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Monday’s are great for getting into your trading ‘rhythm’ and this morning we will go through our morning routine/prep together in our live trade room so everyone can learn along with me.
Grind-Break Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro
Momentum Channel & Range Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro
Fractal Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro
Head-Fake Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro
Trading with “Context” | Crude Oil, Emini, Nasdaq, Gold & Euro
Stop Missing the Best Trades | Crude Oil, Emini, Nasdaq, Gold & Euro
Earn More with Confirmation | Crude Oil, Emini, Nasdaq, Gold & Euro
4 Ways to Profit from Reversals | Crude Oil, Emini, Nasdaq, Gold & Euro
If I had to predict what was going to happen…
1 of 3 things will happen…
Dollar keep going through the roof of the wedge and we can keep selling off on crude oil, and keep buying pullbacks on gold.
Dollar may trade sloppy at the 76.600 and then we will see that on the tape and we will then start trading like an ‘inside day’ on gold and crude oil.
If the dollar falls off these highs of 76.600 we then can start buying crude oil, and gold will be the variable.
We review crude oil this morning and we see that price has fallen off recent highs last week and the highs of the price channel.
We now find ourselves in the middle of the long term bear channel, and a new short term bear channel has developed.
The short term bear channel, along with the fundamentals in today’s market tell us to keep looking to sell retracements as we make new lower lows.
The levels of support below us at 94.32, 93.80, 93.46, 92.80 will be excellent location to take profit and look for price reversals to get long for a short term intra-day trade.
Let’s use a 34range chart to plan our specific attack when trading crude oil today:
– Outside day (below the PLOD) tells us to sell retracements, and sell at resistance levels
– Bear Price channel says to keep selling as well
– Lack of demand says to keep selling as well.
If price falls:
– Im selling retracements with new lower lows
– Im buying at support for short term intra-day moves
– Longer term high % trades will be short this morning until something changes.
– Im buying at 94.32, 94.00, 93.80, 93.45, 93.07
– Im selling the break of 95.18, 95.00 and all of the levels mentioned above.
If price rises:
– Im looking for a short trade opportunity
– If we see the bear channel broken then I can start looking to buy pullbacks with more %
– Bear channel says to sell at resistance and sell at retracements.
– Im selling at 95.18, 95.67
– Avoiding trading around the OPEN95.70
– Selling 96.00, 96.09
– Avoid trading around BMT 96.39
– Sell Sunday’s HOD at 96.75
– Beware the high % trades will come on the short side with this bear price channel.
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