Trading The 123-Reversal Pattern

(Video length 00:43:54)

“Risks may make you win, or they will make you learn. Either of the benefits is worth daring for.”

Crude Oil is bearish and trading at the high of the range, telling me to wait for the buyers to try twice before selling back down to the range low tomorrow morning.

E-Mini S&P is bullish with a short-covering rally, and with the buyers trying to go back and re-test Wednesday’s high, my plan is to look for bear-traps at support levels on the way higher.

Nasdaq is bullish with a 123-Reversal which tells me exactly where I can find the most reliable buying opportunities tomorrow morning.

Gold is bearish and trying to complete the ‘pendulum swing’ target, and I have my eye on bull-traps just above the range for selling-opportunities.

Euro is bullish and trying to break free of the weekly trading-range with a strong push higher, but since this is a range, I’m looking for these bulls to fail so I can get short back into the range tomorrow morning.

We’re back after a day off on Wednesday with some excellent opportunities setting-up for Non-Farm Payroll Friday…

We have some major trend reversals, a couple trading-ranges, and as always, a solid plan of attack for tomorrow morning’s session.

Crude Oil Day Trading Strategy

Crude Oil is bearish with a trading-range, ‘pendulum swing’, support trend-line, and round number on the chart this evening.

The trading-range has a bear-bias, telling me to sell above the highs using the 2-Try Failure pattern.

The ‘pendulum swing’, combined with the range-expansion up around 52.15 will make for an excellent resistance area.

But the rising support trend-line coming up off the lows reminds me to make sure I clear below it and use it was resistance for the most reliable selling-opportunities.

E-Mini S&P Day Trading Strategy

E-Mini S&P is bullish with a 123-Reversal, strong bull run, hidden channel, reversal-line, and measured-move on the chart tonight.

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