November 2, 2015
- in Uncategorized by schooloftrade
5 Trades for Tuesday | Crude Oil, Gold, E-mini & Euro Futures 11/02/15
“Pain is temporary. It may last a minute, or an hour, or a day,
or a year, but eventually it will subside and something else will take its
place. If I quit, however, it lasts forever.”
or a year, but eventually it will subside and something else will take its
place. If I quit, however, it lasts forever.”
Notes for Tonight’s Newsletter:
Crude
Oil is sideways
and balanced this evening, so our plan is to buy the lows and sell the highs of
the range using failure
patterns tomorrow. We can see a
flat moving-average, balanced volume, and the inability for the buyers or
sellers to take control, so we will anticipate range-rotation
and use every opportunity to look for traps as price moves from low to high,
and vice versa until we see the ‘2-try-rule’
qualify a breakout.
Oil is sideways
and balanced this evening, so our plan is to buy the lows and sell the highs of
the range using failure
patterns tomorrow. We can see a
flat moving-average, balanced volume, and the inability for the buyers or
sellers to take control, so we will anticipate range-rotation
and use every opportunity to look for traps as price moves from low to high,
and vice versa until we see the ‘2-try-rule’
qualify a breakout.
E-mini
S&P is bullish with a spike
& channel this evening which tells us the buyers showed definite
control today, but these buyers will need to take profit and re-load at a
lower price tomorrow, so our plan is to stay patient for a deep
correction off today’s highs and use seller-failures
to buy more. The typical spike &
channel correction will go back to the base of the channel (2075.00 area) so
sellers have a window to sell down to that level, just be sure to use
buyer-failures on pullbacks
for the most reliable counter-trend trades back down.
S&P is bullish with a spike
& channel this evening which tells us the buyers showed definite
control today, but these buyers will need to take profit and re-load at a
lower price tomorrow, so our plan is to stay patient for a deep
correction off today’s highs and use seller-failures
to buy more. The typical spike &
channel correction will go back to the base of the channel (2075.00 area) so
sellers have a window to sell down to that level, just be sure to use
buyer-failures on pullbacks
for the most reliable counter-trend trades back down.
Gold
has been trending
lower since last week’s FOMC
announcement, and our plan remains the same; we are looking for
selling opportunities every time we see short-term
corrections off the lows, using buyer-failures as the entry trigger. This market is clearly bearish, but the
strong bear-trend
makes it hard to get a good entry up off the lows, so stay patient for sellers
to take profit, price will push higher, and then look for buyers to fail on the
pullbacks
and sell into their stops!
has been trending
lower since last week’s FOMC
announcement, and our plan remains the same; we are looking for
selling opportunities every time we see short-term
corrections off the lows, using buyer-failures as the entry trigger. This market is clearly bearish, but the
strong bear-trend
makes it hard to get a good entry up off the lows, so stay patient for sellers
to take profit, price will push higher, and then look for buyers to fail on the
pullbacks
and sell into their stops!
Euro
is sideways and range-bound
this evening so our plan will be to ‘fade’
all the breakouts using failure
patterns selling the highs and buying the lows. We can see a flat moving-average,
balanced volume,
and the inability for the buyers or sellers to take control, so we will
anticipate range-rotation
and use every opportunity to look for traps as price moves from low to high,
and vice versa until we see the ‘2-try-rule’
qualify a breakout.
is sideways and range-bound
this evening so our plan will be to ‘fade’
all the breakouts using failure
patterns selling the highs and buying the lows. We can see a flat moving-average,
balanced volume,
and the inability for the buyers or sellers to take control, so we will
anticipate range-rotation
and use every opportunity to look for traps as price moves from low to high,
and vice versa until we see the ‘2-try-rule’
qualify a breakout.
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