Don’t Chase the Move (Here’s Why)

“Learn from yesterday, live for today, hope for tomorrow.” -Albert Einstein

Crude Oil is bullish with a short-covering rally, so I’m looking for buying opportunities and I’m watching a reversal-line in combination with the low of a hidden channel for tomorrow morning.

E-Mini S&P is bearish and rotating back to the low of the range, and my job tomorrow is to find selling opportunities using buyer-failures before we get there.

Nasdaq is bearish with a weak move going lower, so I’m staying patient, waiting to sell high using bull-traps up at the high of a channel.

Gold is bearish with a wide, almost flat channel, which tells me to trade this just like a range, using the ‘2-Try Rule’ to sell above the highs using buyer-failures.

Euro is bullish and still trying to re-test the range high, and with the sellers failing, I’m watching for a crown reversal pattern to buy the low tomorrow morning.

Back in the action again this evening with our final newsletter of 2018, and although I would love to sit back and reminisce about all the good times we’ve shared together this year, we have some work to do because those presents under the tree aren’t gonna pay for themselves, are they?

Crude Oil Day Trading Strategy

Crude Oil is bullish with a strong spike higher, trading-range, and hidden channel on the chart this evening.

The bulls have control with this strong short-covering rally, and it’s easy to assume these buyers are hunting for the high of this weekly trading-range.

Knowing this, I’m looking for support levels to buy pullbacks, and I have my eye on the low of this hidden channel, in combination with the .35 reversal-line for entry patterns tomorrow morning.

E-Mini S&P Day Trading Strategy

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

The trading-range is the big clue, telling me to keep looking for selling-opportunities as price rotates back to the low of the weekly range.

The channel is another big clue because it’s wide and almost flat, which is almost like a range, and should be traded like a range.

So my plan is to focus on selling near the high of the channel, using buyer-failures and the ‘2-Try Rule’ to avoid selling into the low of this range tomorrow morning.

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E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish with a trading-range, bear channel, and measured-move to work with this evening.

The bear channel tells me to look for selling-opportunities at the highs, and the flat, wide nature of the channel tells me to trade it like a range, using the 2-Try Failure pattern.

The trading-range is another important clue, because we’re rotating off the high with a target for the sellers back down to the low.

Putting this together, my plan is to sell up around the high of the channel using buyer-failures and leaving a target down at the low of the range.

Gold Day Trading Strategy

Gold is bearish with a channel, trading-range, and measured-move on the chart tonight.

The channel is bearish and rather flat & wide, which tells me there is a bear bias to this trend and I should think of this situation similar to a range, using buyer-failures to sell the high of the channel.

The big clue is this short-term trading-range, which has a bear bias and tells us to fade the breakouts as the buyers try to send this price higher.

With all this information on the chart, my plan is look for selling-opportunities above this short-term trading-range, near the high of the channel using the 2-Try Failure pattern.

Euro Day Trading Strategy

Euro is bullish with two trading-ranges, support trend-line, and a 2-Try Failure pattern on the chart tonight…

The weekly trading-range tells me that the buyers are still hunting for a re-test of the high up above 14,000.

We also have a short-term range right in the middle of this larger range, and it’s easy to see the sellers tried twice to the downside and are now rotating back up to the highs.

Knowing this information, I want to buy this market with a target up at the highs of the larger range.

But I don’t want to buy into the high of the smaller range, so my plan is to use a nested 2-Try Failure, hopefully a crown reversal, to pick this bottom using the support trend-line coming up from below.