Trading the Crown Reversal Pattern
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“One of the most fascinating lessons I have learned about life is that the struggle is good.”
Crude Oil is bearish as it slowly makes its way back to yesterday’s low, and my goal is to use the high of this hidden channel for selling-opportunities tomorrow morning…
E-Mini S&P is bearish, but trading at the low of the range isn’t a great place to start selling, so my plan is to wait for selling-opportunities up at the range high instead of trading to force trades down near the low…
Nasdaq is bearish and trading at the low of the range, so I’m watching for a short-term buying opportunity back up to the high, with the ultimate goal of selling the high of this range using a buyer-failure tomorrow morning…
Gold is bullish with a strong spike higher – telling me to look for seller-failures below the moving-average for another leg higher tomorrow morning…
Euro is bullish with a wide Spike & Channel – telling me to respect the momentum of this market and wait for a 2-Try Failure for buying opportunities off the low…
Crude Oil Day Trading Strategy
Crude Oil is bearish and trying to re-test yesterday’s low – telling me to focus on selling-opportunities up at resistance levels, such as the high of this channel tomorrow morning…
E-Mini S&P Day Trading Strategy
E-Mini S&P is bearish with a trading-range, channel, and measured-move on the chart this evening…
The bears have the momentum – telling me to focus on selling-opportunities at resistance levels overhead…
But if you look closely, you can see we’re sitting on the range-expansion support level with the sellers now trying twice…
This clue tells me that (a) I don’t want to sell down at this support level, and (b) we may have an opportunity to buy this market with the nested 2-Try Failure pattern…
For the buyers, Im looking for these sellers to try and fail TWICE before re-testing this afternoon’s low, looking for a target up at the range high…
And for the sellers, I need to wait for either another leg lower, or stay patient for price rotate back to the range high, where I can use a buyer-failure to sell off the high…
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E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bearish with a trading-range, measured-move and channel on the chart this evening…
The bears have the momentum, so my plan is to focus on selling-opportunities at resistance levels, preferably up at the high of this trading-range tomorrow morning…
But in the short-term, the sellers just completed their ‘pendulum swing’ off the highs, which means we should be seeing profit-taking, and a possible short-covering rally back to the high…
But it’s not going to be as easy to buy the lows as it was to sell the high – I can use a 2-Try Failure off the highs because it’s going with the trend, but I need to be more conservative buying off the lows, so my focus will be a nested 2-Try Failure pattern.
Gold Day Trading Strategy
Gold is bullish with a strong spike higher, hidden channel, and trading-range on the chart this evening…
The strong spike higher gives the bulls the momentum, telling me to look for buying opportunities at the low of the channel…
And with price pulling back below the moving-average, I can assume the best entry pattern will be a combination of a trap-low into a seller-failure for a re-test of the high…
It would also be wise to prep for a possible collapse back into the range – because technically this spike higher was only the first try for the buyers, and after a second try we may see this momentum shift back to the bears and make a run back to the $1200 round number.
Euro Day Trading Strategy
Euro is bullish with a Spike & Channel and resistance trend-line on the chart this evening…
The bulls have the momentum, so my focus is buying support levels tomorrow morning… and I have my eye on the low of this bull channel…
Which reminds me – this channel is rather WIDE, telling me that momentum will be bearish by the time we get back to the lows, so I need to wait for the sellers to try twice before I look for buying opportunities going back up to the high…
