Thursday, August 2, 2018

Overshoot Reversal Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“There is no such thing as failure. There are only results, and how we respond to those results will determine our level of success.”


Crude Oil is bullish with a strong spike higher, telling me to look for one of four patterns for buying opportunities tomorrow morning...

E-Mini S&P is range-bound with a bullish ‘pendulum swing’, and with such a strong move higher today, my plan is to look for buying opportunities using a pullback into the ‘battle zone’ tomorrow morning...

Nasdaq is bullish with a strong spike higher, so I’m watching for a Spike & Channel pattern so I can buy the dip using a "hidden channel" tomorrow morning...

Gold is bearish, but a large overshoot of the channel low tells me to stay patient, looking for a possible overshoot reversal back higher tomorrow morning...

Euro is bearish with a Spike & Channel pattern, and with the high of the channel aligned with the prior week low, I’m staying patient for selling-opportunities up at that key resistance tomorrow morning...

Tomorrow is Non-Farm Payroll Friday – with one of the most highly-anticipated news reports released just after the opening-bell, which means ANYTHING is possible to finish off this week, and as always…


Crude Oil Day Trading Strategy

Crude Oil is bullish with a strong spike higher, a "hidden channel", two reversal-lines, and some prior week levels on the chart this evening…

The strong spike higher tells me to look for one of four patterns tomorrow morning...

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

All of those potential patterns tell me to stay patient and buy the dip, while…

The reversal-lines at 68.40 and 68.15 will make for excellent support levels to buy low, the "hidden channel" is added support, and a target going up to the prior week high tomorrow morning...

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a strong bull run, a trading-range with ‘pendulum swing’, and prior week close on the chart this evening…

The strong bull run hasn’t pulled-back since 10am this morning, telling me that buyers are likely waiting for another opportunity to buy the dip, and…

The trading-range gives me a great target for the bulls using the ‘pendulum swing’, while reminding me not to get too aggressive up here because price will most likely end up back in the range eventually tomorrow, especially with the prior week close smack in the middle…


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a strong spike higher, a measured-move and a "hidden channel" on the chart this evening…

The strong spike higher reminds me to look for a Spike & Channel or Spike & Range, which would make sense around this measured-move resistance level…

And with such a strong move, I would assume buyers are waiting for an opportunity to buy a pullback, and I have a "hidden channel" waiting for that opportunity tomorrow morning... 

Gold Day Trading Strategy

Gold is bearish with a channel, a large overshoot, and the prior week low on the chart this evening…

The bear channel tells me to focus on selling the high, but the overshoot of the low tells me I need to be careful of the bullish momentum that will develop as we overshoot the opposite side of the channel, and let’s not forget…

If the buyers can gain enough momentum off the lows - they may run all the way back to the prior week low, which is also back inside the range from earlier this week…

Euro Day Trading Strategy

Euro is bearish with a Spike & Channel, trading-range, measured-move, and prior week low on the chart this evening…


The Spike & Channel tells me to avoid selling the low and focus on selling up off the highs, which lines-up perfectly with the high of this short-term trading-range and the prior week low all acting as resistance tomorrow morning.....

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