Trading Crude Oil to ZERO – Is It Possible?
The price of Oil keeps tumbling lower, dragging down the Eminis and Gold along with it, but today’s close on Oil tells us we may have seen a bottom…
The problem is, with Oil trading near ZERO, it’s easy to see traders pushing it lower into tomorrow’s trading session, dragging the rest of the markets with it, and I want to make sure we’re ready to trade it – here’s my plan…
Crude Oil Bears Would Love to See ZERO…
Crude Oil is bearish and sitting just above today’s overnight low, which is a good sign of a possible bottom on this fragile market…
I see three possible trading opportunities on Oil, one of them being a run down to ZERO, and I have my eyes on a hidden-channel pullback…
E-Mini S&P Sellers Looking to Pick Tops…
E-Mini S&P is bearish and trading sideways inside a range, telling me to buy low, sell high, and focus on failures around the edges of the range…
Keep in mind, the momentum is bearish, so I’ll be using different failure patterns, depending on direction and momentum…
This Range on Gold is Still Holding Strong…
Gold is bearish and trading in the middle of this week’s range, which tells me to sell above the highs, buy below the lows, and stay out of the middle…
Knowing this, the most recent momentum is rather bullish, so if we re-test the range highs, the most reliable sell setup will be a nested failure back into the range.
