December 1, 2015
- in Uncategorized by schooloftrade
5 Trades for Tuesday | Crude Oil, Gold, E-mini & Euro Futures 11/30/15
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Genius is
one percent inspiration and ninety-nine percent perspiration. – Thomas A.
Edison
one percent inspiration and ninety-nine percent perspiration. – Thomas A.
Edison
Notes for Tonight’s Newsletter:
Crude
Oil is bearish with a spike
& channel, so the best trade tomorrow will be waiting for
buyer-failures after a push higher. We
are at the lows of the trading-range
from today, which tells us buyers will try to rotate this price higher, but the
bearish spike
& channel reminds us to look for them to fail the rotation
and sell it back to the range-lows
and possibly lower tomorrow.
Oil is bearish with a spike
& channel, so the best trade tomorrow will be waiting for
buyer-failures after a push higher. We
are at the lows of the trading-range
from today, which tells us buyers will try to rotate this price higher, but the
bearish spike
& channel reminds us to look for them to fail the rotation
and sell it back to the range-lows
and possibly lower tomorrow.
E-mini
S&P is bearish after buyers tried and failed, and the spike
& channel that finished the day tells us to look for buyer-failures
after a bullish correction tomorrow morning.
Look left and you can see we are at the lows of a multi-day range so we
CAN’T sell here, we need to wait for buyers to run this higher and then look
for them to fail back lower.
S&P is bearish after buyers tried and failed, and the spike
& channel that finished the day tells us to look for buyer-failures
after a bullish correction tomorrow morning.
Look left and you can see we are at the lows of a multi-day range so we
CAN’T sell here, we need to wait for buyers to run this higher and then look
for them to fail back lower.
Gold
is suffering from an identity-crisis this evening after rolling
forward to the 02-16 contract, but today’s move higher looks quite fragile
so we will look for selling opportunities if we get buyers to fail. I see this move over the holiday as a ‘market
mistake’ that was quickly corrected by the bulls after rollover, but now
they need to hold this channel-low
or price goes back to where it came from.
Wise traders will be VERY careful until you see another day’s worth of candles.
is suffering from an identity-crisis this evening after rolling
forward to the 02-16 contract, but today’s move higher looks quite fragile
so we will look for selling opportunities if we get buyers to fail. I see this move over the holiday as a ‘market
mistake’ that was quickly corrected by the bulls after rollover, but now
they need to hold this channel-low
or price goes back to where it came from.
Wise traders will be VERY careful until you see another day’s worth of candles.
Euro
is range-bound
with a bearish bias after today’s ‘descending
triangle’ kept giving us lower-highs.
The most reliable trades will be selling up around the range highs. I like to use buyer-failures
to sell the highs so stay patient for buyers to send this higher, then wait for
the pullback to fail and sell it back to the lows. if it goes lower you can NOT sell
the lows you need to wait for price to rise higher if you want to sell!
is range-bound
with a bearish bias after today’s ‘descending
triangle’ kept giving us lower-highs.
The most reliable trades will be selling up around the range highs. I like to use buyer-failures
to sell the highs so stay patient for buyers to send this higher, then wait for
the pullback to fail and sell it back to the lows. if it goes lower you can NOT sell
the lows you need to wait for price to rise higher if you want to sell!
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