First published at 00:27 UTC on July 25th, 2018.
Trading with Failures | Crude Oil, Emini, Nasdaq, Gold & Euro
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Trading with Failures | Crude Oil, Emini, Nasdaq, Gold & Euro
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Learn the Patterns & Join the Trade Room with our Free Trial:
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Read the FULL Transcript of this Video & Download Charts on our Blog:
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Crude Oil is bullish with a Spike & Channel pattern, but location at the high of the weekly range is a horrible place to buy, so my plan is to leverage a seller-failure pattern for one more leg higher before looking to sell this market back down into the range tomorrow morning...
E-Mini S&P is bearish and trying to re-test this morning’s low but a key support trend-line is standing in our way, telling me to look for selling-opportunities using traps and buyer-failures around this trend-line tomorrow morning...
Nasdaq is bearish with a flag pattern, telling me to look for selling-opportunities up above the high of the short-term channel tomorrow morning...
Gold is bearish and trading down to the low of a triangle, telling me to focus on failures to sell the high of the triangle tomorrow morning...
Euro is bearish but a recent Spike & Channel is telling me to wait for the buyers to try and fail before selling this market back down to the low again tomorrow morning...
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Economic News:
Please remember that economic news, both scheduled and un-scheduled will increase volatility and decrease liquidity in the market in the short-term, which causes price-action to react inconsistently with the levels of support and resistance mentioned in this video. Trading during economic news reports is da..
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