January 12, 2016
- in Uncategorized by schooloftrade
Clues in the Candlestick Patterns | Crude Oil, Gold, E-mini & Euro Futures 01/12/16
“To become
financially independent you must turn part of your income into capital; turn
capital into enterprise; turn enterprise into profit; turn profit into
investment; and turn investment into financial independence.”
financially independent you must turn part of your income into capital; turn
capital into enterprise; turn enterprise into profit; turn profit into
investment; and turn investment into financial independence.”
Notes for Tonight’s Newsletter:
Crude
Oil is bearish and rotating higher off the lows of a major bear
channel which tells us to look for selling opportunities after the bulls
test the highs of the channel. Tomorrow we have to trade ‘around’ the
10:30am EST Inventory
News, which is always a variable we cannot control. Sellers have control over this market which
means we will be looking to sell into all buyer-failures
at the highs of the channel and the sell retracements
during the rotation back to the lows.
Oil is bearish and rotating higher off the lows of a major bear
channel which tells us to look for selling opportunities after the bulls
test the highs of the channel. Tomorrow we have to trade ‘around’ the
10:30am EST Inventory
News, which is always a variable we cannot control. Sellers have control over this market which
means we will be looking to sell into all buyer-failures
at the highs of the channel and the sell retracements
during the rotation back to the lows.
E-mini
S&P is bullish as it staggers higher and we have a rotation
target up at the channel highs which tells us to look for opportunities to buy pullbacks
as well as seller-failures
along the way. We seem to have
broken free of yesterday’s trading-range
after buyers tried and failed at the highs but the sellers also tried twice and
failed to test the range-lows at 1900
and look closely at the candles and you can see the bulls take the ‘elevator’
and the bears keeping taking the ‘stairs’
S&P is bullish as it staggers higher and we have a rotation
target up at the channel highs which tells us to look for opportunities to buy pullbacks
as well as seller-failures
along the way. We seem to have
broken free of yesterday’s trading-range
after buyers tried and failed at the highs but the sellers also tried twice and
failed to test the range-lows at 1900
and look closely at the candles and you can see the bulls take the ‘elevator’
and the bears keeping taking the ‘stairs’
Gold
is bearish this evening and rotating
off the highs of a bear channel
which tells us to keep selling retracements
and keep looking for buyers to fail buying pullbacks
with a target at 1078 below. Today started
with a bear spike
& channel which then turned into a triangle,
with a bull breakout
of the triangle which tells us to look for the next push higher to fail for a
reliable ‘short’ down to the range low at 1083.0 and channel low on the way to
the measured-move
long-term bearish target.
is bearish this evening and rotating
off the highs of a bear channel
which tells us to keep selling retracements
and keep looking for buyers to fail buying pullbacks
with a target at 1078 below. Today started
with a bear spike
& channel which then turned into a triangle,
with a bull breakout
of the triangle which tells us to look for the next push higher to fail for a
reliable ‘short’ down to the range low at 1083.0 and channel low on the way to
the measured-move
long-term bearish target.
Euro
is bearish and rotating lower off the highs of the bear channel
but we expect to see buyers try to hold this pullback
which means a failure would be an easy selling opportunity. The Euro is trading on low volume
this week after the tick-change last week and 3
pushes lower in today’s session helps us understand why this recent push
higher occurred almost out of nowhere, and the buyers will have to hold the pullback
if they want any chance at testing some very important resistance overhead at 9200
and 9490
before heading lower to the bear target at 8200
below.
is bearish and rotating lower off the highs of the bear channel
but we expect to see buyers try to hold this pullback
which means a failure would be an easy selling opportunity. The Euro is trading on low volume
this week after the tick-change last week and 3
pushes lower in today’s session helps us understand why this recent push
higher occurred almost out of nowhere, and the buyers will have to hold the pullback
if they want any chance at testing some very important resistance overhead at 9200
and 9490
before heading lower to the bear target at 8200
below.
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