November 19, 2015
- in Uncategorized by schooloftrade
3 Ranges for Thursday | Crude Oil, Gold, E-mini & Euro Futures 11/18/15
“Excellence is an art won by training and habituation. We do not
act rightly because we have virtue or excellence, but we rather have those
because we have acted rightly. We are what we repeatedly do. Excellence, then,
is not an act but a habit.”
act rightly because we have virtue or excellence, but we rather have those
because we have acted rightly. We are what we repeatedly do. Excellence, then,
is not an act but a habit.”
Notes for Tonight’s Newsletter:
Crude
Oil is trading inside a multi-day trading-range
this evening and we are ‘rotating’
higher after testing the lows of the range so our plan so we are looking for
buying opportunities as we rotate up to the highs of the range. Look closely and you can see the sellers
missed the range-low
by only a tick, which leaves the door open for them to try again, but it looks
like the bulls have control at this time so we will be looking for seller-failures
on the way down to catch this move back to the highs.
Oil is trading inside a multi-day trading-range
this evening and we are ‘rotating’
higher after testing the lows of the range so our plan so we are looking for
buying opportunities as we rotate up to the highs of the range. Look closely and you can see the sellers
missed the range-low
by only a tick, which leaves the door open for them to try again, but it looks
like the bulls have control at this time so we will be looking for seller-failures
on the way down to catch this move back to the highs.
E-mini
S&P is bullish with a strong push higher inside a major bull
channel today so our plan is to look for buying opportunities after a measured-correction
off today’s highs. The bulls had control
today with channel-rotation
and measured-moves
going higher. Volume at the highs of the
range was very high and a big clue that buyers took profit at the close and we
wait for the pullback to look for additional buying opportunities on the way
back to today’s highs and beyond.
S&P is bullish with a strong push higher inside a major bull
channel today so our plan is to look for buying opportunities after a measured-correction
off today’s highs. The bulls had control
today with channel-rotation
and measured-moves
going higher. Volume at the highs of the
range was very high and a big clue that buyers took profit at the close and we
wait for the pullback to look for additional buying opportunities on the way
back to today’s highs and beyond.
Gold
is trading sideways inside a very narrow trading-range
with a bearish-bias this evening which means we will look to ‘fade’
the break higher and use the ‘2-try-rule’
with range-rotation to find the best trading opportunities tomorrow. Today’s FOMC Meeting Minutes clearly had the
attention of gold traders which means tomorrow’s reaction to the news will tell
us exactly where we go next. We will be
paying close attention to the ‘2 try
rule’ and ‘range
rotation’ on Thursday.
is trading sideways inside a very narrow trading-range
with a bearish-bias this evening which means we will look to ‘fade’
the break higher and use the ‘2-try-rule’
with range-rotation to find the best trading opportunities tomorrow. Today’s FOMC Meeting Minutes clearly had the
attention of gold traders which means tomorrow’s reaction to the news will tell
us exactly where we go next. We will be
paying close attention to the ‘2 try
rule’ and ‘range
rotation’ on Thursday.
Euro
is trading sideways inside the same trading-range
from yesterday which means our plan remains the same; we will use failure
patterns to profit from range-rotation as we look for buyers and sellers
caught on the wrong side of the market. Sellers just missed their rotation
down to 1.0619 which means we are likely to see the buyers take price higher to
fill the ‘gap’
at 1.0696 before giving control back to the sellers again.
is trading sideways inside the same trading-range
from yesterday which means our plan remains the same; we will use failure
patterns to profit from range-rotation as we look for buyers and sellers
caught on the wrong side of the market. Sellers just missed their rotation
down to 1.0619 which means we are likely to see the buyers take price higher to
fill the ‘gap’
at 1.0696 before giving control back to the sellers again.
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