February 4, 2016
- in Uncategorized by schooloftrade
Non-Farm Payroll Trading Strategy | Crude Oil, Gold, E-mini & Euro Futures 02/04/16
“Live life fully while you’re here. Experience everything. Take
care of yourself and your friends. Have fun, be crazy, be weird. Go out and
screw up! You’re going to anyway, so you might as well enjoy the process. Take
the opportunity to learn from your mistakes: find the cause of your problem and
eliminate it. Don’t try to be perfect; just be an excellent example of being
human.”
care of yourself and your friends. Have fun, be crazy, be weird. Go out and
screw up! You’re going to anyway, so you might as well enjoy the process. Take
the opportunity to learn from your mistakes: find the cause of your problem and
eliminate it. Don’t try to be perfect; just be an excellent example of being
human.”
Notes for Tonight’s Newsletter:
Crude
Oil is range-bound
and trading near the lows this evening and a recent bear-wedge
at the lows tells us to expect price to correct higher in the short-term with a
rotation
target overhead. We have a range-rotation
target overhead at 33.54 and we will give the buyers two attempts to reach that
level. If the buyers fail to reach the
highs of the range, we expect to see the bears attempt to make a measured-move
and most likely test 29.82 before the buyers get another shot at sending this
higher.
Oil is range-bound
and trading near the lows this evening and a recent bear-wedge
at the lows tells us to expect price to correct higher in the short-term with a
rotation
target overhead. We have a range-rotation
target overhead at 33.54 and we will give the buyers two attempts to reach that
level. If the buyers fail to reach the
highs of the range, we expect to see the bears attempt to make a measured-move
and most likely test 29.82 before the buyers get another shot at sending this
higher.
E-mini
S&P is range-bound
with a bull-bias this evening and with a recent test of the highs we can expect
the sellers to push back to the lows where the buyers will be waiting to trap
the sellers and send this price back to the highs. We have yet to attempt a breakout of the
range, which tells us to look for a failure
at both sides, but the bias is bullish so the most reliable opportunity will be
a trap-low
to send it higher. We will be using ‘range
rotation’ tomorrow for the best clues, especially if the rotation fails.
S&P is range-bound
with a bull-bias this evening and with a recent test of the highs we can expect
the sellers to push back to the lows where the buyers will be waiting to trap
the sellers and send this price back to the highs. We have yet to attempt a breakout of the
range, which tells us to look for a failure
at both sides, but the bias is bullish so the most reliable opportunity will be
a trap-low
to send it higher. We will be using ‘range
rotation’ tomorrow for the best clues, especially if the rotation fails.
Gold
is bullish and trading at the highs of the range which tells the bulls to take
profit and wait for a correction
lower before buying more tomorrow at a cheaper price. We have a bull-channel
and a trading range
to work with at this time which tells us to look for buying opportunities
during the rotation back to channel
highs and to look for an opportunity to buy the low of the range after a bear-trap.
is bullish and trading at the highs of the range which tells the bulls to take
profit and wait for a correction
lower before buying more tomorrow at a cheaper price. We have a bull-channel
and a trading range
to work with at this time which tells us to look for buying opportunities
during the rotation back to channel
highs and to look for an opportunity to buy the low of the range after a bear-trap.
Euro
is bullish this evening and rotating
off the lows of a major bull channel
which tells us to keep focused on buying on the way up to completing the move
to channel
highs and the measured-move. This week has been nothing but BULLISH which
tells us we may see a correction lower before this price finishes the move
higher so bulls will stay patient for a ‘trap
low’ around the major support levels listed below, and if price pushes
higher they will be looking for pullbacks
on the way to channel highs and a long-term measured-move
target overhead.
is bullish this evening and rotating
off the lows of a major bull channel
which tells us to keep focused on buying on the way up to completing the move
to channel
highs and the measured-move. This week has been nothing but BULLISH which
tells us we may see a correction lower before this price finishes the move
higher so bulls will stay patient for a ‘trap
low’ around the major support levels listed below, and if price pushes
higher they will be looking for pullbacks
on the way to channel highs and a long-term measured-move
target overhead.
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