Trading with “Failed Failures” | Crude Oil, Emini, Nasdaq, Gold & Euro
Join the FREE Trading Course Click Here to Download Today’s Charts
“Nobody can go back and start a new beginning, but anyone can start today and make a new ending.”
Crude Oil is bullish and trying to complete the ‘pendulum swing’ up around $76, and my plan is to use the low of a Spike & Channel to find reliable buying opportunities along the way…
E-Mini S&P is flat with a trading-range, telling me to buy the low and sell the high using ‘2-Try Rule’ and failure patterns tomorrow morning…
Nasdaq is sideways with a triangle, telling me to fade the breakouts using failure patterns tomorrow morning…
Gold is bearish with a Spike & Range pattern, so my plan is to look for selling-opportunities using the 2-Try Failure pattern above the highs…
Euro is bullish and rotating off the low of a range, and my plan is to use a “failed failure” pattern for buying opportunities going back to the high of the range…
We’re back from the Holiday Break with some big opportunities setting-up for Wednesday’s trading session…
Crude Oil Day Trading Strategy
Crude Oil is bullish with a trading-range, ‘pendulum swing’, channel, and measured-move on the chart this evening…
It’s easy to see this trading-range dominating today’s price-action, but with a ‘pendulum swing’ target waiting up around $76 and mostly bullish momentum since Monday’s morning, my focus is going to be buying support levels with the proper entry patterns until we reach that target or something changes.
Knowing this, my job is to combine support levels with entry pattern, such as the low of the range, of the low of this channel.
The one thing I need to be careful tomorrow is chasing the move higher because we’re going to start seeing sellers enter the market once we get closer to this range expansion up around 75.56.
E-Mini S&P Day Trading Strategy
E-Mini S&P is flat with a triangle, trading-range, and a pair of measured-moves and the hidden channels on the chart this evening…
Today’s price-action was back and forth, all over the place, clearly struggling to find any solid direction, which tells us the market is balanced without any real bias…
Knowing this, my job now is to identify support and resistance levels that I can use to buy low and sell high tomorrow morning…
I want to use the edges of this range, in combination with the hidden channels and measured-moves on both sides of the market.
Learn the Strategy – Join the Free Trading Course
E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is trading sideways with a triangle/range and a pair of measured-moves and hidden channels on the chart this evening…
Today’s session started bullish, then turned bearish into lunch, and finished the session going sideways in a consolidated mess…
At this point there’s no momentum, just sideways…
So my plan is to fade the breakouts using the 2-Try Failure pattern until we see something change tomorrow morning…
Gold Day Trading Strategy
Gold is bearish with a Spike & Range, hidden channel and measured-move on the chart this evening…
The Spike & Range has a bear bias, telling me to look for selling-opportunities at resistance levels overhead…
I can see the measured-move and hidden channel both coming together to give us a perfect resistance “zone” to look for buyer-failures and traps to get short off the high…
Euro Day Trading Strategy
Euro is long-term bearish, but short-term bullish with a trading-range and hidden channel on the chart this evening…
The trading-range appears to be the big clue for tomorrow, with sellers failing to hold below the range, and now seeing the momentum swing back in favor of the bulls with a target going back up to re-test the high.
The key now is to look for what I call a “failed failure pattern” which basically means that with the long-term trend being bearish I assume that sellers are waiting to sell into the next pullback to the moving-average…
That would be a good idea if the momentum wasn’t so bullish in the short-term…
So my plan is to look for buying opportunities AFTER the sellers try to sell the buyer-failure pattern… hence the name “failed failure.”
