Wednesday, September 5, 2018

Avoiding the Stop-Run | Crude Oil, Emini, Nasdaq, Gold & Euro


“The best way to predict the future is to create it.”  – Joseph James


Crude Oil is bearish with a wedge pattern, telling me to look for selling-opportunities using buyer-failures and traps up near the highs of the wedge…

E-Mini S&P is range-bound with a triangle, telling me to focus on failures to buy the low and sell the high until we see a successful 123-Breakout…

Nasdaq is bearish with a Spike & Range, telling me to keep looking for selling-opportunities using the '2-Try Rule' up above the range high…

Gold is bearish with a flag pattern, telling me to look for selling-opportunities using a breakout-pullback to the downside…

Euro is bullish with a strong bull run into a range to finish today’s session, telling me to look for buying opportunities using seller-failures below the range low tomorrow morning...


Crude Oil Day Trading Strategy

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

The range comes in the wake of yesterday’s big collapse lower, giving the bears the edge over the bulls for the time being… telling me to look for selling-opportunities up above the highs of the range…

And what better place to sell than at the high of a channel, which aligns nicely with the range-expansion levels overhead…

The only thing we really need to watch tomorrow is the TIME – I like to trade Crude Oil as early as possible on Inventory Days…

I know, inventories aren’t until 11am tomorrow morning... but that still only gives me until around 1030am to get my trades taken, so time is of the essence!


E-Mini S&P Day Trading Strategy

E-Mini S&P is range-bound with a triangle on the chart this evening…

The bears started with control, but finished the session back in the middle of the range with lower-highs and higher-lows, creating a triangle…

The triangle tells me to fade the breakouts using failure patterns, and to focus my attention on the SWINGS around the edges of the triangle tomorrow morning...


E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish with a Spike & Range on the chart this evening…

The bears started with a strong move lower, which then double-bottomed, creating the range with a bear bias…

That range tells me to sell the high using the '2-Try Rule' and that’s exactly what we got just after lunch this afternoon…

And now we’re sitting on the lows, waiting for another opportunity sell into the buyer-failure patterns as price attempts to make a run back into the range from yesterday… but only time will tell if they’re successful.

Gold Day Trading Strategy

Gold is bearish with a flag, trading-range, and round number on the chart this evening…

Gold is a bit of a head-scratcher today for sure… price-action was horrendous.

But it’s easy to see the bears took control yesterday, and the bulls simply haven’t given us enough PROOF yet to take it back… so I will keep selling this market until that changes…

This bull channel is most likely considered a flag… any time you see a sluggish, narrow and almost-flat channel AFTER a strong move down is most likely a flag, rather than a bullish reversal… so again, too early to label this as a bull market…

So the trading-range continues to be the big clue – we’re up above the highs, we saw the buyers try twice, and now we’re looking for the descent back down to re-test the lows tomorrow morning...

And with this morning’s (albeit sluggish) momentum all pointing higher, I expect to see buyers waiting below the recent low, so the selling-opportunity im looking for needs to start on strength, and get me short off the high of a hidden channel as we collapse back down to the lows again…

If price refuses to drop and instead decides to shoot higher, then I can start looking for buying opportunities off the low of a pending Spike & Channel…

Euro Day Trading Strategy

Euro is bullish with a strong run higher, trading-range, bull channel, reversal-line and measured-move on the chart this evening…

The strong run higher gets the momentum firmly on the side of the buyers, telling me that anything short of a market collapse will be seen as a buying opportunity…

And what better place to look for a buying opportunity than at support levels at the low of this channel, and the reversal-line just below the low of the channel…


And if we can get the entry long, targets are back to the high of the range, with a runner up at the measured-move waiting overhead…

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