December 9, 2015
- in Uncategorized by schooloftrade
4 Trading Ranges for Wednesday| Crude Oil, Gold, E-mini & Euro Futures 12/08/15
“The major
reason for setting a goal is for what it makes of you to accomplish it. What it
makes of you will always be the far greater value than what you get.”
reason for setting a goal is for what it makes of you to accomplish it. What it
makes of you will always be the far greater value than what you get.”
Notes for Tonight’s Newsletter:
Crude
Oil is range-bound and sideways
after a volatile session ended smack in the middle of today’s range. We’re expecting the sellers to finish their rotation
back to the lows, which means a failure to push lower will be a BIG buying
opportunity ahead of inventory
news tomorrow. The sellers took
price lower to start the session, but the buyers quickly took back control and
sent price higher, only to collapse back to the middle of this $2 range and
close the day right on top of Monday’s
low price. We tested the highs so we
should see sellers rotate
price down to the lows, and we can see they have tried 3 times
to send this price lower and they don’t appear to be getting anywhere, telling
us a failure to test 36.74 range-lows
will send the pendulum
swinging higher tomorrow.
Oil is range-bound and sideways
after a volatile session ended smack in the middle of today’s range. We’re expecting the sellers to finish their rotation
back to the lows, which means a failure to push lower will be a BIG buying
opportunity ahead of inventory
news tomorrow. The sellers took
price lower to start the session, but the buyers quickly took back control and
sent price higher, only to collapse back to the middle of this $2 range and
close the day right on top of Monday’s
low price. We tested the highs so we
should see sellers rotate
price down to the lows, and we can see they have tried 3 times
to send this price lower and they don’t appear to be getting anywhere, telling
us a failure to test 36.74 range-lows
will send the pendulum
swinging higher tomorrow.
E-mini
S&P is range-bound and sideways
after both sides took turns today, which gives us a clear plan for tomorrow…buying
lows, selling highs using failure patterns and the ‘2-try-rule’. We have most recently tested the range-high,
so we expect to see the sellers try to rotate
back to test the lows. If the sellers
are successful we will then look for a move back up to the highs, but watch for
sellers to fail and the pendulum
will swing up to make a run at last week’s highs around 2092.00 tomorrow.
S&P is range-bound and sideways
after both sides took turns today, which gives us a clear plan for tomorrow…buying
lows, selling highs using failure patterns and the ‘2-try-rule’. We have most recently tested the range-high,
so we expect to see the sellers try to rotate
back to test the lows. If the sellers
are successful we will then look for a move back up to the highs, but watch for
sellers to fail and the pendulum
will swing up to make a run at last week’s highs around 2092.00 tomorrow.
Gold
is range-bound with a possible bull-channel
this evening, which is an important clue because the buyers recently
broke-out of the range going higher, and this will continue if the sellers can’t
re-test the range-lows tomorrow. We can
see buyers and sellers gave us perfect ‘rotation’
from low to high and high to low, but the buyers took it higher with clear
strength, which means the sellers are left to defend this pullback
and if they can’t get this price back to re-test the range-low at 1067.8 we
will most likely see the buyers run this price up to the range-expansion
targets above.
is range-bound with a possible bull-channel
this evening, which is an important clue because the buyers recently
broke-out of the range going higher, and this will continue if the sellers can’t
re-test the range-lows tomorrow. We can
see buyers and sellers gave us perfect ‘rotation’
from low to high and high to low, but the buyers took it higher with clear
strength, which means the sellers are left to defend this pullback
and if they can’t get this price back to re-test the range-low at 1067.8 we
will most likely see the buyers run this price up to the range-expansion
targets above.
Euro
is bullish and rotating
higher off the lows of the bull-channel
and on the way to completing a 3rd-leg
higher in today’s session. We also have a
short-term trading-range
which will give us some great entry areas to catch sellers on the wrong side of
the market. We recently tested the lows
of the bull-channel
which gives us a rotation target back up at the highs. We also tested the highs of the range which
means the sellers will likely attempt the rotation
back to the range-low at 1.0873. The bull
channel tells us direction, the measured-move
(3rd leg higher) tells us targets, and the trading-range
makes for an easy opportunity to confirm bullishness if the sellers fail to
test the lows at 1.0873.
is bullish and rotating
higher off the lows of the bull-channel
and on the way to completing a 3rd-leg
higher in today’s session. We also have a
short-term trading-range
which will give us some great entry areas to catch sellers on the wrong side of
the market. We recently tested the lows
of the bull-channel
which gives us a rotation target back up at the highs. We also tested the highs of the range which
means the sellers will likely attempt the rotation
back to the range-low at 1.0873. The bull
channel tells us direction, the measured-move
(3rd leg higher) tells us targets, and the trading-range
makes for an easy opportunity to confirm bullishness if the sellers fail to
test the lows at 1.0873.
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