Key Strategies Of Rob’s Are Coming Together Nicely Today

Welcome back everyone!  By the time that you watch this video this evening, I will have completing a presentation using the same exact concept that I used today.  We talk a lot about stochastic spikes and Ms and Ws.   I have also been talking a lot about trend trading versus sideways trading.

When the tax information was being announced we were channeling at that point.  I focused on some of the channel strategies.  We had some nice stochastic spike pull downs on a five and two minute basis.  There were also Hoffman IRBs on the two and fives as well.  There also was the M pattern sell to exit the trade.  It started off with IRBs and stochastic spikes that led to that great opportunity.  It then closed out with the M pattern sell.  For all of you that are watching the class tonight on this subject this should really hit home for you.  It made for a real great trading session.  I told everyone in the room that it was my strategy because of the tax plans release.

The Bonds are still in the kill zone currently.  We have the falling speed lines and the rising channel support underneath us.  It is a whipsaw back and forth right now, even after the tax plan release.  I want to break out from that kill zone for a long or short.

Gold is basically doing the exact same thing.  We are stuck between falling resistance and the same exact rising support.  There is no surprise there.  I want to see that break out of those key areas before any trade.

Crude Oil is interesting because I have been saying that something doesn’t end up.  We were getting all those incredible high surpluses where the market should’ve been going down, yet the market held up.  We sure enough saw a major pull back, then back up to that area with major distribution.  We are hanging on by a razor’s edge at this 4880 area.  Using the 80/20 rule, if we can break below that we could easily see the mid 47s.  Beyond that we have much deeper room to grow.  I am watching to see if we can get through that.  If we keep going up towards the 50s I am going to wait and trade the other instruments.  Everything is a resistance level up until the 52 dollar mark.  There is just a big mess there.

We have the rising support underneath us.  We also have the long term resistance up there as well.  We are still just caught in that resistance.  We have not made that support yet because we haven’t had any closes above that distribution bar of mine.  That is still strong institutional resistance.  If that turns into support, and we start pushing through the highs, we could easily see 110 and more.  The Euro can find itself in quite a resurgence.  That 110 level is going to be very important to us.

This is a very news driven market because of North Korea, China, Canada, and Mexico.  This is just such a news driven market.  The bottom line is that as long as we are above the speed lines I will be focusing on long side trades.  I just did that today with the S&P trade that was post tax announcement.  As long as we stay above the fast speed lines (blue line) I will be looking for long side trades.  If we continue to push down there I will have to reassess.  If we push below there I might look for short term shorts.  I want to wait and see what happens in the news over the next couple days.  The Bonds, Euro, and Crude Oil need to be watched closely.

Everyone wants to know what is going on with Apple.  It is still locked in with one of my Hoffman Inventory Retracement Bars.  Those are very powerful.  That is where one or more institutions have proven that there is resistance there.  That ties very well with what I have been telling you with the negative divergences.  We were making the higher high in price and also locked in the IRB.  We are still just stick in that area despite the general bullishness from the past couple days.  I am really looking to get above the early April highs.  We could possibly say 150 or above.

There is so much to keep in mind here.  I look forward to seeing you all in the Live Trading Room or in the upcoming videos.

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