September 23, 2013
- in Uncategorized by schooloftrade
Crude Oil Day trading strategy; Morning Prep Screen to Floor 09/23/13
7:30am EST
Focus-Points this morning:
· Traders Return to their desks this morning
after the Quadruple Witching ‘traders holiday’ last week.
after the Quadruple Witching ‘traders holiday’ last week.
· China’s September PMI readings
continue to impress analysts, and suggest the economic expansion will continue into
the end of 2013
continue to impress analysts, and suggest the economic expansion will continue into
the end of 2013
· The debate over Fed-Tapering
continues; silver Futures move sharply lower today.
continues; silver Futures move sharply lower today.
· Monday is filled with Speakers from
the Fed in the US with only minor economic news on the calendar.
the Fed in the US with only minor economic news on the calendar.
· Contract Rollover Alert; All Futures markets
have rolled forward to the next front-month contract except for the Mini-Russell.
have rolled forward to the next front-month contract except for the Mini-Russell.
o
Crude
Oil = 10-13 (will rollover later today most likely to 11-13)
Crude
Oil = 10-13 (will rollover later today most likely to 11-13)
o
Euro
= 12-13
Euro
= 12-13
o
Gold
= 12-13
Gold
= 12-13
o
Mini-Russell
= 09-13 (will move to the 12-13 next)
Mini-Russell
= 09-13 (will move to the 12-13 next)
 |
| Contract Rollover |
Economic News on the schedule today:
·
8:58am EST PMI
Manufacturing Index
8:58am EST PMI
Manufacturing Index
·
9:20am
EST Dennis
Lockhart Speaks
9:20am
EST Dennis
Lockhart Speaks
·
9:30am
EST William
Dudley Speaks
9:30am
EST William
Dudley Speaks
·
1:30pm
EST Richard
Fisher Speaks
1:30pm
EST Richard
Fisher Speaks
Crude Oil Analysis:
Anchor Chart:
 |
| Crude Oil Anchor 1 |
We can see the long-term trend is down on the 5400-tick
anchor chart we review this morning.
Furthermore, we can see a fresh new wave-count begins with the new lower-lows,
telling us that a short trade set-up is on the way later in the session today
or tomorrow.
 |
| Crude Oil Anchor 2 |
Our 1800-tick anchor chart shows us trading to new lower-lows
this morning with 2 important sell-zones overhead at 106.66 and 107.99 where we
will look for the high-percentage-trades to the short side today and
tomorrow. This chart shows us that we
have plenty of room for a counter-trend trade this morning as we move off the
lows of this price-channel towards the sell-zone at 106.66.
this morning with 2 important sell-zones overhead at 106.66 and 107.99 where we
will look for the high-percentage-trades to the short side today and
tomorrow. This chart shows us that we
have plenty of room for a counter-trend trade this morning as we move off the
lows of this price-channel towards the sell-zone at 106.66.
