "hidden channel" tomorrow morning...

Nasdaq is bearish with a strong spike lower, so I’m looking for selling-opportunities using a Spike & Channel or Spike & Range pattern tomorrow morning...  

Gold is bullish with a trading-range this evening, and with price testing the ‘pendulum swing’ resistance at the high of the range, I’m looking for an opportunity to sell this market back down to range lows using the '2-Try Rule' tomorrow morning...

Euro is bullish with a strong spike higher, so I have my eyes on buying opportunities using a combination of a trap-low and a support trend-line tomorrow morning...

We’re back in the action after a wild, low-volume summertime trading session today, and with some big moves on the chart, we’re looking forward to some big opportunities in tomorrow’s trading session


Crude Oil Day Trading Strategy

Crude Oil is bearish with a strong spike higher, two tries for the bulls, and a bear channel this evening…

The strong spike higher (coming after tariff talks between the US and Russia this morning) looked like the buyers would never stop buying, but after the dust settled, the bulls tried twice to buy the pullback, and it’s easy to see the bulls left the market once it failed to re-test the highs…

The bear channel is the big clue, telling me to look for selling-opportunities using buyer-failures and traps above the channel high, with a target going back down to re-test today’s low…


E-Mini S&P Day Trading Strategy

E-Mini S&P is bearish with a strong spike lower, measured-move, "hidden channel", and reversal-line on the chart this evening…

The strong spike lower is the big clue – telling me the odds of a ‘2-legged pullback’ and a re-test of the low are extremely high…

It also tells me to keep an eye out for either a Spike & Channel, Wedge, Range, or Flag Pattern to trade with, while…

The "hidden channel", combined with the reversal-line will make for excellent resistance levels overhead for selling-opportunities back down to the lows tomorrow morning...


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish with a strong spike lower, a measured-move, reversal-line and "hidden channel" on the chart this evening…

The strong spike lower tells me to look for a potential Spike & Channel or Spike & Range pattern, while…

The "hidden channel", combined with the reversal-line, creates key resistance to use for selling-opportunities with buyer-failures tomorrow morning...

Gold Day Trading Strategy

Gold is bullish with a wide trading-range, strong bull run, ‘pendulum swing’, and measured-move on the chart this evening…

The trading-range is wide with a bull bias; the width of the range is important because it tells me there’s enough room for both the buyers and sellers to make money as price rotates back and forth, but…

The strong bull run to finish today’s session tells me that trying to SELL these highs isn’t going to be easy, so I’m better off waiting for momentum to shift lower before looking for selling-opportunities going back to the lows…

Euro Day Trading Strategy

Euro is bullish with a trading-range, strong spike higher, support trend-line and a gap on the chart this evening…

The trading-range is an important clue because you can see how the day spent most of its time today trading sideways, and even after this strong move higher you can see we’re only testing the second range-expansion level overhead…

The strong move higher is another big clue, telling me that buyers are likely going to try and get ONE MORE leg higher before allowing this market to collapse back down into the range, and I have my eyes on…

The support trend-line drawn up from the lows, combined with the previous swing-low are key support levels that I can use to participate in this next leg higher…


So yes, we have a range, and eventually we should see price back down into the range, but the strength of this move is too much to ignore, telling me to look for one more leg higher, and to get into that trade, I have my eyes on the support trend-line and the swing-low for my ‘battle zone’ tomorrow morning...

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