September 3, 2014
- in Uncategorized by schooloftrade
3 Short-Trades for Wednesday | SchoolOfTrade Newsletter 09/02/14
“Knowledge has to be improved, challenged, and increased
constantly, or it vanishes.” –
Peter Drucker
constantly, or it vanishes.” –
Peter Drucker
Notes for Tonight’s Newsletter:
Misc:
· Another exciting session today,
filled with trading opportunities!
filled with trading opportunities!
· Traders return to their desks after a
long, holiday weekend in the US
long, holiday weekend in the US
· Early morning (US) was slow, but
quickly picked-up the pace after 10:30am EST
quickly picked-up the pace after 10:30am EST
· Manufacturing news in the US
registers another milestone, new orders hitting new 10-year highs
registers another milestone, new orders hitting new 10-year highs
· Geo-political impacts appear to have
been forgotten today!
been forgotten today!
· Saudi Arabia arrested 88 people today
as they were plotting attacks… and Crude Oil goes lower?
as they were plotting attacks… and Crude Oil goes lower?
· Gold tumbles $20 to test the $1265
level
level
· Crude Oil tumbles $3.00 lower to test
the $93.00 level
the $93.00 level
· US Equities continue to stay strong
as we kick-off the Fall trading season!
as we kick-off the Fall trading season!
· Summer is over & Fall has officially begun, which is always the BEST season of
the year for professional traders.
the year for professional traders.
· ECB’s
Meeting is this Thursday @ 7:45am EST
Meeting is this Thursday @ 7:45am EST
· Non-Farm Payroll Report is released this Friday @ 8:30am EST
· Join our Live Trade Room as a GUEST here
· Long-Term Direction Bias = SHORT
· Short-Term Directional Bias = SHORT
· Fundamentals:
lack of global fear and a strong dollar are pushing Gold lower this
week.
lack of global fear and a strong dollar are pushing Gold lower this
week.
· Daily Chart:
price-action collapses to test the lows of the price wedge, which we
have been watching for over a month @ 1265.8.
Next support down at 1254.5.
price-action collapses to test the lows of the price wedge, which we
have been watching for over a month @ 1265.8.
Next support down at 1254.5.
· 32-Anchor Chart:
price-action collapses down to the support zone at 1265.0, now we wait
for prices to retrace back into our sell-zone at 1273.4 or 1280.4.
price-action collapses down to the support zone at 1265.0, now we wait
for prices to retrace back into our sell-zone at 1273.4 or 1280.4.
· 16-Anchor Chart:
price-action collapses lower, hard to stay patient, but we need to wait
for price to test our sell-zones overhead at 1271.1 before looking short again
tomorrow.
price-action collapses lower, hard to stay patient, but we need to wait
for price to test our sell-zones overhead at 1271.1 before looking short again
tomorrow.
· Profit-targets below @ price channel lows,
1254.4, 1246.7, 1242.2 and 1232.9
1254.4, 1246.7, 1242.2 and 1232.9
Crude Oil:
· Long-Term Direction Bias = SHORT
· Short-Term Directional Bias = SHORT
· Fundamentals:
lack of fear in the Middle East, combined with a strong dollar are
pushing Crude Oil prices lower
lack of fear in the Middle East, combined with a strong dollar are
pushing Crude Oil prices lower
· Daily Chart: prices tried to move higher last
week, but collapsed this morning all the way back down to the lows of the zone
and testing $93.00/barrel once again.
week, but collapsed this morning all the way back down to the lows of the zone
and testing $93.00/barrel once again.
· 32-Anchor Chart:
prices tested our sell-zone from last week just below $96.00 and
collapsed lower. We noticed that there
were NO NEW LOWS made today, which leaves the door wide open for a sideways-trading-range
on Wednesday.
prices tested our sell-zone from last week just below $96.00 and
collapsed lower. We noticed that there
were NO NEW LOWS made today, which leaves the door wide open for a sideways-trading-range
on Wednesday.
· 16-Anchor Chart:
the move down was a ‘straight line’ on the chart, which tells us the
buyers just ‘gave up’ and the price-action just went back to where it was
SUPPOSED TO BE the entire time. Now we
need to stay patient to see who grabs control from here.
the move down was a ‘straight line’ on the chart, which tells us the
buyers just ‘gave up’ and the price-action just went back to where it was
SUPPOSED TO BE the entire time. Now we
need to stay patient to see who grabs control from here.
· Profit-targets below @ 92.50, 92.15,
90.58, 89.84, 87.97
90.58, 89.84, 87.97
Mini-Russell:
· Long-Term Direction Bias = LONG
· Short-Term Directional Bias = LONG / NEUTRAL
· Fundamentals:
Strong Dollar, Weak Euro, Weak Gold and STRONG economic news in the US
are pushing the e-minis higher.
Strong Dollar, Weak Euro, Weak Gold and STRONG economic news in the US
are pushing the e-minis higher.
· Daily Chart:
pushing higher, next target at 1187.7 and 1198.5 overhead.
pushing higher, next target at 1187.7 and 1198.5 overhead.
· 32-Anchor Chart:
New higher-highs lead to a sideways-trading-range later in the session
today with a recent test of the 1171.0 buy-zone. We are green-light for buying opportunities at
this time, but concerned we may sit inside this range for a while.
New higher-highs lead to a sideways-trading-range later in the session
today with a recent test of the 1171.0 buy-zone. We are green-light for buying opportunities at
this time, but concerned we may sit inside this range for a while.
· 16-Anchor Chart:
New higher-highs to 1181.2 were never broken this afternoon, which is
very easy to tell we are most likely going to trade inside this range. We will resume buying opportunities with a
new higher-high or a re-test of the 1171.0 buy-zone.
New higher-highs to 1181.2 were never broken this afternoon, which is
very easy to tell we are most likely going to trade inside this range. We will resume buying opportunities with a
new higher-high or a re-test of the 1171.0 buy-zone.
· Profit-targets above @ price channel highs,
1187.7, 1194.8, 1198.5, 1203.9
1187.7, 1194.8, 1198.5, 1203.9
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