Planning for the Best Entry Price
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Crude Oil is bullish after a massive afternoon rally, and these types of moves tip me off to a pending range, so I’m waiting for the 2-Try Failure pattern for a re-test of the high tomorrow morning…
E-Mini S&P is bearish (at first glance) but the close of today’s session left the door wide open for the bulls to grab control with a short-covering rally back to this morning’s high…
Nasdaq is bearish, but we’re sitting at three (3) support levels, so I’m waiting for the signal to start buying this market tomorrow morning…
Gold is bearish with a triangle, telling me to focus on failures around the “swings” on this chart tomorrow morning…
Euro is bearish with a Spike & Range pattern, telling me to look for selling-opportunities using the 2-Try Failure pattern up above the highs…
We’re back in the action once again – this time with a new week of trading opportunities ahead of us, and as always, I have another great newsletter for you tonight with plenty of reliable trading opportunities tomorrow morning…
Crude Oil Day Trading Strategy
Crude Oil is bullish with a strong run higher, bull channel, hidden channel, measured-move and reversal-line on the chart this evening…
The trend is clearly bullish, telling me to look for buying opportunities at support levels with a target going back to re-test the highs…
But when I see a market make a run like this, the next day is often a range, so I’m watching for double-tops to give me the heads-up on a range, and if that happens, then the plan shifts to buying below the range with seller-failures…
But if we keep pushing higher, then I have to get more aggressive, most likely using a Spike & Channel pattern to buy with bear-traps near the base of the channel…
E-Mini S&P Day Trading Strategy
E-Mini S&P is bearish with a trading-range, channel, measured-move and reversal-line on the chart this evening…
The short-term momentum is bearish, telling me I should be looking for selling-opportunities at resistance levels, but the last candle of today’s session is a BIG CLUE…
Notice how the last candle is JUMPING off the moving-average, which is usually a reliable bullish signal that the bears are losing their grip…
Knowing this, my plan is to see if these buyers will take it higher into the opening-bell in Asia, then start looking for buying opportunities (similar to the Nasdaq) for a short-covering rally back to re-test this morning’s high…
Looking to sell this market? The buyers have officially tried twice above the moving-average, telling me that a strong bearish signal will also trigger sellers into the move back down to re-test the lows, so my plan is to stay patient and see which way we go…
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E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bearish with a measured-move, channel, and support trend-line on the chart this evening…
The long-term momentum is bullish, but short-term momentum is bearish, telling me that (before I can start buying) I need to see this momentum turn back in my favor tomorrow morning…
To do this, I’m first looking for the sellers to try twice up above the moving-average…
Once I see the bears try and fail, followed by the correct bull-signal, then my plan is to start looking for pullbacks on the move going back to re-test the high…
It’s important to remember, if the bears fail, this will be an aggressive short-covering rally, which means waiting for deep pullbacks isn’t going to be easy, so the plan is to get aggressive with seller-failures and trap patterns on the way back to re-test the high…
What does it take for me to sell this market? Simple. All the bears need is a re-test of the 52.25 low and that will zap any bullish momentum and give us a bear trading-range to look for selling-opportunities using the 2-Try Failure pattern tomorrow morning… but only time will tell.
Gold Day Trading Strategy
Gold is bearish with a triangle, measured-move and battle-zones on the chart this evening…
The long-term momentum is bearish before we start going sideways, so there is a slight bear-bias, telling me the most reliable trading opportunities will be using buyer-failures and the 2-Try Failure pattern selling off the highs of this range…
But if we do see prices try and fail to push lower, we can also look for the 2-Try Failure followed by a hidden channel pullback opportunity for buyers…
Euro Day Trading Strategy
Euro is bearish with a trading-range and measured-move on the chart this evening…
The trading-range has a bear-bias, telling me to look for entry patterns combined with resistance levels tomorrow morning…
The key resistance level is the high of this range, along with the range-expansion levels, and with this being a range-bound market, my plan is to combine with the 2-Try Failure pattern for selling-opportunities back down to the low.
