August 17, 2015
- in Uncategorized by schooloftrade
8 Trades for Tuesday | Crude Oil, Gold, E-mini & Euro Futures 08/17/15
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Notes for Tonight’s Newsletter:
Crude Oil and E-Mini S&P have trading-ranges to work with, while Gold and Euro are trying to shrug-off buyers at channel-highs as we head into another exciting session on Tuesday… are you ready?
Crude Oil is bearish and trading inside a channel which means sellers will be looking for trades near the highs as well as opportunities to sell at support levels using failure patterns on the way to re-test the range-lows.
E-mini S&P is testing the highs of the range this evening which means sellers will be looking for reversal patterns at resistance levels and buyer-failures at support levels to sell the highs of this range.
Gold is bearish and trading with an ‘overshoot’ of the highs which means sellers are looking for buyer-failures at support levels to sell the highs.
Euro is coming off the overshoot of the channel-highs and ‘rotating’ back towards the lows of the channel which means sellers are looking for opportunities up at resistance as well as buyer-failures at support levels on the way lower.
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