Wednesday, August 1, 2018

Reversal-Line Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



“Every new day is a chance to create an incredible tomorrow.”


Crude Oil is bearish with a WIDE, almost FLAT channel, which tells me exactly where and when to be looking for reliable selling-opportunities tomorrow morning...

E-Mini S&P is range-bound and stuck in the middle of the range this evening, telling me to stay patient and buy the low, sell the high, and avoid the middle using the '2-Try Rule' tomorrow morning...

Nasdaq is bullish and rotating off the low of a range and major bull channel, but the big clue is a much smaller Spike & Channel begging me to wait to buy a bear-trap below the lows tomorrow morning...

Gold is bearish with a Spike & Channel pattern, telling me to look for selling-opportunities using buyer-failures up at the highs of the channel tomorrow morning...

Euro is bearish with both wedges and Spike & Channel patterns – telling me to focus on selling-opportunities using buyer-failures after a deep pullback tomorrow morning...

We’re looking at a big opportunity tomorrow morning – coming out of FOMC and before Friday’s Non-Farm Payroll report – tomorrow is the open space that traders are waiting for this week, and as always…


Crude Oil Day Trading Strategy

Crude Oil is bearish with a channel, measured-move, and possible wedge on the chart this evening…

The bear channel is wide and almost flat, just like a range, telling me to trade this like a range – waiting for selling-opportunities off the highs using the '2-Try Rule' and buyer-failure patterns, and…

The measured-move can be used for the target going lower, and…

The wedge is getting relatively narrow, telling me there isn’t much space to earn profit inside the wedge, and to expect a decent correction to free up more open space for the sellers as they try to get short down to the vertex target at 67.06 tomorrow morning...

E-Mini S&P Day Trading Strategy

E-Mini S&P is range-bound with a trading-range, ‘pendulum swing’, and pair of trend-lines on the chart this evening…

The range is the big clue, telling us to buy the low, and sell the high using the '2-Try Rule' and failure patterns tomorrow morning...

Meanwhile, the ‘pendulum swing’ off the high of the range reminds me to stay patient and open-minded for another leg lower to complete the move…

And the resistance trend-line coming down overhead keeps me focused on buying as close to the low of this channel as possible to avoid buying into that falling resistance tomorrow morning...


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a trading-range, major bull channel, and short-term Spike & Channel pattern on the chart this evening…

The trading-range tells me the buyers are looking for rotation back up to re-test the highs, where they will likely take profit and try to rotate back down to the low, while…

The major bull channel (which we identified last night) held as support and now price wants to rotate back up to the high... but…

The big clue is this short-term Spike & Channel pattern, telling me to look for buying opportunities using bear-traps and seller-failures down below the low of the channel for a target up to the range highs tomorrow morning...

Gold Day Trading Strategy

Gold is bearish with a Spike & Channel pattern and a measured-move on the chart this evening…

The measured-move tells me this price is too low to start selling, and I would be wise to wait for selling-opportunities up at resistance levels instead, while…

The Spike & Channel pattern tells me to look for selling-opportunities using buyer-failures and traps up above the high of the channel tomorrow morning...

Euro Day Trading Strategy

Euro is bearish with a channel and possible wedge on the chart this evening…
The channel is WIDE and you can see the mid-line of the channel acting almost like a Spike & Channel pattern…

Spike & Channel patterns tell me to look for a deep pullback, followed by selling-opportunities with bull-traps and buyer-failure patterns, while…


The wedge pattern says much of the same – look for a move higher for selling-opportunities going back down to the lows tomorrow morning...

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