August 5, 2014
- in Uncategorized by schooloftrade
3 Clues the Trend May be OVER | SchoolOfTrade Newsletter 08/05/14
Don’t lower your expectations to meet your performance. Raise your level of performance to meet your expectations. Expect the best of yourself, and then do what is necessary to make it a reality. -Ralph Marston
Today’s Newsletter:
· Last Night: More winning trade-calls! Crude Oil and Gold
· Markets Today: All markets moving lower… but will it last?
· News for Tomorrow: Red-Star News in Europe and US Session, Crude Oil Inventories
· Trading Opportunities: Selling Crude Oil, Waiting on Gold and Mini-Russell
· Join our Live Trade Room as a GUEST here
Notes for Tonight’s Newsletter:
Misc:
· Gold Trade-Call: Short @ 1294.0, Profit-target at 1284.7 (winner)
· Crude Oil Trade-Call: Short @ 99.47, Profit-target at Lows (winner)
· Red-Star News in Europe and US sessions tomorrow
· Geo-political news still remains a big concern for the markets
· Markets appeared to be ‘exhausted’ today, we are watching the market-personality and price-action closely ahead of Wednesday’s session
Gold:
· Direction Bias = SHORT / Neutral
· Daily Chart: trading in the middle of the range, pushing lower
· Daily Chart: support at the lows of the price wedge @ 1265.8
· 16-Anchor Chart: short-term price wedge with bearish bias
· Profit-targets below @ 1281.0, 1274.5, 1267.9
Crude Oil:
· Direction Bias = SHORT
· Daily Chart: testing major support at price channel lows @ 97.12
· Entry short triggered today @ 8am @ 98.47
· Re-Entry opportunities @ 97.84, 98.03, 98.31 and 98.48
· Profit-targets @ 95.92 and 95.17
Mini-Russell:
· Direction Bias = SHORT / Neutral
· Daily Chart: doji candle, balanced session near the range lows and support @ 1103.3
· 32-Anchor Chart: trading sideways with bias to the short-side
· 16-Anchor chart: trading sideways, waiting for new lower-lows below 1110.4 for more entries short down to 1103.1 and lows of the price channel.
· Profit-targets @ 1103.3, 1101.5, 1089.6 and 1084.6
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