‘Spike’ Trading Strategy | SchoolOfTrade Newsletter 03/28/17
Crude Oil is bullish, but a resistance trend-line and a measured-move are making this difficult for them to keep control, and we know that sellers are most likely looking for an opportunity to sell into the highs as we speak. S&P is bullish, but a spike & channel on the chart, combined with a resistance trend-line are both giving the bears an easy window of opportunity to take control tomorrow. Gold is bearish, but an overshoot of the channel is telling us to stay patient, and look for selling opportunities using the reversal-line and ‘battle zone’ overhead. Euro is bearish with a strong ‘spike’ lower, which tells us to stay patient for a ‘trap high’ around the moving-average and watch for one of four likely scenarios tomorrow. FDAX is bullish, but the recent ‘trap low’ gave the bulls the opportunity they needed just a few hours ago, so our plan is to wait for a correction or look for a breakout-pullback.
