August 16, 2018
Trading with Failures | Crude Oil, Emini, Nasdaq, Gold & Euro
“I am an optimist. It does not seem too much use being anything else.” – Winston Churchill
Crude Oil is bearish with a Spike & Range ahead of tomorrow’s rollover, and my plan is to focus on failures to sell above the highs using the ‘2-Try Rule’ tomorrow morning…
E-Mini S&P is bullish with a flag pattern, telling me to look for buying opportunities using a breakout-pullback above the high of the bear channel tomorrow morning…
Nasdaq is bullish with a Spike & Range pattern, telling me to look for buying opportunities below the range lows, but the strength of the recent pullback tells me to wait patiently until the pendulum swings back in the opposite direction tomorrow morning…
Gold is bullish with a Spike & Range pattern, so my plan is to look for buying opportunities using seller-failures at a key reversal-line tomorrow morning…
Euro is bullish with a Spike & Range pattern, telling me to look for buying opportunities below the range low using the ‘2-Try Rule’ tomorrow morning…
We’re getting ready to wrap-up another incredible week of trading opportunity with one of the final “Summer Friday” trading sessions tomorrow morning…
And with lots of ranges on the charts this evening, the key word is FAILURES for Friday’s trading session, here’s the game plan…
Crude Oil Day Trading Strategy
Crude Oil is bearish with Spike & Range, hidden channel, news candle, and prior week low ahead of contract rollover tomorrow morning…
The range has a bear-bias, telling me to look for selling-opportunities using buyer-failures and the ‘2-Try Rule’, and…
This “hidden channel”, combined with the prior week low and Wednesday’s inventory candle all come together to make excellent resistance levels for selling-opportunities, but…
The big variable is contract rollover – usually around the 18th of the month we have volume start moving to the next front-month contract, which is likely tomorrow morning and may produce another relatively sleepy trading session…
E-Mini S&P Day Trading Strategy
E-Mini S&P is bullish with a flag pattern, Double-Up, and prior week high on the chart this evening…
The flag pattern is bullish, telling me to look for buying opportunities using a breakout-pullback above the channel highs, and…
The Double-Up is resistance overhead, so I need to make sure I’m buying low enough to avoid buying into that resistance, while…
Waiting for clear STRENGTH on a breakout higher before trying to buy new highs tomorrow morning… because that prior week low would be an easy target for the bulls IF they can show enough strength to keep this move going higher…
E-Mini Nasdaq Day Trading Strategy
E-Mini Nasdaq is bullish with a Spike & Range pattern, a strong move lower, and some prior week levels on the chart this evening…
The Spike & Range is bullish, telling me to look for buying opportunities at the low of the channel using seller-failures and the ‘2-Try Rule’, but…
The strength of this move lower tells me this momentum is too strong to buy at this point, so I’m going to wait for these sellers to fail and then look to buy the pullback for a ‘pendulum swing’ going back to the highs tomorrow morning…
Gold Day Trading Strategy
Gold is bullish with a Spike & Range, measured-move and reversal-line on the chart this evening…
The Spike & Range has a bull-bias, telling me to look for buying opportunities using the ‘2-Try Rule’ for seller-failures, and…
This reversal-line at 80.5 lines-up nicely with the measured-move pullback off the highs, so im waiting for the sellers to try and fail for a buying opportunity going back up to re-test the high tomorrow morning…
Euro Day Trading Strategy
Euro is bullish with a Spike & Range, round number, and prior week levels on the chart this evening…
The Spike & Range has a bull-bias, telling me to look for buying opportunities using seller-failures and the ‘2-Try Rule’, and with…
The 14000 round number, combined with the prior week levels, it looks like the Euro is relatively comfortable at this price level…
So my plan is to buy the low and sell the high of this range, using seller-failures to buy the lows and failed breakouts to sell the high tomorrow morning…
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