Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Harness the Momentum | Crude Oil, Emini, Nasdaq, Gold, Euro

10 views

Published on

Momentum is a BIG factor going into Tuesday’s trading session – with strong counter-trend swings and wide trading-ranges, we a strategy that not only respects that momentum, but harnesses the strength of that momentum to help us reach our targets tomorrow morning.

Watch this day trading video on our blog: http://www.sidewaysmarkets.com

Learn the trading strategy for FREE: http://www.schooloftrade.com/trial

Crude Oil is bearish, but this short-covering rally coming off the measured-move tells me that I need to respect the bullish momentum before I try selling at key resistance levels overhead.

Knowing this, I'm going to wait for a test of resistance, followed by a “nested” failure set-up for the most reliable selling-opportunities tomorrow morning.

E-Mini S&P is bullish, but we’re sitting smack in the middle of a WIDE trading range, which tells me to sit-on-hands and wait for more reliable buying opportunities down near the lows.

But don’t forget about these highs – if the bulls finish this move back to the highs, then I want to sell off the high, but with momentum being so bullish, I need to stay patient and harness that momentum for a 2-Try Failure going back to the lows.

Nasdaq is bullish and trading at the high of a range this evening, which means we’re too high to buy, and I need to stay patient.

I’d like to sell the high, but first I need to harness the momentum using a “nested” failure set-up.

And don’t forget about the possible breakout, reminding me to wait for the 123-Breakout for my next buying opportunities going higher.

Gold is bearish and pulling back to the key resistance level called a “reversal-line”, which is always a great place to look for sell set-ups.

The challenge, however, is this move higher, which is VERY bullish; so rather then trying to sell this market, I'm going to wait for the buyers to try and fail before pulling the trigger.

Euro is bullish into a triangle pattern, which tells me to focus on failure set-ups around the edges of the triangle.

And don’t forget about the triangle’s “apex”, which is where we expect this market to attempt a breakout, and if it does, we have the perfect plan for it!

  • Be the first to comment

  • Be the first to like this

×