November 18, 2015
- in Uncategorized by schooloftrade
6 Trades for Wednesday | Crude Oil, Gold, E-mini & Euro Futures 11/17/15
“The quality of a person’s life is in direct proportion to their
commitment to excellence, regardless of their chosen field of endeavor.”
commitment to excellence, regardless of their chosen field of endeavor.”
Notes for Tonight’s Newsletter:
Crude
Oil is bearish and rotating
back to the lows from Monday’s trading session ahead of tomorrow’s inventory
report so our plan is to look for selling opportunities at resistance levels
overhead while trading around tomorrow’s big
news. Buyers failed to keep price
moving higher after Monday’s session and the bears made them pay for it by
quickly moving price back into the middle of the range within striking distance
of the $40/barrel
support level. Tomorrow is ‘inventory
day’ which means ANYTHING can happen, so we will wait to see what the
price-action tells us tomorrow morning.
Oil is bearish and rotating
back to the lows from Monday’s trading session ahead of tomorrow’s inventory
report so our plan is to look for selling opportunities at resistance levels
overhead while trading around tomorrow’s big
news. Buyers failed to keep price
moving higher after Monday’s session and the bears made them pay for it by
quickly moving price back into the middle of the range within striking distance
of the $40/barrel
support level. Tomorrow is ‘inventory
day’ which means ANYTHING can happen, so we will wait to see what the
price-action tells us tomorrow morning.
E-mini
S&P is balanced and range-bound
with a bull-bias
this evening and our plan is to look for seller-failures at support levels tomorrow
while using range-rotation
and the ‘2-try-rule’. The bulls didn’t give anything back after yesterday’s
big run higher and this balanced market is clearly showing the acceptance of
this higher price in the market so we will look for counter-trend sellers to
get ‘trapped’
on the wrong side of the market as we ‘rotate’
around this range.
S&P is balanced and range-bound
with a bull-bias
this evening and our plan is to look for seller-failures at support levels tomorrow
while using range-rotation
and the ‘2-try-rule’. The bulls didn’t give anything back after yesterday’s
big run higher and this balanced market is clearly showing the acceptance of
this higher price in the market so we will look for counter-trend sellers to
get ‘trapped’
on the wrong side of the market as we ‘rotate’
around this range.
Gold
is bearish this evening and coming off a strong overshoot
of the channel lows and we expect to see a bullish
correction before getting the bears involved again for the next push
down. We can see a bear-channel
and we pushed too far and now the buyers are correcting back higher with a
bull-channel of their own. We will look
for selling opportunities after this measured-correction
and an overshoot
of the channel-highs and use buyer-failures
for our earliest opportunity to sell the highs tomorrow.
is bearish this evening and coming off a strong overshoot
of the channel lows and we expect to see a bullish
correction before getting the bears involved again for the next push
down. We can see a bear-channel
and we pushed too far and now the buyers are correcting back higher with a
bull-channel of their own. We will look
for selling opportunities after this measured-correction
and an overshoot
of the channel-highs and use buyer-failures
for our earliest opportunity to sell the highs tomorrow.
Euro
is range-bound with a bear-bias
this evening, so our plan is to look for selling opportunities using range-rotation
and the ‘2-try-rule’. We expect buyers to ‘rotate’ price up to the
highs of the bear-channel and range-highs where we will look for failure
patterns to sell the highs of the range.
if the buyers FAIL to test the range-high at 1.0678
we then look VERY bearish down to the next range level below at 1.0620
for the target.
is range-bound with a bear-bias
this evening, so our plan is to look for selling opportunities using range-rotation
and the ‘2-try-rule’. We expect buyers to ‘rotate’ price up to the
highs of the bear-channel and range-highs where we will look for failure
patterns to sell the highs of the range.
if the buyers FAIL to test the range-high at 1.0678
we then look VERY bearish down to the next range level below at 1.0620
for the target.
· 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
