Better Odds of Success

What’s the easiest and most effective way to increase your odds of success? 

It’s simple – focus on trades that allow you to “risk small to earn large”

And after another round of BIG MOVES on the charts today, it’s easy to see some prime locations for us to “risk small to earn large” tomorrow morning – Are you ready?  

Crude Oil is a Spike & Range (But Watch the Triangle!)

Crude Oil is bearish into a trading-range this evening, which tells me to look for sell set-ups above the high of the range, preferably in my battle-zone waiting overhead…

But the real interesting part will be if we go lower – where I have a strategic support trend-line waiting to be used in combination with my “nested’ failure set-up to get long back into the range again.

E-Mini S&P Wants Back to Weekly Highs

E-Mini S&P is bullish with a strong run higher, which tells me that any decent pullback below the moving-average is going to be seen as a reliable buying opportunity with a target going back to re-test the high.

I’m also keeping an eye on this range from earlier in the week, which is just a few points higher, and if we make it up that far, I need to start adjusting the strategy to focus on buy set-ups below the range, making sure to avoid the middle.

Nasdaq is Begging us to Chase It (Don’t!)

Nasdaq is bullish and ran all the way up into the range from earlier this week, which tells me to wait patiently for a relatively-deep pullback so I’m not buying inside the range tomorrow morning.

And if price really wants to run, the next target is back to 8000, and will most likely be into a Spike & Channel, which tells me to wait for the “trap low” for the most reliable buy set-up to finish the run.

Gold is on a Ticket to the Moon (Are We There Yet?)

Gold is bullish with a strong run higher up to a large measured-move target which is considered major resistance, and tells me I need to wait for a pullback to key support levels for a reliable buy set-up on Friday morning…

And speaking of key support levels, this channel is so wide that we’re going to most likely use the midline as the best support and resistance level on the pullback.

Euro is Bouncing on Dollar Weakness (Where Next?)

Euro is bullish with a strong run higher, all the way back into the range from earlier this week, which tells me to avoid trying to trade the “middle” and focus on buy set-ups below the range low.

But if we keep pushing higher, then I can see plenty of open space to run, and I’ll be looking for a new Spike & Channel to buy the next pullback to complete the next measured-move target.

“Do not hope for an easy life, work hard to achieve the strengths and skills to endure a difficult one.”