February 10, 2014
- in Uncategorized by schooloftrade
3 Reasons to Expect BIG MOVES This Week | SchoolOfTrade Newsletter 02/10/14
“I discovered a long time ago that if I helped people get what
they wanted, I would always get what I wanted and I would never have to worry.”
they wanted, I would always get what I wanted and I would never have to worry.”
Reflections from
Today:
Today:
·
Markets
quiet today (6% below avg. volume);
Markets
quiet today (6% below avg. volume);
·
Monday
with no economic news
Monday
with no economic news
·
Monday
after Non-Farm Payroll
Monday
after Non-Farm Payroll
·
Crude
Oil traded 144 ticks; ended flat @ 100.00
Crude
Oil traded 144 ticks; ended flat @ 100.00
·
Gold
went traded 98 ticks; ended flat @ 1274.7
Gold
went traded 98 ticks; ended flat @ 1274.7
·
Mini-Russell
traded 121 ticks; ended higher .27% @ 1116.1
Mini-Russell
traded 121 ticks; ended higher .27% @ 1116.1
·
Feb
10, 1996; Kasparov
loses chess game to a computer!
Feb
10, 1996; Kasparov
loses chess game to a computer!
·
Feb
10, 1990; Nelson
Mandela Released from prison
Feb
10, 1990; Nelson
Mandela Released from prison
·
Feb
10, 1938; “Fannie Mae” is born, our favorite GSE!
Feb
10, 1938; “Fannie Mae” is born, our favorite GSE!
·
Tuesday’s
News; nothing on the calendar, more of the same?
Tuesday’s
News; nothing on the calendar, more of the same?
·
Janet
Yellen makes her debut; speaking in the House Tomorrow
Janet
Yellen makes her debut; speaking in the House Tomorrow
·
Gold
and Crude Oil both pushing higher, “something’s gotta give”
Gold
and Crude Oil both pushing higher, “something’s gotta give”
Economic News for
Tomorrow:
Tomorrow:
 |
| Tuesday’s News |
Tuesday is another day this week without any major economic
news on the calendar, with the exception of Janet Yellen’s debut speaking in
the House for the first time as our new Fed Chairperson.
news on the calendar, with the exception of Janet Yellen’s debut speaking in
the House for the first time as our new Fed Chairperson.
Whenever we have a day without news we always need to patient
at the beginning of the morning to make sure the market-personality is consistent
and that we have a trend that we can follow for the easy profits.
at the beginning of the morning to make sure the market-personality is consistent
and that we have a trend that we can follow for the easy profits.
If tomorrow opens slow and sluggish like Monday’s opening-bell,
we need to remember the CLUES we saw today and stick to our game plan on a day
without any market-personality.
we need to remember the CLUES we saw today and stick to our game plan on a day
without any market-personality.
Day trading plan for
Tomorrow:
Tomorrow:
Crude Oil:
VIP Chart:
 |
| Crude Oil VIP Chart |
Crude Oil traded sideways this morning in a very narrow trading-range
almost exactly on top of the 100.00 big-round-number. The volume profile from today shows us
completely ‘balanced’ right in the middle of the range and exactly at
100.00. This tells us that we don’t have
any directional clues…all we know is that a narrow trading-range like this can’t
keep up forever, so we will be waiting for the breakout tomorrow morning.
I’m buying tomorrow
with an opening-print above 100.55, and selling with the opening-bell below
99.54.
with an opening-print above 100.55, and selling with the opening-bell below
99.54.
Anchor Chart:
 |
| Crude Oil Anchor Chart 34 |
The 34 anchor chart on Crude Oil shows us trading inside a
massive bullish price channel with a major resistance levels overhead at 100.86,
102.18, and 104.70. We can use these levels for profit-targets as we push
higher into the middle of the week.
massive bullish price channel with a major resistance levels overhead at 100.86,
102.18, and 104.70. We can use these levels for profit-targets as we push
higher into the middle of the week.
 |
| Crude Oil Anchor Chart 21 |
The 21 Anchor chart of Crude Oil shows us running into resistance
at 100.41 and 100.60 and we can also see that price-action is trading at the
weekly highs from last week. These clues
tell us that buying HERE isn’t wise, and we will wait to buy on a pullback so
that we can buy at a discount.
at 100.41 and 100.60 and we can also see that price-action is trading at the
weekly highs from last week. These clues
tell us that buying HERE isn’t wise, and we will wait to buy on a pullback so
that we can buy at a discount.
 |
| Crude Oil Anchor Chart 13 |
The 13 Anchor chart shows us the most useful clues this
evening. We can see that price-action moved
above Friday’s highs at 100.41 and then backed-off those highs and finished the
day at the 100.00 big-round-number.
evening. We can see that price-action moved
above Friday’s highs at 100.41 and then backed-off those highs and finished the
day at the 100.00 big-round-number.
My plan is to look for buying
opportunities at the support levels below us around 99.83 and 99.42, however,
if we make it below the 99.27 then I am looking for selling opportunities all
the way back down to the price channel lows around 98.00.
opportunities at the support levels below us around 99.83 and 99.42, however,
if we make it below the 99.27 then I am looking for selling opportunities all
the way back down to the price channel lows around 98.00.
Gold:
VIP Chart:
 |
| Gold VIP Chart |
Gold traded in an incredibly-narrow trading-range on Monday after
we had a big GAP-UP from last Friday’s closing-print at 1262.9. As you can see, we have a HUGE gap that needs
to be filled, which is exactly why we are so excited to go into tomorrow and Wednesday. This narrow trading-range tells us something
BIG is likely on the horizon, so we are getting ready for ANYTHING as this week
develops.
we had a big GAP-UP from last Friday’s closing-print at 1262.9. As you can see, we have a HUGE gap that needs
to be filled, which is exactly why we are so excited to go into tomorrow and Wednesday. This narrow trading-range tells us something
BIG is likely on the horizon, so we are getting ready for ANYTHING as this week
develops.
My plan on Tuesday is
to look for buying opportunities above the 1277.8 with a target up at 1295 and
also look for selling opportunities if we see an opening-print tomorrow morning
below 1272.0 and a profit-target on that at 1262.9 and again at last Friday’s
LOD at 1255.5.
to look for buying opportunities above the 1277.8 with a target up at 1295 and
also look for selling opportunities if we see an opening-print tomorrow morning
below 1272.0 and a profit-target on that at 1262.9 and again at last Friday’s
LOD at 1255.5.
Anchor Chart:
 |
| Gold Anchor Chart 34 |
Just like Crude Oil, Gold is also in a massive bullish price
channel right now and banging its head again the resistance at 1275.2. You can see on the 34 anchor chart of Gold that
we have tried now three (3) times to push above the 1277.0 without any success.
 |
| Gold Anchor Chart 21 |
The 21 Anchor chart of Gold shows us the resistance at 1275.4
that has been spoiling the fun for the buyers.
We can also see easy profit-targets above us at 1281.9 and 1291.4 if we
can happen to break above the resistance and move higher.
that has been spoiling the fun for the buyers.
We can also see easy profit-targets above us at 1281.9 and 1291.4 if we
can happen to break above the resistance and move higher.
 |
| Gold Anchor Chart 13 |
The 13 anchor chart of Gold gives us the most detail this
evening and we will use these support levels below us to look for buying
opportunities because the trend is clearly moving higher. We can see this price wedge (triangle) on the
chart which tells us that SOMETHING big is likely around the corner, however,
we can also see that previous week’s highs at 1274.0 have been spoiling the fun
for the buyers… something must give!
evening and we will use these support levels below us to look for buying
opportunities because the trend is clearly moving higher. We can see this price wedge (triangle) on the
chart which tells us that SOMETHING big is likely around the corner, however,
we can also see that previous week’s highs at 1274.0 have been spoiling the fun
for the buyers… something must give!
My plan for Tuesday is
to look for buying opportunities at 1272.5 and 1269.5 on the way higher to the
1279.6, 1281.9 and 1285.0 profit-target overhead.
to look for buying opportunities at 1272.5 and 1269.5 on the way higher to the
1279.6, 1281.9 and 1285.0 profit-target overhead.
Mini-Russell:
VIP Chart:
 |
| Russell VIP Chart |
The Mini-Russell was the biggest mover of the session on Monday,
which doesn’t say much, but it’s the only market of the three that actually
gave us a closing-print that wasn’t exactly where we started today.
This narrow trading-range
tells me to look for a BIG range tomorrow filled with trading
opportunities. The Closing-print at the
highs of the range tells me the buyers never let go of control, and tomorrow we
will look for the opening-bell above 1116.2 to look for buying opportunities or
below 1104.7 for selling opportunities.
tells me to look for a BIG range tomorrow filled with trading
opportunities. The Closing-print at the
highs of the range tells me the buyers never let go of control, and tomorrow we
will look for the opening-bell above 1116.2 to look for buying opportunities or
below 1104.7 for selling opportunities.
Anchor Chart:
 |
| Russell Anchor Chart 34 |
The 34 anchor chart of the Mini-Russell shows us that we have
definitely made a bottom at the support zone around 1090.6 and now we’re headed
higher up to the next resistance zone at 1129.7 and then again up to 1159.2.
definitely made a bottom at the support zone around 1090.6 and now we’re headed
higher up to the next resistance zone at 1129.7 and then again up to 1159.2.
 |
| Russell Anchor Chart 21 |
The 21 anchor chart of the Mini-Russell we see a new bullish
trend has developed on our way back up to the previous week’s highs at 1131.7
and the sell-zone at 1129.7. Look
closely and you will see that price-action is trading at a premium, so we want
to stay patient to buy this at a discount, or buying on a pullback.
trend has developed on our way back up to the previous week’s highs at 1131.7
and the sell-zone at 1129.7. Look
closely and you will see that price-action is trading at a premium, so we want
to stay patient to buy this at a discount, or buying on a pullback.
 |
| Russell Anchor Chart 13 |
The 13 anchor chart of Mini-Russell looks VERY bullish this evening;
however we have to be patient not to buy this market at these highs. I can see an easy location to buy on a pullback
around 1110.8 and again at 1107.3. Watch
out if we get below that 1106.1 because that will be the last chance for the
buyers to keep control over this price.
however we have to be patient not to buy this market at these highs. I can see an easy location to buy on a pullback
around 1110.8 and again at 1107.3. Watch
out if we get below that 1106.1 because that will be the last chance for the
buyers to keep control over this price.
I will start selling
below 1106.1, but I’m looking to buy at these support zones as well on our way
to the profit-targets at 1118.4, 1122.1, and 1126.9.
below 1106.1, but I’m looking to buy at these support zones as well on our way
to the profit-targets at 1118.4, 1122.1, and 1126.9.
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