Don’t Chase The Move (Here’s Why)

The channel is another big clue because it’s wide and almost flat, which is almost like a range, and should be traded like a range.

So my plan is to focus on selling near the high of the channel, using buyer-failures and the ‘2-Try Rule’ to avoid selling into the low of this range tomorrow morning.

E-Mini Nasdaq Day Trading Strategy

E-Mini Nasdaq is bearish with a trading-range, bear channel, and measured-move to work with this evening.

The bear channel tells me to look for selling-opportunities at the highs, and the flat, wide nature of the channel tells me to trade it like a range, using the 2-Try Failure pattern.

The trading-range is another important clue because we’re rotating off the high with a target for the sellers back down to the low.

Putting this together, my plan is to sell up around the high of the channel using buyer-failures and leaving a target down at the low of the range.

Gold Day Trading Strategy

Gold is bearish with a channel, trading-range, and measured-move on the chart tonight.

The channel is bearish and rather flat & wide, which tells me there is a bear bias to this trend and I should think of this situation similar to a range, using buyer-failures to sell the high of the channel.

The big clue is this short-term trading-range, which has a bear bias and tells us to fade the breakouts as the buyers try to send this price higher.

With all this information on the chart, my plan is to look for selling-opportunities above this short-term trading-range, near the high of the channel using the 2-Try Failure pattern.

Euro Day Trading Strategy

Euro is bullish with two trading-ranges, support trend-line, and a 2-Try Failure pattern on the chart tonight…

The weekly trading-range tells me that the buyers are still hunting for a re-test of the high up above 14,000.

We also have a short-term range right in the middle of this larger range, and it’s easy to see the sellers tried twice to the downside and are now rotating back up to the highs.

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