November 17, 2015
- in Uncategorized by schooloftrade
Tuesday Trade Plan | Crude Oil, Gold, E-mini & Euro Futures 11/16/15
“Desire is the key to motivation, but it’s determination and
commitment to an unrelenting pursuit of your goal — a commitment to excellence
— that will enable you to attain the success you seek.”
commitment to an unrelenting pursuit of your goal — a commitment to excellence
— that will enable you to attain the success you seek.”
Notes for Tonight’s Newsletter:
Crude
Oil is bullish this evening with a possible trading
range so our plan is to look for buying opportunities at support levels
below while watching for failure and a return back to the low of the
range. We can see the major bull-channel
on the chart this evening tells us to look for buying opportunities up to
complete the measured-move
at 42.60 but the lack of consistent direction today tells us this has potential
to be one large trading
range so we will keep an eye on a possible buyer-failure
on the next pullback as price pushes back to the lows of today’s range.
Oil is bullish this evening with a possible trading
range so our plan is to look for buying opportunities at support levels
below while watching for failure and a return back to the low of the
range. We can see the major bull-channel
on the chart this evening tells us to look for buying opportunities up to
complete the measured-move
at 42.60 but the lack of consistent direction today tells us this has potential
to be one large trading
range so we will keep an eye on a possible buyer-failure
on the next pullback as price pushes back to the lows of today’s range.
E-mini
S&P is bullish this evening with a spike
& channel and a clear sign of buyer-strength after a bearish-gap
over the weekend. Our plan is to use channel-rotation
and measured-corrections
to look for the best opportunities to get ‘LONG’ tomorrow. This bullish spike
& channel started all the way back at 2021.00 area so the pullback
could be very deep, but the buyers definitely have the benefit of the doubt and
the sellers need to prove they can hold off the buyers after the next pullback
if they are going to get anywhere this week.
S&P is bullish this evening with a spike
& channel and a clear sign of buyer-strength after a bearish-gap
over the weekend. Our plan is to use channel-rotation
and measured-corrections
to look for the best opportunities to get ‘LONG’ tomorrow. This bullish spike
& channel started all the way back at 2021.00 area so the pullback
could be very deep, but the buyers definitely have the benefit of the doubt and
the sellers need to prove they can hold off the buyers after the next pullback
if they are going to get anywhere this week.
Gold
is bearish this evening on its way back to the lows from last week so our plan
is to look for selling opportunities using channel-rotation,
measured-corrections, and the short-term
ranges we saw on the way down today.
is bearish this evening on its way back to the lows from last week so our plan
is to look for selling opportunities using channel-rotation,
measured-corrections, and the short-term
ranges we saw on the way down today.
Euro
is bearish with a measured-move
down and a possible range this evening which tells us the most reliable trades
will be after buyers fail to buy the
pullback after channel-rotation
higher off today’s lows. Price is at the
lows of the bear-channel and just below the lows of the possible trading-range
from 1.0757 to 1.0704. We want to wait
for price to move back to the highs of the bear-channel
(rotation) and then we will be back inside the possible range,
so waiting for buyer-failure
at the range-lows will give us the best opportunity to get short tomorrow. If the sellers fail, we will then look for a
test of the range-high at 1.0757.
is bearish with a measured-move
down and a possible range this evening which tells us the most reliable trades
will be after buyers fail to buy the
pullback after channel-rotation
higher off today’s lows. Price is at the
lows of the bear-channel and just below the lows of the possible trading-range
from 1.0757 to 1.0704. We want to wait
for price to move back to the highs of the bear-channel
(rotation) and then we will be back inside the possible range,
so waiting for buyer-failure
at the range-lows will give us the best opportunity to get short tomorrow. If the sellers fail, we will then look for a
test of the range-high at 1.0757.
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