How to Qualify a Breakout | Crude Oil, Emini, Nasdaq, Gold & Euro

“Your time is limited; don’t waste it living someone else’s life. Don’t let the noise of other’s opinion drowned your own inner voice. And most important, have the courage to follow your heart and intuition, they somehow already know what you truly want to become. Everything else is secondary.” –Steve Jobs

Crude Oil is bearish with a triangle, telling me to focus on failures for selling-opportunities above the range tomorrow morning…

E-Mini S&P is bullish with a strong breakout of a range, telling me to look for a seller-failure pattern below the moving-average for one more leg higher…

Nasdaq is range-bound and trying to breakout above the range high, so I’m waiting for the 2-Try Failure to sell back into the range tomorrow morning…

Gold is bearish with a Spike & Channel, but what really gets me excited is an opportunity to sell off a hidden resistance trend-line coming down overhead…

Euro is bearish and just about to finish a major objective, which tells me we’re running low on open space, so I need to focus on traps and buyer-failures for the most reliable selling-opportunities…

Crude Oil Day Trading Strategy

Crude Oil is bearish with a triangle and measured-move ahead of tomorrow’s weekly inventory report…

The range is the big clue – telling me to fade the breakouts – buying low and selling high, with a focus on buyer-failures above the range for selling-opportunities going with the momentum…

The only concern we have is the weekly inventory report, which is always a big variable going into Wednesday’s session – so my goal is to find opportunities as early as I can, sit-on-hands around the news, and possible see some opportunities after 11am EST after the dust settles tomorrow morning…

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a trading-range, channel, and measured-move on the chart this evening…

The bulls have the short-term momentum with this strong push higher, telling me I can expect to see (at least) another leg higher, possibly up to re-test yesterday’s high…

It’s also important to remember this market spent today in a range, which means I’m going to be watching the next pullback to see if the momentum wants to shift back to the bears, and if it does, then I’m looking for a bull-trap to sell it back down into the range we came from today.

Learn the Strategy – Join the Free Trading Course

E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is sideways with a trading-range, and measured-move on the chart this evening…

The bears took it lower yesterday, then the bulls took higher into a range today, giving us a relatively neutral tone to this momentum this afternoon…

Knowing this is a range, my plan is to sell above the high using a 2-Try buyer-failure pattern, while keeping my eyes open for a possible 123-Breakout pattern for a short-covering rally up to the round number at 7000.

Gold Day Trading Strategy

Gold is bearish with a Spike & Channel, and hidden resistance trend-line on the chart tonight…

The bears have the momentum – so my plan is to look for selling-opportunities using one of my entry patterns at resistance levels…

So, I’m looking for entries above the high of this channel, especially around this hidden resistance trend-line coming down overhead…

One thing to keep in mind is the trend is rather weak, so im expecting a relatively strong pop higher before we get short going back to the lows tomorrow morning…

Euro Day Trading Strategy

Euro is bearish with a channel, resistance trend-line, and measured-move on the chart this evening…

The bears have the momentum – so my plan is to look for selling-opportunities at resistance levels overhead…

I have resistance at the high of this channel and the resistance trend-line coming down from the lower-highs overhead…

The target for the sellers is a re-test of the low, and most likely a measured-move, but the challenge is going to be avoiding the temptation to sell into the low tomorrow morning… so stick to selling as high as possible.