September 4, 2018
Why SIZE Always Matters | Crude Oil, Emini, Nasdaq, Gold & Euro
“Success seems to be connected with
action. Successful people keep moving. They make mistakes but don’t quit.”
action. Successful people keep moving. They make mistakes but don’t quit.”
Crude
Oil is bearish with a Spike & Channel pattern, and I’m looking to
combine the high of the channel with a key reversal-line for selling-opportunities…
Oil is bearish with a Spike & Channel pattern, and I’m looking to
combine the high of the channel with a key reversal-line for selling-opportunities…
E-Mini
S&P bearish with a wide trading-range, telling me to look for selling-opportunities
using buyer-failures with a momentum confirmation for entry…
S&P bearish with a wide trading-range, telling me to look for selling-opportunities
using buyer-failures with a momentum confirmation for entry…
Nasdaq is
bearish with a wide trading-range, telling me to stay patient and use the ‘2-Try
Rule’ to sell back down to the lows…
bearish with a wide trading-range, telling me to stay patient and use the ‘2-Try
Rule’ to sell back down to the lows…
Gold is
bearish with a trading-range, telling me to look for selling-opportunities using
the ‘2-Try Rule’ up above the range…
bearish with a trading-range, telling me to look for selling-opportunities using
the ‘2-Try Rule’ up above the range…
Euro is
bullish with a 123-Reversal, telling me to keep my eyes open for buying
opportunities using the low of a hidden channel tomorrow morning…
bullish with a 123-Reversal, telling me to keep my eyes open for buying
opportunities using the low of a hidden channel tomorrow morning…
We’re back after the Holiday weekend and ready to kick-start
the Fall
Trading Season with a few strong trends, a couple trading-ranges, and some
big opportunities going into Wednesday’s
trading session…
the Fall
Trading Season with a few strong trends, a couple trading-ranges, and some
big opportunities going into Wednesday’s
trading session…
Crude
Oil Day Trading Strategy
Oil Day Trading Strategy
Crude Oil is bearish with a Spike &
Channel, strong bear run, measured-move, and reversal-line on the chart this evening…
Channel, strong bear run, measured-move, and reversal-line on the chart this evening…
The Spike & Channel is a great pattern,
telling me to look for selling-opportunities at the high of the range, and even
above the high of the range using buyer-failures, while…
telling me to look for selling-opportunities at the high of the range, and even
above the high of the range using buyer-failures, while…
The strong bear run reminds us that any time
we see a strong move in one direction we to look for selling-opportunities after
a ‘2-legged pullback’ and a re-test of the low, so the market is bearish and
all we need is resistance to sell…
we see a strong move in one direction we to look for selling-opportunities after
a ‘2-legged pullback’ and a re-test of the low, so the market is bearish and
all we need is resistance to sell…
One of my favorite resistance levels are reversal-lines,
and we have one lined-up near the highs of the channel at 69.68 for selling-opportunities
tomorrow morning…
and we have one lined-up near the highs of the channel at 69.68 for selling-opportunities
tomorrow morning…
E-Mini
S&P Day Trading Strategy
S&P Day Trading Strategy
E-Mini S&P is bearish with a trading-range
and measured-move on the chart this evening…
and measured-move on the chart this evening…
The bears took control in the overnight
session, got their ‘2-legged pullback’ and a re-test of the low, but the
sellers failed to extend the move lower, with the double-bottom signaling the beginning
of the trading-range…
session, got their ‘2-legged pullback’ and a re-test of the low, but the
sellers failed to extend the move lower, with the double-bottom signaling the beginning
of the trading-range…
The key is the SIZE of this range – it’s
very wide… and wide ranges can be tricky
to trade because you can’t be too aggressive – why? – because of the momentum building
from these buyers as price rotates back to the high… it’s too strong to just
blindly sell…
very wide… and wide ranges can be tricky
to trade because you can’t be too aggressive – why? – because of the momentum building
from these buyers as price rotates back to the high… it’s too strong to just
blindly sell…
So my plan for tomorrow is to look for selling-opportunities
but only after I see the buyers try twice, and most importantly, I see momentum
turning back to the sell-side for a run back down to the low of the range tomorrow
morning…
but only after I see the buyers try twice, and most importantly, I see momentum
turning back to the sell-side for a run back down to the low of the range tomorrow
morning…
And keep your mind open for a possible
reversal, if this momentum is strong enough you will see the buyers punch higher
on strength, telling us this market wants to go back and re-test the highs, and
we will need a hidden channel for buying opportunities along the way…
reversal, if this momentum is strong enough you will see the buyers punch higher
on strength, telling us this market wants to go back and re-test the highs, and
we will need a hidden channel for buying opportunities along the way…
E-Mini
Nasdaq Day Trading Strategy
Nasdaq Day Trading Strategy
E-Mini Nasdaq is bearish with a WIDE trading-range
and measured-move on the chart this evening…
and measured-move on the chart this evening…
The bears took price lower before we saw the
double-bottom…
double-bottom…
The double-bottom confirms the range, and
the move lower confirms the directional bias, but the BIG CLUE is the width of
this range… it’s very WIDE.
the move lower confirms the directional bias, but the BIG CLUE is the width of
this range… it’s very WIDE.
Wide ranges need to be traded carefully because
they allow the momentum to develop as price rotates back and forth, and with
the buyers rotating back to the high, the next step is to wait for them to
fail, then get momentum running lower for a selling-opportunities back down to
the lows…
they allow the momentum to develop as price rotates back and forth, and with
the buyers rotating back to the high, the next step is to wait for them to
fail, then get momentum running lower for a selling-opportunities back down to
the lows…
The wide range can also lead to a breakout,
and all we need for that is another strong leg higher for the bulls, and if we
get it, look for a hidden channel to buy off the low on the way back up to
re-test the high tomorrow morning…
and all we need for that is another strong leg higher for the bulls, and if we
get it, look for a hidden channel to buy off the low on the way back up to
re-test the high tomorrow morning…
Gold
Day Trading Strategy
Day Trading Strategy
Gold is bearish with a Spike & Channel, Spike
& Range, resistance trend-line, and measured-move on the chart this evening…
& Range, resistance trend-line, and measured-move on the chart this evening…
The Spike & Channel tells me the bears
have the momentum at their back, but…
have the momentum at their back, but…
You can see the sellers struggled to push
lower around 10am EST, sending the moving-average flat and running sideways – a
good indication of a range, and…
lower around 10am EST, sending the moving-average flat and running sideways – a
good indication of a range, and…
When I see a range with a bear bias like this,
I know the best trading opportunities will be using the ‘2-Try Rule’ to sell
above the highs, but remember…
I know the best trading opportunities will be using the ‘2-Try Rule’ to sell
above the highs, but remember…
A trending market is always looking to
complete a measured-move, which is just below the range lows, so if we go
lower, focus on bull-traps instead of pullbacks to avoid chasing this move and
selling into the market’s objective tomorrow morning…
complete a measured-move, which is just below the range lows, so if we go
lower, focus on bull-traps instead of pullbacks to avoid chasing this move and
selling into the market’s objective tomorrow morning…
Euro
Day Trading Strategy
Day Trading Strategy
Euro is bullish with a 123-Reversal, hidden
channel, and reversal-line on the chart this evening…
channel, and reversal-line on the chart this evening…
The bears started with control this morning,
but after a 123-Reversal the bulls now have the momentum at their back, and any
time I see a reversal I always start looking for buying opportunities at support
levels…
but after a 123-Reversal the bulls now have the momentum at their back, and any
time I see a reversal I always start looking for buying opportunities at support
levels…
The best support level to use after a reversal
is a hidden channel, and if you look closely you can see the low of the channel
lining-up nicely with the reversal-line…
is a hidden channel, and if you look closely you can see the low of the channel
lining-up nicely with the reversal-line…
Combine the bullish momentum with a pullback
to support levels and we have a great opportunity to take this short-covering
rally back to re-test last week’s highs…
to support levels and we have a great opportunity to take this short-covering
rally back to re-test last week’s highs…
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