June 13, 2016
- in Uncategorized by schooloftrade
Trading with Ranges Tuesday | Crude Oil, Gold, E-mini & Euro Futures 06/13/16
“Courage is not the absence of fear, but rather the judgment that something else is more important than fear.”
Notes for Tonight’s Newsletter:
We have some incredible opportunities going into this third week of the month; Crude Oil & E-mini S&P are range-bound while Gold & Euro are bullish going into Tuesday’s trading session.
Crude Oil is range-bound with a slight bullish tone this evening as price finished the session back inside the original range that began today’s session and a possible low of a major bull channel which tells the bulls to look for seller-failures below the range and breakout-pullbacks above the resistance trend-line overhead.
E-mini S&P is range-bound with a short-term bull bias this evening after price tested the 200% range-expansion support and the lows of a bear channel which tells the buyers to look for seller-failures going back to the original range tomorrow as the most reliable trading opportunity.
Gold is bullish and trying to re-test the highs but a resistance trend-line is in the way, which tells the buyers to look for a breakout-pullback to new highs or wait for a ‘trap-low’ so they don’t get caught buying into resistance.
Euro is bullish and trying to finish a ‘double-up’ from the beginning of today’s session and pending spike & channel tells the buyers to avoid buying the highs and be looking for opportunities at the lows of the channel for the most reliable opportunities tomorrow.
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