June 3, 2014
- in Uncategorized by schooloftrade
3 Ways to PROFIT from Range-Bound Markets | SchoolOfTrade Newsletter 06 02 14
Click here to download today’s Newsletter Charts & Commentary
“Pressure makes diamonds or dust…which one are you going to be?” – Joseph James
Today’s Newsletter:
· Markets Today: Range-Bound & Volume is ‘balanced’ on all markets
· News for Tomorrow: Lots of Red-Star News on the Schedule!
· Trading Opportunities: Selling opportunities on ALL our markets!
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The Markets Today:
Crude Oil:
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Crude Oil Futures VIP Chart |
Crude Oil traded sideways today, right on top of the lows from last Friday around 102.40.
We had a narrow trading-range today, only 67-ticks, which tells us that Crude Oil traders are waiting on something later in the week.
The biggest clue we see on this VIP chart is the VOLUME spike above the lows from last week. This volume at 102.43 tells us that the sellers aren’t as strong as they appeared early in the session today.
Make sure you register for our Nightly-Newsletter on our website so you don’t miss these winning trading opportunities next time!
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Gold:
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Gold Futures VIP Chart |
Gold traded sideways today, completely balanced in the middle of the range and right on top of the closing-price from last Friday.
We opened in the middle, closed in the middle, and the volume is all in the middle as well…telling us this market-personality is ‘balanced’.
We can assume Gold traders are waiting for Thursday morning’s news release from the ECB, so we will stay patient for the bigger moves on Gold later in the week.
Don’t forget to register for our Nightly-Newsletter so you never miss another trading opportunity again!
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Mini-Russell:
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Mini-Russell Futures VIP Chart |
The Mini-Russell traded sideways with a slight tone of bearish market-personality today as it broke free of the narrow trading-range we saw from last week.
We can see that the sellers tried to push this price-action lower in the middle of the session today, but the correction in the 10am EST news sent the price-action right back to where it started, back at the lows from last week.
We opened in the middle, closed in the middle, and all the volume is in the middle.
This market-personality is completely balanced going into tomorrow morning.
Did you register for the Nightly-Newsletter on our website? Make sure you register so you never miss another newsletter or winning opportunity again!
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News Tomorrow:
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Economic news for Tuesday |
Tomorrow we have a TON of major news on the economic calendar, starting in China/Australia, then moving into Europe and then into the US morning session.
Overnight: We have major news from China and Australia starting this evening at 9:30pm EST.
London trading session: Tomorrow morning in the London trading session (3am-7am EST) we have more important news from the EU starting at 5:00am EST.
US Morning Session: Tomorrow morning in the US we have mid-morning news from Factory Orders, which is another important ‘manufacturing-related’ news report which will have us watching closely.
· 5:00am EST: HICP Flash & Un-Employment Rate
· 10:00am EST: Factory Orders
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Day Trading Opportunities for Tomorrow:
Crude Oil:
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Crude Oil Futures Anchor Chart |
Crude Oil is trading lower on our 32-anchor chart this evening. With new lower-lows and lower-highs we can clearly see the sellers are in control, so our day trading plan for
Crude Oil will consist of selling opportunities on the way down to the next support levels around 101.44.
Our day trading plan for Crude Oil tomorrow has three (3) scenarios:
· Higher: If we rise higher we will look for selling opportunities at 103.02, 103.24, 103.55, 103.73, and 103.99. Our profit-target will be down at 101.44.
· Sideways: If we trade sideways we will mark the highs and the lows of the range and buy-the-lows at support and sell-the-highs at resistance.
· Lower: if we move lower (without a retracement) we will use our wave-pattern short to get into the position on the way to a profit-target down at 101.44
Short-Term Trading & Scalping:
Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
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Gold:
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Gold Futures Anchor Chart |
Gold tumbled lower last week, which clearly tells us the market-personality is bearish, however our big concern has been selling at these ‘discounted’ prices.
We would much rather wait for price to retrace off these lows and give us better opportunities to ‘get short’ later in the week..
Our day trading plan for Gold tomorrow has three (3) scenarios:
· Higher: If prices push higher we are looking for selling opportunities at 1251.3, 1253.7, 1257.1 and 1259.2 with a profit-target below us down at the support level at 1227.3 (89anchor)
· Sideways: If we trade sideways we will mark the highs and the lows of the range and buy-the-lows at support and sell-the-highs at resistance.
· Lower: if we move lower (without a retracement first) we will then get back to selling short using our wave-pattern short. Our profit-target for the selling opportunities will be 1227.3 off our 89-anchor chart
Short-Term Trading & Scalping:
Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
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Mini-Russell :
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Mini-Russell Futures Anchor Chart |
Mini-Russell is pushing lower this evening after collapsing off the recent range-bound market we saw last week at the 1143.9 resistance.
We can see lower-lows and lower-highs on the way down to the 1116.9 support, which tells us this market-personality is bearish and we will be looking for selling opportunities on the way down.
Our day trading plan for Mini-Russell tomorrow has three (3) scenarios:
· Higher: if price pushes higher we are looking for selling opportunities at the 2 zones above us at 1131.9, 1135.0, 1139.5 and 1142.2 with a profit-target down at 1115.3.
· Sideways: If we trade sideways we will mark the highs and the lows of the range and buy-the-lows at support and sell-the-highs at resistance.
· Lower: we have the ‘green light’ to sell short at this time because we’ve recently made lower-lows and our profit-target will be 1115.3.
Short-Term Trading & Scalping:
Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
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