October 13, 2015
- in Uncategorized by schooloftrade
3 Ranges for Wednesday | Crude Oil, Gold, E-mini & Euro Futures 10/13/15
“Your time is limited; don’t waste it living someone else’s
life. Don’t be trapped by dogma, which is living the result of other people’s
thinking. Don’t let the noise of other’s opinion drowned your own inner voice.
And most important, have the courage to follow your heart and intuition, they
somehow already know what you truly want to become. Everything else is
secondary.”
life. Don’t be trapped by dogma, which is living the result of other people’s
thinking. Don’t let the noise of other’s opinion drowned your own inner voice.
And most important, have the courage to follow your heart and intuition, they
somehow already know what you truly want to become. Everything else is
secondary.”
Notes for Tonight’s Newsletter:
Crude
Oil is range-bound this evening; our plan is to buy the lows and sell the
highs and use the ‘2 try
rule’ to qualify a successful breakout
on Wednesday. We are currently looking
for the sellers to fail at the lows so we can buy into their stop-losses on the
way back to the highs of the range. If
sellers are successful we will use the ‘2 try
rule’ to know when this breakout is legit and should be followed lower.
Oil is range-bound this evening; our plan is to buy the lows and sell the
highs and use the ‘2 try
rule’ to qualify a successful breakout
on Wednesday. We are currently looking
for the sellers to fail at the lows so we can buy into their stop-losses on the
way back to the highs of the range. If
sellers are successful we will use the ‘2 try
rule’ to know when this breakout is legit and should be followed lower.
E-mini
S&P is range-bound this evening and trading at the lows of the range so
we are watching for sellers
to fail so we can buy these lows while using the ‘2 try
rule’ to qualify this breakout lower.
Target above us at the 50%
and then back to the range-highs, but if the sellers can keep this price below
the lows of the range we are likely to see a run lower to the range-expansions
below.
S&P is range-bound this evening and trading at the lows of the range so
we are watching for sellers
to fail so we can buy these lows while using the ‘2 try
rule’ to qualify this breakout lower.
Target above us at the 50%
and then back to the range-highs, but if the sellers can keep this price below
the lows of the range we are likely to see a run lower to the range-expansions
below.
Gold
is bullish with a spike
& channel this evening which tells us the buyers are strong, and the
best opportunity will come after a measured-correction
off today’s highs so we will be staying patient tomorrow. The spike
& channel SCREAMS strength from the buyers, but the reality is that we
cannot buy these highs b/c the initiating buyers will need to take profit, and
when they do the sellers will attack, and when the correction
is completed then we will get the best buying opportunity!
is bullish with a spike
& channel this evening which tells us the buyers are strong, and the
best opportunity will come after a measured-correction
off today’s highs so we will be staying patient tomorrow. The spike
& channel SCREAMS strength from the buyers, but the reality is that we
cannot buy these highs b/c the initiating buyers will need to take profit, and
when they do the sellers will attack, and when the correction
is completed then we will get the best buying opportunity!
Euro
is completely balanced and trading
sideways inside a very clear trading-range this evening which means we’re
looking to buy the lows and sell the highs using failure
patterns tomorrow. The volume is a
big clue on days like today, which encourages us to ‘fade’
all breakouts of the highs and lows of the range, and use the ‘2 try rule’
to qualify anything trying to move outside this range.
is completely balanced and trading
sideways inside a very clear trading-range this evening which means we’re
looking to buy the lows and sell the highs using failure
patterns tomorrow. The volume is a
big clue on days like today, which encourages us to ‘fade’
all breakouts of the highs and lows of the range, and use the ‘2 try rule’
to qualify anything trying to move outside this range.
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