August 31, 2015
- in Uncategorized by schooloftrade
Trading Strength and Ranges for Tuesday | Crude Oil, Gold, E-mini & Euro Futures 08/31/15
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“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison.
Notes for Tonight’s Newsletter:
Crude Oil looks strong after today’s short-squeeze, while E-Mini S&P, Euro and Gold are trading inside of easy ranges which spells BIG opportunity for Tuesday… are you ready?
Crude Oil is bullish with a spike and channel pattern that tells us to expect a deep correction off the highs for the best buying opportunities, as well as a BIG buyer-failure selling opportunity back to where this week began!
E-mini S&P is trading sideways inside a range which means we will ‘fade’ each breakout using failure patterns until we see the buyers or sellers successfully hold outside the range with more than 2 attempts.
Gold is range-bound and trading sideways on this last day of the month which means our plan is to sell highs, buy lows, and look for failures of every breakout until we see the buyers or sellers successfully break from of the range and pick a direction.
Euro is trading inside a range which means we our plan is to wait for breakouts and ‘fade’ each breakout until we see 2 tries to push and we can stay outside the range!
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