March 22, 2018
How Far Will This Go? | Crude Oil, Emini, Nasdaq, Gold & Euro
“Stop focusing on unproductive crap. Don’t be afraid to break things. Don’t be romantic with it, go after results. Don’t take the time to breathe. Don’t aim for perfect. And whatever you do, keep moving. Reread this a few times . . .”
Crude Oil is bearish as it tries to take back yesterday’s gains, and the choppy price-action today tells me to focus on failures and traps up at resistance tomorrow morning…
E-Mini S&P is bearish and finished the session right on it’s lows, telling me to look for a selling-opportunities any time we get back above that moving-average tomorrow morning…
Nasdaq is bearish with a strong move lower, and I have my eyes on a “hidden channel” for selling-opportunities tomorrow morning…
Gold is bullish with a flag pattern, telling me to look for buying opportunities using seller-failures up above the high of the channel tomorrow morning…
Euro is bearish with a Spike & Channel pattern, telling me to look for selling-opportunities up above the high of the channel tomorrow morning…
Everyone wants to know… “How Far Will This Go?”… but REAL traders are focused on where they can get into the best trades on Friday, and that’s what tonight’s newsletter is all about…
Crude Oil Day Trading Strategy
Crude Oil is bearish with a Spike & Channel and relatively choppy price-action to finish the session…
We can definitely see the bears have control but look closely and you can see the only successful selling-opportunities have been traps and buyer-failures up above the moving-average, so my plan is to keep following that lead into tomorrow’s session.
E-Mini S&P Day Trading Strategy
E-Mini S&P is bearish with a strong move lower, but it looks like we’re starting to see sellers pause at today’s low, giving me the opportunity to look for selling-opportunities up at the reversal-line and channel-high with a target down at the measured-move tomorrow morning…
E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bearish with a channel and possible “hidden channel” to work with tomorrow.
This strong move lower is a big clue, telling me that conservative sellers are most likely going to be waiting for opportunities up above the moving-average tomorrow and with a target down at the measured-move.
Gold Day Trading Strategy
Gold is bullish with a flag pattern, telling me to look for buying opportunities up above the highs of the flag on strength, or seller-failures down at the low of the flag on weakness…
The challenge is the prior week high and the measured-move resistance overhead, which are going to make the buyers’ job more difficult tomorrow morning…
Honestly, with all the resistance overhead I would rather be a seller, but we haven’t seen any PROOF of the bears taking control, so I’m staying patient…
Euro Day Trading Strategy
Euro is bearish with a Spike & Channel, support trend-line, and “hidden channel” on the chart this evening.
The bears have control, and this support trend-line just got broken, so I’m watching for selling-opportunities using a ‘2-legged pullback’ pattern off resistance levels waiting overhead for a move down to the prior week low.
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