December 3, 2015
- in Uncategorized by schooloftrade
4 Range Trades Thursday | Crude Oil, Gold, E-mini & Euro Futures 12/02/15
Formal
education will make you a living; self-education will make you a fortune.
education will make you a living; self-education will make you a fortune.
Notes for Tonight’s Newsletter:
Crude
Oil is bearish with three great clues telling us where to look for the best
selling opportunities tomorrow, but first we need to wait for the
correction. First, we have a major bear-channel,
telling us to sell the highs. Second, we
have a bear spike
& channel telling us to expect a profit-taking correction back up as
high as 41.26. Third, the trading-range
that began the day broke down and we tested the 39.99 range-expansion
which tells us buyers now have the ‘ball’ and will attempt to rotate higher to
40.97. Our plan is simple… wait for
the correction and look for opportunities to sell into buyer-failures.
Oil is bearish with three great clues telling us where to look for the best
selling opportunities tomorrow, but first we need to wait for the
correction. First, we have a major bear-channel,
telling us to sell the highs. Second, we
have a bear spike
& channel telling us to expect a profit-taking correction back up as
high as 41.26. Third, the trading-range
that began the day broke down and we tested the 39.99 range-expansion
which tells us buyers now have the ‘ball’ and will attempt to rotate higher to
40.97. Our plan is simple… wait for
the correction and look for opportunities to sell into buyer-failures.
E-mini
S&P is bearish and we will use the bear-channel
and trading-range
from today’s session to look for selling opportunities after a
bullish-correction tomorrow. This bearish-channel
tells us to look for selling opportunities up at the highs, as well as if it
breaks higher. The trading-range
tells us to expect ‘rotation’
inside the current range, and if the bulls push price higher the sellers will
be looking to ‘fade’
the breakout and send it right back down again.
S&P is bearish and we will use the bear-channel
and trading-range
from today’s session to look for selling opportunities after a
bullish-correction tomorrow. This bearish-channel
tells us to look for selling opportunities up at the highs, as well as if it
breaks higher. The trading-range
tells us to expect ‘rotation’
inside the current range, and if the bulls push price higher the sellers will
be looking to ‘fade’
the breakout and send it right back down again.
Gold
is bearish with a strong bear-channel
and a trading-range
with a bear-bias this evening which tells us to wait for the bulls to try and
push price higher and sell into their failures tomorrow. The bear-channel
confirms the direction for us, the trading-range
tells us to expect rotation, and to look for failures if/when the buyers try to
send this price higher.
is bearish with a strong bear-channel
and a trading-range
with a bear-bias this evening which tells us to wait for the bulls to try and
push price higher and sell into their failures tomorrow. The bear-channel
confirms the direction for us, the trading-range
tells us to expect rotation, and to look for failures if/when the buyers try to
send this price higher.
Euro
is confused after both sides took turns today ahead of tomorrow’s
highly-anticipated ECB-Announcement,
so we will trade this like a range, which means ‘rotation’
is the key to our success tomorrow. Our
plan will be to stay away from the news early tomorrow morning and then try to
find some decent price-action
after the news is released. The trading-range,
and the expansions above and below will play key roles tomorrow, and we will
look to ‘fade’
all breakouts until we see proof from the ‘2 try
rule’ taking us into a new range.
is confused after both sides took turns today ahead of tomorrow’s
highly-anticipated ECB-Announcement,
so we will trade this like a range, which means ‘rotation’
is the key to our success tomorrow. Our
plan will be to stay away from the news early tomorrow morning and then try to
find some decent price-action
after the news is released. The trading-range,
and the expansions above and below will play key roles tomorrow, and we will
look to ‘fade’
all breakouts until we see proof from the ‘2 try
rule’ taking us into a new range.
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