December 8, 2015
- in Uncategorized by schooloftrade
6 Traps to watch Tuesday| Crude Oil, Gold, E-mini & Euro Futures 12/07/15
If you
don’t design your own life plan, chances are you’ll fall into someone else’s
plan. And guess what they have planned for you? Not much.
don’t design your own life plan, chances are you’ll fall into someone else’s
plan. And guess what they have planned for you? Not much.
Notes for Tonight’s Newsletter:
Crude
Oil is bearish this evening, but after 3
impressive pushes lower in today’s session we know that most professionals
are flat and waiting for a bullish correction
before selling short tomorrow. The
short-term trading-range
has a clear bear-bias this evening so we will look for a breakout
at the highs around 38.29 to sell into buyer-failure. If you are bullish you need to wait for the
buyers to move price higher and hold a pullback
before you can buy this market with any confidence.
Oil is bearish this evening, but after 3
impressive pushes lower in today’s session we know that most professionals
are flat and waiting for a bullish correction
before selling short tomorrow. The
short-term trading-range
has a clear bear-bias this evening so we will look for a breakout
at the highs around 38.29 to sell into buyer-failure. If you are bullish you need to wait for the
buyers to move price higher and hold a pullback
before you can buy this market with any confidence.
E-mini
S&P appears to be bearish this evening after today’s push down off last
Friday’s NFP-Highs, but we see this as nothing more than a buying
opportunity back to the highs of the pending-range
tomorrow. The sellers were taken out of
the market on Friday afternoon by only 1-tick, so if they re-entered short they
got a 50% move back down to break-even
on the trade and now that the sellers are pushed aside the bulls can move this
price back to the highs where we assume there is a pending range-high
at 2095.50.
S&P appears to be bearish this evening after today’s push down off last
Friday’s NFP-Highs, but we see this as nothing more than a buying
opportunity back to the highs of the pending-range
tomorrow. The sellers were taken out of
the market on Friday afternoon by only 1-tick, so if they re-entered short they
got a 50% move back down to break-even
on the trade and now that the sellers are pushed aside the bulls can move this
price back to the highs where we assume there is a pending range-high
at 2095.50.
Gold
is bearish and rotating
inside a trend-channel
this evening so our focus is selling but we will stay patient for the best
opportunities to come after buyer-failures
on the way to the measured-move
target below. The most challenging part
of gold at this time is just the patience not to jump as it grinds lower, stay
patient to sell after buyers try and fail.
is bearish and rotating
inside a trend-channel
this evening so our focus is selling but we will stay patient for the best
opportunities to come after buyer-failures
on the way to the measured-move
target below. The most challenging part
of gold at this time is just the patience not to jump as it grinds lower, stay
patient to sell after buyers try and fail.
Euro
is range-bound
with a bearish bias this evening so our goal is to sell the highs of the range
down to the lows, and ‘fade’
all breakouts that fail to reach the range-rotation
target up at 1.0906 overhead. We can see
the bearish move before going sideways,
and we can see price is at the highs of the range and will want to rotate down
to the lows so we will be looking for buyer-failure
to finish the move down. If price shoots
higher we will patiently wait for the buyers to try twice and if they fail to
reach the next level at 1.0906
overhead we will see that as weakness and look for the pendulum
to swing back to 1.0806 and possibly 1.0756
is range-bound
with a bearish bias this evening so our goal is to sell the highs of the range
down to the lows, and ‘fade’
all breakouts that fail to reach the range-rotation
target up at 1.0906 overhead. We can see
the bearish move before going sideways,
and we can see price is at the highs of the range and will want to rotate down
to the lows so we will be looking for buyer-failure
to finish the move down. If price shoots
higher we will patiently wait for the buyers to try twice and if they fail to
reach the next level at 1.0906
overhead we will see that as weakness and look for the pendulum
to swing back to 1.0806 and possibly 1.0756
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