May 7, 2014
- in Uncategorized by schooloftrade
Day Trading Crude Oil, Gold, E-Mini Russell | SchoolOfTrade Newsletter 05/07/14
“Learn how to separate the majors and
the minors. A lot of people don’t succeed because they major in minor things.”
the minors. A lot of people don’t succeed because they major in minor things.”
Today’s Newsletter:
· Markets Today: Crude Oil reversal, Gold
tumbles, Mini-Russell drops then pops!
tumbles, Mini-Russell drops then pops!
· News Today: Janet Yellen shakes
things up, Tensions ease in Ukraine, Crude Oil Inventories drop.
things up, Tensions ease in Ukraine, Crude Oil Inventories drop.
· News for Tomorrow: ECB Announcement,
Jobless Claims in the US, and Janet Yellen testimony.
Jobless Claims in the US, and Janet Yellen testimony.
· Trading Opportunities: Short-Selling
on Gold and Mini-Russell, scrap the selling on Crude Oil and get to buying!
on Gold and Mini-Russell, scrap the selling on Crude Oil and get to buying!
=========================================================
The Markets Today:
Crude Oil:
 |
| Crude Oil VIP Chart |
We began the session on Crude Oil looking for selling
opportunities this morning, but that didn’t last long when we saw the opening-print
at the highs of the range from Tuesday.
This BIG clue told us to scarp the short-selling and get ready for buying
opportunities today.
opportunities this morning, but that didn’t last long when we saw the opening-print
at the highs of the range from Tuesday.
This BIG clue told us to scarp the short-selling and get ready for buying
opportunities today.
We got a boost at 1030am EST from Crude Oil Inventories,
which came out with lower inventories and higher demand, so we were looking in
the right direction from the opening-bell today.
which came out with lower inventories and higher demand, so we were looking in
the right direction from the opening-bell today.
Look closely at this chart and you can see we closed above
the highs from Tuesday (big clue for buyers) and we have two easy profit-targets
above us at the previous week’s open (101.17) and high (102.20) if these buyers
continue to push this price-action higher into Thursday.
the highs from Tuesday (big clue for buyers) and we have two easy profit-targets
above us at the previous week’s open (101.17) and high (102.20) if these buyers
continue to push this price-action higher into Thursday.
Trade Called Last
Night:
Night:
We scrapped the selling opportunities today when we saw the opening-print
at the highs of the range from Tuesday, which told us that something had ‘changed’
in the overnight session.
at the highs of the range from Tuesday, which told us that something had ‘changed’
in the overnight session.
=========================================================
Gold:
 |
| Gold VIP Chart |
Just as we projected last night, Gold tumbled lower in today’s
session, reacting to comments from Janet Yellen (we assume) and ending the
session well below the previous week’s highs and on the way lower to last week’s
lows down at 1272.0.
session, reacting to comments from Janet Yellen (we assume) and ending the
session well below the previous week’s highs and on the way lower to last week’s
lows down at 1272.0.
We notice that the volume profile suggests the most trading
was done at 1297.6, which means overnight we are likely to see a short-covering
rally back to test this area before trying to go lower.
was done at 1297.6, which means overnight we are likely to see a short-covering
rally back to test this area before trying to go lower.
Trade Called Last
Night:
Night:
 |
Day trading Gold |
Last night we called the trade SHORT below 1301.3, with a profit-target
down at 1293.9.
down at 1293.9.
This trade
earned over $800 per contract traded, and was EASY money if you were with us
from last night.
earned over $800 per contract traded, and was EASY money if you were with us
from last night.
=========================================================
Mini-Russell:
 |
| Mini-Russell VIP Chart |
Mini-Russell pushed lower this morning, only to reverse at
the end of the morning session which gave us buying and selling opportunities
in the same trading day…very exciting stuff!
the end of the morning session which gave us buying and selling opportunities
in the same trading day…very exciting stuff!
Look closely and you can see the Mini-Russell pushed below
the lows from last week at 1097.4 and the volume shows just about that level at
1099.5, so we know that the big-round-number at 1100.00 is likely the price-magnet
this evening and into tomorrow.
the lows from last week at 1097.4 and the volume shows just about that level at
1099.5, so we know that the big-round-number at 1100.00 is likely the price-magnet
this evening and into tomorrow.
Trade Called Last
Night:
Night:
| Day Trading Mini-Russell |
Last night we talked about selling opportunities on Mini-Russell
if we made new lower-lows, and that’s exactly what happened.
if we made new lower-lows, and that’s exactly what happened.
We saw lower-lows below the 1101.4 from last night’s chart,
and found easy selling opportunities down to the profit-target at 1097.4.
and found easy selling opportunities down to the profit-target at 1097.4.
This trading
opportunity earned over $400 per contract traded!
opportunity earned over $400 per contract traded!
=========================================================
News Today:
 |
| Janet Yellen |
All eyes were on Janet
Yellen and Crude Oil Inventories this morning in our Live Trade Room, and these
two news events gave us plenty of trading opportunities to work with all day
long.
Yellen and Crude Oil Inventories this morning in our Live Trade Room, and these
two news events gave us plenty of trading opportunities to work with all day
long.
Janet Yellen made very ‘dovish’
comments this morning, which sparked the late-morning rally on the e-mini’s and
sent Gold pushing lower.
comments this morning, which sparked the late-morning rally on the e-mini’s and
sent Gold pushing lower.
One very interesting thing about Janet Yellen’s testimony
this morning was that she not satisfied with the quality of the jobs,
and that she discounted the surprisingly-higher Non-Farm Payroll report last Friday.
this morning was that she not satisfied with the quality of the jobs,
and that she discounted the surprisingly-higher Non-Farm Payroll report last Friday.
The comments from Janet
Yellen were very bullish for Crude Oil and the Mini-Russell, and bearish for Gold
Futures.
Yellen were very bullish for Crude Oil and the Mini-Russell, and bearish for Gold
Futures.
Later in the session we
heard from Crude Oil Inventories, which came out much lower than expected, with a spike higher
in DEMAND. Combine the lower inventories
with easing of tensions in Ukraine and you have some happy Crude Oil traders
buying to new highs.
heard from Crude Oil Inventories, which came out much lower than expected, with a spike higher
in DEMAND. Combine the lower inventories
with easing of tensions in Ukraine and you have some happy Crude Oil traders
buying to new highs.
=========================================================
News Tomorrow:
 |
| Economic news for Thursday |
Thursday
morning will be another day filled with trading opportunities, beginning this
evening in Australia and China, then moving into Europe and the US tomorrow
morning.
morning will be another day filled with trading opportunities, beginning this
evening in Australia and China, then moving into Europe and the US tomorrow
morning.
We begin with news from
Australia and China this evening. We have Employment
numbers being released at 9:30pm EST tonight in OZ, and then early tomorrow
morning we have Trade Balance from China, which will be a very important news
event for traders in Europe tomorrow morning.
Australia and China this evening. We have Employment
numbers being released at 9:30pm EST tonight in OZ, and then early tomorrow
morning we have Trade Balance from China, which will be a very important news
event for traders in Europe tomorrow morning.
We have European news
starting at 3:00am EST but the BIG NEWS will be from the ECB Announcement tomorrow morning at 7:45am
EST and a Press Conference following 30-minutes later.
starting at 3:00am EST but the BIG NEWS will be from the ECB Announcement tomorrow morning at 7:45am
EST and a Press Conference following 30-minutes later.
In the US session we have Jobless Claims at 8:30am, and then
we hear from Janet Yellen once again at 9:30am EST as she testifies before the
Budget Committee in Washington DC.
we hear from Janet Yellen once again at 9:30am EST as she testifies before the
Budget Committee in Washington DC.
9:30pm: (AU) Labour
Force Survey
Force Survey
2:00am: (CN) Trade
Balance
Balance
3:15am: (CH) Consumer
Prices
Prices
7:00am: (GB) BOE
Announcement
Announcement
7:45am: (EU) ECB
Announcement
Announcement
8:15am: (EU)
Press Conference following the Announcement
Press Conference following the Announcement
8:15am: (CA) Housing
Starts
Starts
8:30am: (US) Jobless
Claims
Claims
9:30am: (US) Janet
Yellen Speaks
Yellen Speaks
10:30am: (US) Natural
Gas Inventories
Gas Inventories
=========================================================
Day Trading Opportunities for Tomorrow:
Crude Oil:
 |
| Crude Oil Anchor Chart |
Crude Oil has completely changed its trend in the last 24
hours from bearish now to bullish as we go into Wednesday evening and Thursday
morning.
hours from bearish now to bullish as we go into Wednesday evening and Thursday
morning.
We are above all the key moving-averages and we are making
new higher-highs at this time so we are ready to get long at the buy-zone of
100.39 or with any new higher-highs.
new higher-highs at this time so we are ready to get long at the buy-zone of
100.39 or with any new higher-highs.
Our day trading plan for
Crude Oil is to buy pullbacks with each new higher-high overnight and use the price
channel highs and 101.40 as our profit-targets.
Crude Oil is to buy pullbacks with each new higher-high overnight and use the price
channel highs and 101.40 as our profit-targets.
If the buyers happen to fail, we are looking for selling
opportunities back below 99.79 tomorrow morning with a profit-target for the
sellers down at 98.74.
opportunities back below 99.79 tomorrow morning with a profit-target for the
sellers down at 98.74.
Short-Term Trading & Scalping:
Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
=========================================================
Gold:
 |
| Gold Anchor Chart |
Gold tumbled lower today and this evening we find our
favorite ‘yellow metal’ trading at a discounted price (@ Lows) so we are looking
for selling opportunities to go with this down-trend but we’re waiting for the
price to move into the sell-zones overhead or make new lower-lows before we can
start getting short again.
favorite ‘yellow metal’ trading at a discounted price (@ Lows) so we are looking
for selling opportunities to go with this down-trend but we’re waiting for the
price to move into the sell-zones overhead or make new lower-lows before we can
start getting short again.
Our day trading plan on
Gold is to sell short with new lower-lows or at the zones above us at 1293.2,
1297.0, and 1300.8. We have profit-targets
below us at the lows of the price channel, along with 1281.4 and 1272.0.
Gold is to sell short with new lower-lows or at the zones above us at 1293.2,
1297.0, and 1300.8. We have profit-targets
below us at the lows of the price channel, along with 1281.4 and 1272.0.
Short-Term Trading & Scalping:
Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
=========================================================
Mini-Russell :
 |
| Mini Russell Anchor Chart |
Mini-Russell is pushing higher this evening; however, we are
still in a bearish down-trend on the anchor chart so we are going to be looking
for selling opportunities until we can get above the 1112.0 resistance zone
overhead.
still in a bearish down-trend on the anchor chart so we are going to be looking
for selling opportunities until we can get above the 1112.0 resistance zone
overhead.
Our day trading plan for
Mini-Russell is to sell short in the range from 1107.5 up to 1112.0 and use the
support levels below for profit-targets at 1098.0 and 1088.5.
Mini-Russell is to sell short in the range from 1107.5 up to 1112.0 and use the
support levels below for profit-targets at 1098.0 and 1088.5.
Short-Term Trading & Scalping:
Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
=========================================================
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