January 14, 2016
- in Uncategorized by schooloftrade
4 Trades for Thursday | Crude Oil, Gold, E-mini & Euro Futures 01/13/16
“Happiness
is not an accident. Nor is it something you wish for. Happiness is something
you design… it is a state of mind.”
is not an accident. Nor is it something you wish for. Happiness is something
you design… it is a state of mind.”
Notes for Tonight’s Newsletter:
Crude
Oil is bearish after collapsing off the highs of the channel
so our plan is to continue looking for selling opportunities as we attempt to
complete the ‘rotation’
down to the lows tomorrow. We have a
possible bear-flag
working sideways this evening which tells us to look for opportunities to sell
into buyer-failures
as it tests overhead resistance and then selling retracements
with new lower-lows tomorrow, staying away from selling at the lows.
Oil is bearish after collapsing off the highs of the channel
so our plan is to continue looking for selling opportunities as we attempt to
complete the ‘rotation’
down to the lows tomorrow. We have a
possible bear-flag
working sideways this evening which tells us to look for opportunities to sell
into buyer-failures
as it tests overhead resistance and then selling retracements
with new lower-lows tomorrow, staying away from selling at the lows.
E-mini
S&P is bearish this evening with a parabolic
move lower today which ended in a short-term range
so our plan is to fade
all corrections higher until we see the buyers gain some traction tomorrow. We don’t have a lot of technical clues to
work with on today’s chart, just a straight move lower and into a range. This type of strength
will have buyers ‘on the ropes’ and sellers will attack which means we will
look to ‘fade’
all pushes higher and sell retracements with new lower-lows
until the buyers can hold a pullback
and take back control.
S&P is bearish this evening with a parabolic
move lower today which ended in a short-term range
so our plan is to fade
all corrections higher until we see the buyers gain some traction tomorrow. We don’t have a lot of technical clues to
work with on today’s chart, just a straight move lower and into a range. This type of strength
will have buyers ‘on the ropes’ and sellers will attack which means we will
look to ‘fade’
all pushes higher and sell retracements with new lower-lows
until the buyers can hold a pullback
and take back control.
Gold
is bullish this evening but after a spike
& channel broke and re-tested earlier in the session we know the buyers
will need to hold the next pullback
or this price will want to run back to the lows tomorrow. The big picture says this is just a retracement
off this week’s bearish trend, while in the short term we are up at the highs
of a possible bull channel after a bullish spike
& channel already made the test and push higher. This information tells us that smart buyers
will be waiting for a deep pullback
before they buy more, and if that pullback fails we should see a move back to
the 1079.3 lows.
is bullish this evening but after a spike
& channel broke and re-tested earlier in the session we know the buyers
will need to hold the next pullback
or this price will want to run back to the lows tomorrow. The big picture says this is just a retracement
off this week’s bearish trend, while in the short term we are up at the highs
of a possible bull channel after a bullish spike
& channel already made the test and push higher. This information tells us that smart buyers
will be waiting for a deep pullback
before they buy more, and if that pullback fails we should see a move back to
the 1079.3 lows.
Euro
is bullish this evening but today’s move finished at the 50%
retracement of this week’s move down and the final candlestick
leaves us with concerns that this move higher may be over. The big picture tells us this is a test of
the 50% resistance level from this week’s big push lower, while the short term
shows a bull channel
and a trading range with the final candle looking very weak. The channel tells us to expect rotation
to the highs, while the range tells us to wait to buy the lows so we need to
stay patient to see if we can get back to the lows and then look for more
information there.
is bullish this evening but today’s move finished at the 50%
retracement of this week’s move down and the final candlestick
leaves us with concerns that this move higher may be over. The big picture tells us this is a test of
the 50% resistance level from this week’s big push lower, while the short term
shows a bull channel
and a trading range with the final candle looking very weak. The channel tells us to expect rotation
to the highs, while the range tells us to wait to buy the lows so we need to
stay patient to see if we can get back to the lows and then look for more
information there.
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