November 6, 2015
- in Uncategorized by schooloftrade
My Plan for Non-Farm Friday | Crude Oil, Gold, E-mini & Euro Futures 11/05/15
“Be patient with yourself. Self-growth is tender; it’s holy
ground. There’s no greater investment.”
ground. There’s no greater investment.”
Notes for Tonight’s Newsletter:
Tomorrow is Non-Farm-Friday,
so our plan is to trade around the news, then look for sustained direction
afterwards. We have a plan for
tomorrow’s news, so stay tuned!
so our plan is to trade around the news, then look for sustained direction
afterwards. We have a plan for
tomorrow’s news, so stay tuned!
Crude
Oil is bearish this evening with an ‘overshoot’
of the channel lows so our plan is to sell short after a bullish correction and
buyer-failure
after the news is released tomorrow morning.
Buyers can look for an easy ‘trap’
at 45.57 on the way up to the potential overshoot target
around $46.00, and sellers want to stay patient to see those buyers fail after
the correction.
Oil is bearish this evening with an ‘overshoot’
of the channel lows so our plan is to sell short after a bullish correction and
buyer-failure
after the news is released tomorrow morning.
Buyers can look for an easy ‘trap’
at 45.57 on the way up to the potential overshoot target
around $46.00, and sellers want to stay patient to see those buyers fail after
the correction.
E-mini
S&P is trading into the termination of a wedge
this evening which means aggressive traders will look to fade
the highs and lows while conservative traders will trade the pullback
in the direction of the breakout. The
key to our success tomorrow will be trade around the news, wait for the breakout,
then look for PROOF after the pullback and go in the direction of the breakout
using the targets
above and below.
S&P is trading into the termination of a wedge
this evening which means aggressive traders will look to fade
the highs and lows while conservative traders will trade the pullback
in the direction of the breakout. The
key to our success tomorrow will be trade around the news, wait for the breakout,
then look for PROOF after the pullback and go in the direction of the breakout
using the targets
above and below.
Gold
continues to tumble lower this evening which means we will continue to look for
opportunities to sell after bullish corrections
up off the lows. The short-term range
we found today will make for a great area to look for buyers to try and reverse
the trend tomorrow, and we will be waiting for them to fail for the best
selling opportunities after tomorrow’s news.
continues to tumble lower this evening which means we will continue to look for
opportunities to sell after bullish corrections
up off the lows. The short-term range
we found today will make for a great area to look for buyers to try and reverse
the trend tomorrow, and we will be waiting for them to fail for the best
selling opportunities after tomorrow’s news.
Euro
is range-bound
and slightly bullish
heading into tomorrow’s big news event which means we will be looking for
opportunities to buy
support levels below us using seller
failure patterns. today’s low-of-day
at 1.0839 would be an ideal place to buy after a bear-trap
at the lows, and yesterday’s high at 1.0974 will make for an exciting target if
this market reacts well to the news.
is range-bound
and slightly bullish
heading into tomorrow’s big news event which means we will be looking for
opportunities to buy
support levels below us using seller
failure patterns. today’s low-of-day
at 1.0839 would be an ideal place to buy after a bear-trap
at the lows, and yesterday’s high at 1.0974 will make for an exciting target if
this market reacts well to the news.
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