August 6, 2014
- in Uncategorized by schooloftrade
6 Keys to Summer Profit | SchoolOfTrade Newsletter 08/06/14
Don’t be afraid to try something new. The ark was built by amateurs, and the Titanic was built by experts! -Anonymous
Today’s Newsletter:
· Markets Today: Crude Oil pushes lower, Gold and Mini-Russell try to push higher
· News for Tomorrow: BIG news from Europe, Jobless Claims in the US
· Trading Opportunities: Selling Crude Oil, Mini-Russell, and Gold
· Join our Live Trade Room as a GUEST here
Notes for Tonight’s Newsletter:
Misc:
· Today definitely felt like summer in the markets
· Russia adds more troops to the border of Ukraine, Gold jumps on fear of increasing violence
· Poor news from Europe holding-back US Equities
· Crude Oil pushes lower, heads towards seller profit-targets
· Mini-Russell trades sideways, tries to push higher, sellers waiting to sell @ highs
· Gold jumps back to $1300 on geo-political fears in Middle East
Gold:
· Direction Bias = SHORT / NEUTRAL
· Daily Chart: returns back to $1300, reacting on fear in the Middle East
· 32-Anchor Chart: price jumps to the highs of the price channel
· 32-Anchor Chart: still looking bearish, but sellers need to respond at price channel highs
· 16-Anchor Chart: buying pullbacks are lower-percentage. Sellers, use these as profit-targets below.
· Profit-targets below @ 1281.0, 1276.0, 1265.8
Crude Oil:
· Direction Bias = SHORT
· Daily Chart: moving lower, pushing into major support at price channel lows
· 32-Anchor Chart: New lower-lows, headed towards profit-targets below us
· Profit-targets below @ 96.46, 96.02, 95.44, 94.22
Mini-Russell:
· Direction Bias = SHORT / NEUTRAL
· Daily Chart: doji candlestick tells us we are ‘balanced’+
· Bullish Price-action was VERY weak this morning, suspicious of buyer strength
· 32- Anchor Chart: trading sideways, still bearish, although buyers are trying
· (Sellers) Profit-targets below @ trend-line support, 1103.3, 1089.6, 1083.7, 1071.3
· 16-Anchor Chart: new higher-highs with short-term buying opportunities @ 1118.8, 1116.1, 1112.4, 1110.1
· (Buyers) Profit-targets above @ 1131.3, 1137.8, 1145.9
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