August 7, 2014
- in Uncategorized by schooloftrade
3 Ways to PROFIT from the CHAOS | SchoolOfTrade Newsletter 08/07/14
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You’ve done it before and you can do it now. See the positive possibilities. Redirect the substantial energy of your frustration and turn it into positive, effective, unstoppable determination. -Ralph Marston
Today’s Newsletter:
· Markets Today: Crude Oil pushes lower, Mini-Russell tries to go higher and collapses, Gold jumps higher
· News for Tomorrow: China overnight, Europe and US in the morning
· Trading Opportunities: Selling Crude Oil, Mini-Russell, and Gold
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Notes for Tonight’s Newsletter:
Misc:
· The situation in Europe is getting attention this week, economic news keeps going lower, and fears of another recession (along with the USD) go higher
· Russia bans US & EU Imports, rest of the world ‘laughs’
· All eyes on Middle East, Russia, and Europe (did we get it all?)
· Very light news session on Friday, adding to concerns of low volume
· Summer-Friday = low volume and short trading session on Friday
Gold:
· Long-term Direction Bias = SHORT
· Short-term Directional Bias = LONG
· Fundamentals: pushing higher on tensions in Middle East & Russia
· Daily Chart: pushes higher, above the 200 moving-average
· Anchor Chart: testing overhead sell-zone @ 1315.0
· Still looking for selling opportunities at these highs
· Price needs to pull-back to the 200ema before I consider buying Gold
· I am listening to geo-political news closely at this time to see if buying is warranted without the pullback.
Crude Oil:
· Long-Term Direction Bias = SHORT
· Short-Term Directional Bias = SHORT
· Fundamentals: Euro weakness means dollar strength, which means Crude Oil weakness… even while violence increases in the Middle East
· Daily Chart: testing support zone at the lows of the bullish price channel
· 32-Anchor Chart: lower-lows and lower-highs, sluggish around $97.00 today
· 16-Anchor Chart: profit-taking pushes price higher, directly into sell-zone overhead at 97.68 and 97.77
· Profit-targets below @ 96.45, 96.01, and 95.42
Mini-Russell:
· Long-term Direction Bias = SHORT
· Short-term Direction Bias = SHORT
· Fundamentals: Europe expected to re-enter recession as more economic news disappoints, drags down US equities in the short-term
· Daily Chart: sideways-trading-range below the 200 moving-average (1129.1) and above the buy-zone at 1103.3
· 32-Anchor Chart: buyers tried (again) and failed (again) at the highs
· 16-Anchor Chart: new lower-lows, below key moving-averages, and looking to get SHORT
· Profit-targets below @ 1112.4, 1110.0, 1108.9, 1103.1, 1098.1
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