December 4, 2015
- in Uncategorized by schooloftrade
8 Trades for Non-Farm Friday| Crude Oil, Gold, E-mini & Euro Futures 12/03/15
If you are
not willing to risk the unusual, you will have to settle for the ordinary.
not willing to risk the unusual, you will have to settle for the ordinary.
Notes for Tonight’s Newsletter:
Tomorrow
we have 2 major news events; the monthly non-farm
payroll report, which is being anticipated as the last report the Fed will
use to justify raising rates this year, and the OPEC
meeting in Vienna which will give oil traders much-needed clues ahead of
possible production cuts in an attempt to curb falling prices we’ve seen this
year.
we have 2 major news events; the monthly non-farm
payroll report, which is being anticipated as the last report the Fed will
use to justify raising rates this year, and the OPEC
meeting in Vienna which will give oil traders much-needed clues ahead of
possible production cuts in an attempt to curb falling prices we’ve seen this
year.
This
major news will give us extreme volatility, which poses
excessive risk to our trade accounts, so the plan for tomorrow is to trade
around the news events, and if price starts to move aggressively in one
direction we need to identify that and follow that direction.
major news will give us extreme volatility, which poses
excessive risk to our trade accounts, so the plan for tomorrow is to trade
around the news events, and if price starts to move aggressively in one
direction we need to identify that and follow that direction.
Crude
Oil is bullish ahead of Friday’s OPEC
meeting; we have a wide bull-channel
and a bull-flag
all telling us to stick to buying until we see proof otherwise, and we have a
well-defined plan of attack. We see the
most reliable buying opportunities at the lows of the bull-channel,
and the bull-flag
tells us the safest way to buy will be after sellers fail at the short-term
channel-high. The bears need to be very
patient tomorrow, waiting for buyers
to fail at channel-lows, and then for the sellers to hold the next
retracement in order to have confidence to the downside.
Oil is bullish ahead of Friday’s OPEC
meeting; we have a wide bull-channel
and a bull-flag
all telling us to stick to buying until we see proof otherwise, and we have a
well-defined plan of attack. We see the
most reliable buying opportunities at the lows of the bull-channel,
and the bull-flag
tells us the safest way to buy will be after sellers fail at the short-term
channel-high. The bears need to be very
patient tomorrow, waiting for buyers
to fail at channel-lows, and then for the sellers to hold the next
retracement in order to have confidence to the downside.
E-mini
S&P is bearish after today’s collapse, 3 legs
lower this week tells us the sellers will likely need to take profit, so we will be
watching the buyers closely for PROOF
before we do anything tomorrow. We know
the bears have the control right now, and there will be profit-taking
after such a big move down this week, but we can’t buy anything until we see
the buyers hold a pullback,
and wise sellers will be watching closely to sell into their ‘stops’
if they can’t hold it higher.
S&P is bearish after today’s collapse, 3 legs
lower this week tells us the sellers will likely need to take profit, so we will be
watching the buyers closely for PROOF
before we do anything tomorrow. We know
the bears have the control right now, and there will be profit-taking
after such a big move down this week, but we can’t buy anything until we see
the buyers hold a pullback,
and wise sellers will be watching closely to sell into their ‘stops’
if they can’t hold it higher.
Gold
is rotating higher inside a bull-channel
this evening which means we will focus on completion of the measured-move
and channel-rotation using pullbacks
and seller-failures
tomorrow. The key is to ‘buy
low’ tomorrow, waiting for pullbacks
after new higher-highs
or retracement-failures after a deep correction. Watch the trading-range
for range-rotation
if we see the bears successfully pull this back to the range-low at 1054.0.
is rotating higher inside a bull-channel
this evening which means we will focus on completion of the measured-move
and channel-rotation using pullbacks
and seller-failures
tomorrow. The key is to ‘buy
low’ tomorrow, waiting for pullbacks
after new higher-highs
or retracement-failures after a deep correction. Watch the trading-range
for range-rotation
if we see the bears successfully pull this back to the range-low at 1054.0.
Euro
is bullish with 3
pushes higher today, which tells us to expect a profit-taking correction
off the highs, so our plan is to wait for the pullback
and then look to see WHO takes control from there. We can assume the buyers need to re-load the
weapons again, so we expect to see a trading-range
tomorrow with a bull-bias. The bulls will
want to wait for the pullback,
then watch sellers fail to hold the next retracement
and buy into their stops. Bears need to
see price break-down and hold the next retracement
before thinking about selling these highs.
is bullish with 3
pushes higher today, which tells us to expect a profit-taking correction
off the highs, so our plan is to wait for the pullback
and then look to see WHO takes control from there. We can assume the buyers need to re-load the
weapons again, so we expect to see a trading-range
tomorrow with a bull-bias. The bulls will
want to wait for the pullback,
then watch sellers fail to hold the next retracement
and buy into their stops. Bears need to
see price break-down and hold the next retracement
before thinking about selling these highs.
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