December 5, 2017
- in Uncategorized by schooloftrade
Grind-Break Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro
“Defeat is a state of mind; No one is ever defeated until defeat has been accepted as a reality.”
Crude Oil is bearish with a “grind-break” pattern, telling me to look for selling-opportunities up above the channel highs in the ‘battle zone’ tomorrow.
S&P is bearish with a parabolic move to finish today’s session, and a channel “overshoot” tells me to look for selling-opportunities back at the opposite side of the channel tomorrow morning.
Nasdaq is bearish and trying to finish a major channel rotation, but recent price-action tells me the sellers are growing weary of selling so low, so my plan is to wait for selling-opportunities after a ‘2-legged pullback’ tomorrow.
Gold is bearish with a flag pattern, telling me to look for selling-opportunities up above the high of the channel, hopefully around Friday’s closing price.
Euro is bearish with a Spike & Channel, so my plan for tomorrow is to look for selling-opportunities up above the base of the channel.
Crude Oil Day Trading Strategy
Crude Oil is bearish with two channels to work with tomorrow. The first channel started on Friday, with the most recent pullback being up around 57.81 (grind-break), which will make for an excellent location to look for “traps” tomorrow.
The second channel, the Spike & Channel, tells me to look for selling-opportunities up above prior swings, so keeping those big clues in mind, my plan for tomorrow is to look for selling-opportunities up in the ‘battle zone’ with a target back down at last week’s low.
E-Mini S&P Day Trading Strategy
E-Mini S&P is bearish with an “overshoot” of the channel low after a parabolic move lower to finish today’s session.
The S&P has the potential to keep going lower tomorrow, back down to Friday’s low, but I don’t want to chase this price lower, so my plan is to wait for a pullback to the high of the channel, or look for a Spike & Channel to develop tomorrow morning.
E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bearish and trying to finish the move back down to the low of a large channel, but looking closely at the candlesticks on the chart, you can see it’s been a long time since we had a pullback to the moving-average, and we’re seeing some big wicks at the bottom of these recent candlesticks.
With this information, my goal is to look for a pullback, hopefully back above the moving-average where I can use the top of this channel as major resistance for selling-opportunities down to the measured-move target tomorrow.
Gold Day Trading Strategy
Gold is bearish with a flag pattern and trading just off the low of this triangle/range.
Flag patterns can be tricky, the goal being to sell above the high of this bull channel, and with Friday’s gap still left open, the 1283.1 area would make for a perfect selling-opportunity tomorrow.
Euro Day Trading Strategy
Euro is bearish with a Spike & Channel and trading just off the low of a multi-day Trading-Range, both of which telling me to stay patient for the most reliable trading opportunities up near the high of the range, most importantly, up around the “gap fill” which is still open from last Friday’s close.
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