Trading with ‘Nested’ Ranges | Crude Oil, Emini, Nasdaq, Gold & Euro
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Crude Oil is bearish with a Spike & Range pattern, telling me to focus on buyer-failures using the ‘2-Try Rule’ up above the range highs…
E-Mini S&P is bullish with a triangle, telling me to look for buying opportunities below the triangle lows tomorrow morning…
Nasdaq is bullish with a trading-range as it tries to re-test yesterday’s high, so I’m waiting for an opportunity to buy into seller-failures below the range low…
Gold is range-bound with a “nested” trading-range on the chart this evening, telling me to combine the ‘2-Try Rule’ for buying opportunities tomorrow morning…
Euro is bearish with a Spike & Channel pattern, telling me to look for selling-opportunities using buyer-failure patterns up above the moving-average…
Crude Oil Day Trading Strategy
Crude Oil is bearish with a trading-range, measured-move and reversal-line on the chart this evening…
The bears had a strong run lower today, running free of the trading-range and finishing smack on the $70 round number with a narrow trading-range…
The new range is the big clue – with a bear bias it tells me to look for selling-opportunities using the 2-Try buyer-failure pattern up above the high…
But I’d be foolish not to plan for a reversal back into the weekly range – and it all depends on how the buyers look when they try to go higher…
Do we see a strong first try to go higher? Or is it weak? What about the reaction to the moving-average? I’m going to be watching closely tomorrow morning…
And don’t forget – we’re watching the volume closely for Contract Rollover tomorrow morning… moving from the 11-18 to the 12-18 contract!
E-Mini S&P Day Trading Strategy
E-Mini S&P is bullish with a triangle/range, measured-move, and support trend-line on the chart this evening…
The buyers got the pullback they wanted, but it’s easy to see the bulls aren’t exactly thrilled with buying the highs again, causing this triangle/range to develop into today’s closing bell…
The range is the big clue, with a bull bias I don’t want to buy the breakout higher, I want to buy the 2-Try seller-failure pattern below the range low tomorrow morning…
But if price insists on punching higher, the key will be getting long with bear-traps, likely using this resistance trend-line as support, BEFORE we get to re-test the highs…
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E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bullish with a trading-range, measured-move and support trend-line on the chart this evening…
The bulls have momentum, and expected, the market pulled-back off yesterday’s highs and gave the buyers a perfect 2-Try seller-failure pattern to get long into the stops of the sellers for a rally back higher…
But the session ended in much of a trading-range – with a bull bias – telling me to avoid buying this bull breakout and wait for buying opportunities below the range tomorrow morning…
Gold Day Trading Strategy
Gold is still bullish (barely) with two trading-ranges and a support trend-line on the chart this evening…
The large range clearly shows this move lower as the second try for the bears, telling me to keep my eyes open for buying opportunities once this exhaustion push runs out of momentum…
It’s the range inside the range (what most price-action traders would call a “nested” range) that’s the big clue…
The nested range started with bull momentum, so now as price tries to go lower, I can assume that buyers are looking for a 2-Try seller-failure pattern for buying opportunities going back up into the larger range tomorrow morning…
Euro Day Trading Strategy
Euro is bearish with a Spike & Channel, measured-move and round number on the chart this evening…
The bears have the momentum, and the Spike & Channel tells me to look for selling-opportunities up around the highs of the channel tomorrow morning…
If price pulls back, the ideal situation is to wait for a 2-Try buyer-failure pattern just above the moving-average with a target going back down to re-test the lows…
If price keeps pushing lower, then we know the 15,000 round number is working as a psychological price-magnet – then we need to get more aggressive – looking for bull-traps up above the next swing-highs as we go lower…
