Trading Non-Farm Payrolls

“Life does not get better by chance. It gets better by change.” 

Crude Oil is bullish and trading in the middle of a triangle, which makes my job easy, looking for buying opportunities using seller-failures below the range low.

E-Mini S&P is bearish with a strong channel going lower, which tells me to look for a 2-Try Failure pattern to sell into bullish breakouts near the high of the channel.

Nasdaq is bearish with a wide, almost flat channel, which tells me to treat this market like a range, selling off the highs using failure patterns.

Gold is bullish with a strong push higher, so I’m looking for buying opportunities and I have my eye on the low of a hidden channel.

Euro is bullish and I’m looking for buying opportunities at key support levels before we get back to the 15,000 “round number”.

Back in the action tonight, this time getting prepped for tomorrow’s Non-Farm Payroll report to finish off this first week of 2019!

Crude Oil Day Trading Strategy

Crude Oil is bullish with a triangle, Spike & Channel, and measured-move on the chart tonight.

The bulls have the momentum, which tells me to look for buying opportunities at support levels, such as below the low of this triangle.

The little Spike & Channel is also an important clue because those types of patterns usually give us a nice deep pullback that FEELS like a reversal.

If we can get that deep pullback, then I’m going to look for the seller-failure pattern and look for buying opportunities back into the range.

E-Mini S&P Day Trading Strategy

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

The bears have control, which tells me to look for selling-opportunities at resistance levels, such as the high of this channel overhead.

One thing that stands out to me on this chart is how wide and almost flat this channel is, which tells me that a run back to the high of the channel is likely going to give the momentum back to the bulls, so I need to be patient and look for selling-opportunities after I see the buyers try twice off the highs.

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E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish with a channel, measured-move and the previous low on the chart tonight.

The bears have the momentum so my plan is to look for selling-opportunities up at resistance levels overhead, and I love the way the battle-zone lines up with the high of this bear channel.

One thing to keep in mind, the channel is flat and wide, which means it’s best to trade this like a range, waiting for the buyers to try and push higher, then selling into their stops using the 2-Try Failure pattern.

It’s also important we avoid selling new lows because if you recall from last night’s newsletter, the prior day low as the main objective and we need to see PROOF of the bearish move lower before we can trust anything to the sell side.

Gold Day Trading Strategy

Gold is bullish with a channel, hidden channel, measured-move and round number on the chart for tomorrow.

The bulls have control, which tells me to look for buying opportunities at support levels, such as the low of this channel, or even better, down at the low of this hidden channel.

If price keeps pushing higher, I need to be careful not to chase the market higher because we have major resistance at the measured-move and we can assume that 1300 is the main objective for these bulls.

Euro Day Trading Strategy

Euro is bullish with a trading-range, channel, measured-move and round number on the chart tonight.

The bulls have the momentum, which tells me I should focus on buying at support levels such as the low of the bull channel, which lines up nicely with the range-expansion support levels.

I also need to avoid buying as price pushes higher because we have the measured-move resistance and the main objective at the 15,000 round-number just a few points overhead.