May 15, 2014
- in Uncategorized by schooloftrade
6 Ways to Trade OPEX Friday | SchoolOfTrade Newsletter 05-15-14
“If you want to be successful, find someone who has achieved the results you want and copy what they do and you’ll achieve the same results.”
Today’s Newsletter:
· Last Night: Buying Gold, Selling Mini-Russell, waiting on Crude Oil
· Markets Today: Gold sideways, Crude Oil pulls back, Mini-Russell collapses
· News for Tomorrow: OPEX-Friday
· Trading Opportunities: Selling Mini-Russell, Buying Crude Oil, Gold consolidation
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The Markets Today:
Crude Oil:
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Crude Oil VIP Chart |
Crude Oil pushed lower in today’s trading session after buyers took profit overnight and reacted to bearish news out of Europe.
We had another narrow trading-range today, moving only 86-ticks as traders speculate on the situation happening in Ukraine.
Going into Friday, we are paying close attention to the prior-week highs at 101.14 and the big-round-number down at $100/barrel as targets below us.
Make sure you register for our Nightly-Newsletter on our website so you don’t miss these winning trading opportunities next time!
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Gold:
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Gold VIP Chart |
Gold is still trading inside the range from last week, and we have been waiting for selling opportunities at the highs and buying opportunities at the lows but right now we are in the MIDDLE of this range.
For tomorrow, we are watching the prior-week’s lows down at 1284.8 as a target.
Trade Called Last Night:
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Day Trading Gold Futures |
Last night we called the trade LONG at the lows of the price wedge using the 1293.4 zone as our trigger. This trade earned over $1,000 per contract!
Don’t forget to register for our Nightly-Newsletter so you never miss another trade call again!
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Mini-Russell:
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Mini-Russell VIP Chart |
Just as we expected, the Mini-Russell pushed lower in today’s session, moving all the way down to the lows of the range at 1078.7.
Look closely and you can see the Mini-Russell pushed below the prior-week-lows at 1087.1 and then reversed and closed above that level to finish the day at the highs of today’s range.
Going into Friday, we are paying close attention to the prior-week-close at 1104.6 if the buyers take control, as well as the lows of this range at 1078.7 because we know there will be a lot of buyers at these lows, and if those buyers fail we are going to see a BIG selloff as prices push lower.
Trade Called Last Night:
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Day Trading Mini-Russell Futures |
Last night we NAILED the short trade called on our newsletter. With new lower-lows we were selling short, with a profit-target down at the 1078.5.
If you recall, earlier this week we started selling up at the 1126.1 level and we have taken this price ALL THE WAY TO THE BOTTOM, which earned us over $5,000 per contract this week alone!
Did you register for the Nightly-Newsletter on our website? Make sure you register so you never miss another newsletter or winning trade again!
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News Tomorrow:
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Economic News for Tomorrow |
Tomorrow we will finish up a very profitable week with Options Expiration Friday (OPEX), which is the last day of trading before options officially expire on Saturday morning.
Tomorrow morning we have some Red-Star News early in the session, which will hopefully give this OPEX-Friday some exciting price-action before the morning comes to an end around 11:00am EST.
The most important thing to remember when trading on OPEX-Friday is that volume and market-personality will change dramatically after 11:00am EST, and the only people trading after 11:00am EST tomorrow will be from necessity or ignorance.
Click here to download the Options Expiration Calendar for 2014
We will be watching the clock very closely tomorrow morning after 10:30am EST looking for clues in the market-personality that tells us the weekend has begun and to shut down the charts for the weekend.
· ALL DAY: OPEX-Friday
· 8:30am: Housing Starts
· 9:55am: Consumer Sentiment
Contract Rollover: Crude Oil
Heads up on Crude Oil Futures, which will be rolling forward to the 07-14 contract at the end of this week.
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Day Trading Opportunities for Tomorrow:
Crude Oil:
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Crude Oil Anchor Chart |
Crude Oil is bullish this evening on the anchor chart. We are above the key moving-averages and pulling back into our support zones, which means we are looking for buying opportunities this evening and into Friday morning.
Our day trading plan on Crude Oil is to look for buying opportunities at 101.18, 100.83, 100.34, 100.05, and 99.58. Our profit-targets on these will be back at the highs of the price wedge around 102.65 and 102.92.
Short-Term Trading & Scalping: Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
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Gold:
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Gold Anchor Chart |
Gold is trading near the lows of this price wedge on our anchor chart this evening, which means we are looking for buying opportunities at these lows.
Our day trading plan for Friday is to trade inside this price wedge, buying the lows and selling the highs while avoiding trades in the middle of the range.
Short-Term Trading & Scalping: Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
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Mini-Russell :
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Mini-Russell Anchor Chart |
Mini-Russell tumbled lower today, all the way to the lows of the range, which means we are still interested in more selling opportunities, however we need to be careful not to sell short directly into these lows.
Remember, we have watched the buyers protect these lows with BIG BLOCK ORDERS today, and the same happened last Friday as well. This tells us to be careful trying to force trades short down at the lows.
Our day trading plan for the Mini-Russell is to look for selling opportunities at the 1098.5, 1101.0, 1106.9, 1113.6, and 1123.0 areas on this anchor chart. Our profit-target for the selling will be the lows at 1078.7 and 1073.5.
In addition, if we see price-action make a clean break below the 1078.7 we will be watching for a massive sell-off, and if that occurs we will get in SHORT right along with the sellers down to the 1073.5 target.
Short-Term Trading & Scalping: Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
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