November 20, 2015
- in Uncategorized by schooloftrade
4 Trading Traps for Friday | Crude Oil, Gold, E-mini & Euro Futures 11/19/15
“If you are going to achieve excellence in big things, you
develop the habit in little matters. Excellence is not an exception; it is a
prevailing attitude.”
develop the habit in little matters. Excellence is not an exception; it is a
prevailing attitude.”
Notes for Tonight’s Newsletter:
Crude
Oil is range-bound and rotating higher off the lows of the range which
gives the edge to the bulls tomorrow with a target up at 42.77
range-highs. We don’t know HOW the bulls
will get to 42.77; they might make a run at the lows, or they might just shoot
this higher. If the push lower we look
for seller-failure
as it tries to re-visit the lows, and if they push it higher we use
seller-failures or measured-corrections to buy the
pullbacks on the way to the highs.
Watch out for the short-term measured-move
resistance at 42.07 on the way up.
Oil is range-bound and rotating higher off the lows of the range which
gives the edge to the bulls tomorrow with a target up at 42.77
range-highs. We don’t know HOW the bulls
will get to 42.77; they might make a run at the lows, or they might just shoot
this higher. If the push lower we look
for seller-failure
as it tries to re-visit the lows, and if they push it higher we use
seller-failures or measured-corrections to buy the
pullbacks on the way to the highs.
Watch out for the short-term measured-move
resistance at 42.07 on the way up.
E-mini
S&P is range-bound with a bearish-bias this evening after 2 days of
strong buying which means we will be waiting for more information tomorrow
morning to see who takes control.
Today’s narrow trading-range
has a clear bearish-bias because the bulls didn’t even come close to re-testing
the highs and this tells us that sellers will likely be waiting for bulls to
try and buy the highs for easy
traps to sell it back down. If price
pushes lower, there will be buyers waiting to ‘buy
the dip’ but the bearish bias to the range today tells us to be suspicious
of the bulls.
S&P is range-bound with a bearish-bias this evening after 2 days of
strong buying which means we will be waiting for more information tomorrow
morning to see who takes control.
Today’s narrow trading-range
has a clear bearish-bias because the bulls didn’t even come close to re-testing
the highs and this tells us that sellers will likely be waiting for bulls to
try and buy the highs for easy
traps to sell it back down. If price
pushes lower, there will be buyers waiting to ‘buy
the dip’ but the bearish bias to the range today tells us to be suspicious
of the bulls.
Gold is
range-bound with a bullish-bias this evening after we saw a spike
& channel send price higher this afternoon. We should see buyers rotate price higher
overnight and if they don’t reach 1086.0 we then expect price to make a run
back to the beginning of the spike
& channel.
range-bound with a bullish-bias this evening after we saw a spike
& channel send price higher this afternoon. We should see buyers rotate price higher
overnight and if they don’t reach 1086.0 we then expect price to make a run
back to the beginning of the spike
& channel.
Euro is
range-bound with a bullish-bias this evening along with an interesting bull-channel
that gives us some easy clues as to where the smart buyers will be looking for
the best opportunities tomorrow. We have
measured-moves
higher today which tells us the bears are likely to take this price lower
before it goes higher, and combine that with range-rotation
and a bull-channel-overshoot we would love to get some buying opportunities at support
levels where buyers who are already in this move will likely have their stops
ready to be taken-out before the next push higher.
range-bound with a bullish-bias this evening along with an interesting bull-channel
that gives us some easy clues as to where the smart buyers will be looking for
the best opportunities tomorrow. We have
measured-moves
higher today which tells us the bears are likely to take this price lower
before it goes higher, and combine that with range-rotation
and a bull-channel-overshoot we would love to get some buying opportunities at support
levels where buyers who are already in this move will likely have their stops
ready to be taken-out before the next push higher.
· Join our Live Trade Room as a GUEST here
===========================================================
Want to see us trade LIVE? Click here to register for the Free Trial!
Are you a Crude Oil Trader? Click here to trade Crude Oil
Are you a Euro Trader? Click here to trade Euro
Are you an E-Mini Russell Trader? Click here to trade E-Mini Russell
Are you a Gold Trader? Click here to trade Gold
Join the Premier Live trade-room as an Advanced Member
