February 11, 2014
- in Uncategorized by schooloftrade
Preparing for BIG MOVES in the Futures Markets | SchoolOfTrade Newsletter 02/11/14
“Most people have no idea of the giant capacity we can
immediately command when we focus all of our resources on mastering a single
area of our lives.”
immediately command when we focus all of our resources on mastering a single
area of our lives.”
Reflections from
Today:
Today:
·
Gold Trading: 2 targets hit @ 1285.0 & 1291.4
Gold Trading: 2 targets hit @ 1285.0 & 1291.4
·
Mini-Russell : 3
targets hit @ 1118.4, 1122.1, 1126.9
Mini-Russell : 3
targets hit @ 1118.4, 1122.1, 1126.9
·
Crude Oil: 1 target reached @ 100.41
Crude Oil: 1 target reached @ 100.41
·
Sloppy
markets once again today; No Major News, Janet Yellen Speaks
Sloppy
markets once again today; No Major News, Janet Yellen Speaks
·
Janet Yellen Speaks! Continue Tapering, 6.5% Unemployment rate
target, Very Dovish
Janet Yellen Speaks! Continue Tapering, 6.5% Unemployment rate
target, Very Dovish
·
US
House of Rep passes debt
ceiling extension through Mar ‘15
US
House of Rep passes debt
ceiling extension through Mar ‘15
·
Crude
Oil went higher +0.40% @ 100.41
Crude
Oil went higher +0.40% @ 100.41
·
Gold
went higher +1.25% @ 1290.6
Gold
went higher +1.25% @ 1290.6
·
Mini-Russell
went higher +0.90% @ 1125.1
Mini-Russell
went higher +0.90% @ 1125.1
·
Tonight:
Chinese Trade Balance & Eurozone Industrial Production
Tonight:
Chinese Trade Balance & Eurozone Industrial Production
·
Tomorrow:
Crude Oil Inventories 10:30am EST; API tonight showed 4th
consecutive build (+2.1M)
Tomorrow:
Crude Oil Inventories 10:30am EST; API tonight showed 4th
consecutive build (+2.1M)
·
Tomorrow; Treasury budget @ 2:00pm EST
Tomorrow; Treasury budget @ 2:00pm EST
·
Feb 11th 1847; Thomas Alva Edison was born (invented
the ticker tape, phonograph, light bulb, motion picture)
Feb 11th 1847; Thomas Alva Edison was born (invented
the ticker tape, phonograph, light bulb, motion picture)
·
Feb 11th 1956; Korean
Stock Exchange is born!
Feb 11th 1956; Korean
Stock Exchange is born!
Economic News for
Tomorrow:
Tomorrow:
We finally get some big news to trade with starting overnight
this evening and heading into tomorrow morning’s trading session.
this evening and heading into tomorrow morning’s trading session.
We begin this evening with important news from China at
3:15am EST, Consumer Price Index, which is certain to get Gold and other
markets moving in the overnight Asian-session.
3:15am EST, Consumer Price Index, which is certain to get Gold and other
markets moving in the overnight Asian-session.
After we hear from China we move to Europe where we have a
very important Industrial Product report due to be released at 5:00am EST. Just like the news from China, this news is
also expected to have the markets moving well going into the US morning
session.
very important Industrial Product report due to be released at 5:00am EST. Just like the news from China, this news is
also expected to have the markets moving well going into the US morning
session.
Tomorrow in the US session we have Crude Oil Inventories to
work with at 10:30am EST, which means we must be careful forcing trades
tomorrow on Crude Oil if we don’t see the market-personality giving us any
movement ahead of the news.
work with at 10:30am EST, which means we must be careful forcing trades
tomorrow on Crude Oil if we don’t see the market-personality giving us any
movement ahead of the news.
Remember to sit-on-hands
tomorrow 15-minutes before and after this news is released so you don’t get caught
up in the messy price-action that usually shows up before the news is released.
tomorrow 15-minutes before and after this news is released so you don’t get caught
up in the messy price-action that usually shows up before the news is released.
 |
| Wednesday Economic News |
3:15am EST: (CH)
Consumer
Price Index
Consumer
Price Index
5:00am EST: (EUR)
Industrial
Production
Industrial
Production
10:30am EST: (US) Crude
Oil Inventories
Oil Inventories
2:00pm EST: (US)
Treasury
Budget
Treasury
Budget
Day trading plan for
Tomorrow:
Tomorrow:
Crude Oil:
VIP Chart:
 |
| Crude Oil VIP Chart |
The VIP Chart of Crude Oil shows another session of sideways
trading because it wasn’t until after the closing-bell that Crude Oil started
to push higher up to our target at 100.41 from last night.
trading because it wasn’t until after the closing-bell that Crude Oil started
to push higher up to our target at 100.41 from last night.
This narrow trading-range,
closing-print in the middle, and sitting on top of the previous week’s highs
all tell me that something BIG is on the way for Crude Oil traders!
closing-print in the middle, and sitting on top of the previous week’s highs
all tell me that something BIG is on the way for Crude Oil traders!
Anchor Chart:
 |
| Crude Oil Anchor Chart |
Crude Oil looks mighty bullish on this evening’s anchor
chart. We are above the previous week’s
highs in the overnight trading session and with Red-Star News to be released in
China in just a few hours we may have a big move on our hands before we even
wake up in the US on Wednesday.
chart. We are above the previous week’s
highs in the overnight trading session and with Red-Star News to be released in
China in just a few hours we may have a big move on our hands before we even
wake up in the US on Wednesday.
My plan is to buy the support
zone at 100.10 or 99.81 this evening and into tomorrow with a profit-target up
at the overhead resistance levels at 100.65, 100.90 and 101.06.
In addition, I’m selling short if these levels FAIL below the 99.60 support
with a profit-target below us at 99.11.
zone at 100.10 or 99.81 this evening and into tomorrow with a profit-target up
at the overhead resistance levels at 100.65, 100.90 and 101.06.
In addition, I’m selling short if these levels FAIL below the 99.60 support
with a profit-target below us at 99.11.
Gold:
VIP Chart:
 |
| Gold VIP Chart |
Gold traded in a VERY wide range in today’s session after it ‘gapped
up’ in the overnight session. We see a
wide trading-range, a closing-print near the highs, and bullish 2-day
relationship, but the biggest clues we
see are the two volume spikes around 1286.5 and 1279.0.
up’ in the overnight session. We see a
wide trading-range, a closing-print near the highs, and bullish 2-day
relationship, but the biggest clues we
see are the two volume spikes around 1286.5 and 1279.0.
Anchor Chart:
 |
| Gold Anchor Chart |
Gold is trending higher this evening on the anchor chart on
its way to the big-round-number of 1300.
We have some important news coming out overnight in China which could
easily push us into this 1300 area so we are on red-alert this evening for buying
opportunities.
its way to the big-round-number of 1300.
We have some important news coming out overnight in China which could
easily push us into this 1300 area so we are on red-alert this evening for buying
opportunities.
My plan for Gold is to
buy the support zone below us at 1285.2 and 1279.9 and use the overhead resistance
levels as profit-targets at 1295.4, 1297.4, and 1299.8. If we get below the 1278.0 I will then move
to selling short down to 1274.5.
buy the support zone below us at 1285.2 and 1279.9 and use the overhead resistance
levels as profit-targets at 1295.4, 1297.4, and 1299.8. If we get below the 1278.0 I will then move
to selling short down to 1274.5.
Mini-Russell:
VIP Chart:
 |
| Mini Russell VIP Chart |
The Mini-Russell pushed higher today and finished the session
up around the previous highs from last week at 1127.7. Today we saw a bullish 2-day relationship, a
typical trading-range, and a closing-print near the highs.
up around the previous highs from last week at 1127.7. Today we saw a bullish 2-day relationship, a
typical trading-range, and a closing-print near the highs.
These clues tell me
that we are bullish on Mini-Russell and if we can get above the previous week’s
highs of 1127.7 and an opening-print tomorrow above the 1128.9 we are going to
be buying on Wednesday up to the 1144.0 highs from 2 weeks ago.
that we are bullish on Mini-Russell and if we can get above the previous week’s
highs of 1127.7 and an opening-print tomorrow above the 1128.9 we are going to
be buying on Wednesday up to the 1144.0 highs from 2 weeks ago.
Anchor Chart:
 |
| Mini Russell Anchor Chart |
The anchor chart of the Mini-Russell is VERY bullish going into
the overnight session, which has us looking for more buying opportunities going
into Wednesday.
the overnight session, which has us looking for more buying opportunities going
into Wednesday.
My goal this evening is
to buy the support zones at 1121.4 and 1117.0 on the way up to the profit-targets
above us at 1131.3, 1136.0 and 1142.1.
If we get below the 1115.5 the sellers will take control and I’m selling
short down to a profit-target at 1105.0
to buy the support zones at 1121.4 and 1117.0 on the way up to the profit-targets
above us at 1131.3, 1136.0 and 1142.1.
If we get below the 1115.5 the sellers will take control and I’m selling
short down to a profit-target at 1105.0
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