December 12, 2017
- in Uncategorized by schooloftrade
Blow-Off Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro
“Nobody can go back and start a new beginning, but anyone can start today and make a new ending.”
Crude Oil is bullish with a wedge pattern, telling me to wait for “traps” down below prior swings with a measured-move target waiting overhead tomorrow.
S&P is bullish, but a recent “blow-off” candle to finish today’s session is telling me to be patient for a deep pullback down to major support before looking for buying opportunities tomorrow morning.
Nasdaq is bullish with a “blow-off” through the highs of a bull channel, telling me to look for s steep ‘2-legged pullback’ down to the ‘battle zone’ for buying opportunities tomorrow.
Gold is bearish with two channels, one of them telling me exactly where to be looking for selling-opportunities tomorrow morning.
Euro is bearish and trying to re-test Friday’s low and I’m watching a key resistance trend-line to use for the entry tomorrow morning.
Crude Oil Day Trading Strategy
Crude Oil is bullish with another Spike & Wedge pattern, and with the wedge getting a little too narrow to trading within, my plan is to look for a ‘2-legged pullback’ for “traps” below prior bull swings tomorrow morning.
E-Mini S&P Day Trading Strategy
E-Mini S&P is bullish with a “blow-off” candle to finish the session, which tells me to expect a rather sharp correction lower, or a possible Trading-Range going sideways tomorrow.
The bottom line, I don’t feel like buying the high of this 2-day Spike & Channel so I’m waiting for more reliable buying opportunities down at the lows, hopefully in the ‘battle zone’ tomorrow morning.
E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bullish with a “blow-off” through the high of a channel, telling me that this market is either transitioning into a much steeper channel (possible a Spike & Channel), but if not, we will likely see rotation back down to the low of the channel where I will be looking for buying opportunities off the lows.
Gold Day Trading Strategy
Gold is bearish with two channels; one is very wide, and the other very narrow. Wide channels are unreliable because the momentum of the market is so strong as we finish the move back down to the lows, that’s it’s UNLIKELY we rotate all the way back up to the high, so I’ve added the 50% midline and will use that as resistance to look for selling-opportunities tomorrow morning.
Meanwhile, the narrow channel is far more reliable, telling me to look for selling-opportunities up around the moving-average tomorrow morning, with a target going back down to the low.
Euro Day Trading Strategy
Euro is bearish after collapsing off today’s high, so my plan is to look for selling-opportunities using this falling resistance trend-line, up above the moving-average for a target going back down to re-test Friday’s low.
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