My #1 Trading Rule

“Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.”

Crude Oil is bearish and trading at the low of a range, but with such strong momentum I would expect another leg lower, and I’m using the high of a hidden channel to find the entry tomorrow morning.

E-Mini S&P is bullish, but with price finishing at a key resistance level, I’m waiting for a more reliable buying opportunity after a deep ‘2-legged pullback’

Nasdaq is bullish and trading at the high of a range, which tells me I should be able to get another leg higher, while keeping my options open for a collapse back into the range later in tomorrow’s session.

Gold is bearish with a 123-Reversal pattern, so I’ve located the hidden channel and waiting for the entry pattern.

Euro is bearish with a wide channel, so I’ve added the mid-line and waiting for entry patterns to finish the ‘pendulum swing’ target waiting below.

Crude Oil Day Trading Strategy

Crude Oil is bearish with a trading-range, Spike & Channel, hidden channel, and measured-move on the chart tonight.

The momentum is bearish, which means I should look for selling-opportunities at resistance levels.

But it’s also important to look where we are – at the low of a wide trading-range.

The momentum tells me I should be ok to sell at least another leg lower, but I need to wait for a pullback off the lows first, because I don’t want to sell into the low of this trading-range.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a channel and measured-move on the chart tonight.

The bulls have the momentum, which tells me to focus on buying support levels below this channel.

I’m also going to keep an eye on a possible range top, because it’s easy to see this short-covering rally finished back at today’s higher and may struggle to push higher.

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E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bullish with a trading-range, channel, and measured-move on the chart this evening.

The bull momentum tells me to focus on buying at support levels with a deep pullback off the high.

The trading-range, however, reminds that I can’t get greedy on my target, with my focus on a small scalp going higher before we anticipate price to collapse back into the range again tomorrow morning.

Gold Day Trading Strategy

Gold is bearish with a clear 123-Reversal, Spike & Channel, and resistance trend-line on the chart tonight.

The 123-Reversal, combined with the fact that buyers can’t keep price above the moving-average tells me the bears have the momentum and I should focus on selling at resistance levels.

I have the resistance trend-line along with the high of the hidden channel to use as key resistance, I just need to find the entry pattern to complete the measured-move target.

It’s also easy to see the long-term bull trend on this channel, which reminds me to keep my eyes open to a bullish 123-Reversal as well, which will give us another opportunity to buy a pullback before we re-test the 56.6 highs.

Euro Day Trading Strategy

Euro is bearish with a strong spike lower, a trading-range, and a hidden channel on the chart this evening.

The trading-range is the big clue, and it’s easy to see price rotating from the high down to the low with a ‘pendulum swing’ target waiting around 13,000.

The strong spike lower tells me the momentum is with the bears, which means I need to focus on selling at resistance levels overhead.

And with this hidden channel being so large, I think the mid-line of the channel will be the most reliable area to start looking for selling-opportunities tomorrow morning.