First published at 05:05 UTC on November 29th, 2018.
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4 Ways to Trade a SPIKE | Crude Oil, Emini, Nasdaq, Gold & Euro
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Learn the Patterns with My Free Trading Course:
http://www.schooloftrade.com/trial
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4 Ways to Trade a SPIKE | Crude Oil, Emini, Nasdaq, Gold & Euro
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Read the FULL Transcript of this Video & Download Today’s Charts:
http://www.sidewaysmarkets.com/
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Crude Oil is bearish at the low of the range, telling me to look for buying opportunities, but this momentum is so strong that I need to wait for a “nested” 2-Try Failure pattern to buy tomorrow morning.
E-Mini S&P is bullish with a Spike & Channel pattern, and we’re just a few points from re-testing last week’s high, so my plan is to use bear-traps for buying opportunities.
Nasdaq is bullish with a Spike & Wedge pattern, which means the higher we go, the more likely we get a great buying opportunity after a DEEP pullback.
Gold is bullish back into the range, so I’m going to focus on buying just below the range using the 2-Try Failure pattern.
Euro is bullish with a strong spike higher, and I’m waiting for buying opportunities off the low of a hidden channel.
We have a bunch of SPIKES on the chart, some going with the trend, and some going against, so tonight we’re going to talk about the four most reliable ways to trade a strong “spike” on any chart.
The key to trading with spikes is to wait for proof of which pattern we get next, that will tell you where the best entry pattern will be - and whatever you do - never try to fade those spikes until momentum shifts!
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