August 30, 2011
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Price Magnets make great profit targets, beware entries
Price Increase 5-10% Sept 1, 2011 End of Month discount Sales@SchoolOfTrade.com Price Magnets: Are very common levels of support and resistance that results in price ‘gravitating’ towards them. Often, these price magnets are very easy to use a profit target, but they make very high risk entries for trades. You can easily give back any […]
Continue reading August 30, 2011
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Crude Oil fails, Gold stable at big round numbers as traders prep for Consumer Confidence Numbers
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— – Crude Oil still trading below 90.00 on fears of too much supply and not enough demand – Seasonal impact on Gold Futures may be another thing to watch as people take profit – S&P lowered its 2011 and 2012 GDP outlook for the Euro […]
Continue reading August 29, 2011
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Follow our trade plan; Price Wedge helps us hit out daily goal day trading Gold Futures
Price Increase Scheduled for Sept 1, 2011 800am est Gold Futures are trading in a price wedge this morning on our 89range chart. – Price Wedge – Bull Channel – Sideways Range Our 89range chart shows us the major support levels below us, and gives us easy profit targets if price is to keep rising. […]
Continue reading August 29, 2011
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Trade the News Market Internals Update at 12:00ET
Dow +158 S&P +19 NASDAQ +49 ***Economic Data*** – (GE) Germany Aug Preliminary Consumer Price Index M/M: -0.1% v -0.1%e; Y/Y: 2.3% v 2.3%e – (GE) Germany Aug Preliminary CPI EU Harmonized M/M: -0.1% v 0.1%e; Y/Y: 2.4% v 2.5%e – (US) July Personal Income: 0.3% v 0.3%e; Personal Spending: 0.8% v 0.5%e – (US) […]
Continue reading August 29, 2011
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Fibonacci retracements & extensions are worthless if you use them like this
Range Charts: – Every candlestick has a specific amount of RANGE (in ticks) – 4-range chart has candles with 4 ticks of trading range inside the candle. – When it breaks to 5 ticks of range it then creates a new candle. – Time is not a variable – Volume, or tick size is not […]
Continue reading August 29, 2011
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Price Wedges make easy trading opportunity for Patient Traders
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— Today’s Economic News: Looking at the news this morning, this is the final week of the Summer, leading into the Labor Day Holiday ahead of us this coming weekend. Like most of the summer, we need to simply stay patient in the first few hours […]
Continue reading August 26, 2011
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Wait for High Percentage Trades on Summer Friday’s
800am est Crude Oil Futures are trading off the lows and off the highs of the 89range chart price structure. We see a bull channel, price wedge, and a sideways range. Price wedge tells me to buy the lows and sell the highs. Bull channel tells me to buy at major support and to buy […]
Continue reading August 26, 2011
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Bernanke’s Speech to Central Bankers at Jackson Hole: Full Text
The following is a text of Federal Reserve Chairman Ben S. Bernanke’s remarks to central bankers gathered at a conference in Jackson Hole, Wyoming: Good morning. As always, thanks are due to the Federal Reserve Bank of Kansas City for organizing this conference. This year’s topic, long-term economic growth, is indeed pertinent–as has so often […]
Continue reading August 26, 2011
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The Best Strategy for a Beginner Day Trader
Beginner Day Trading Strategies: An experienced trader can FEEL the market. A new trader cannot FEEL the market. An experienced trader can use his/her EXPERIENCE to anticipate problems before they happen. A new trader does not have the experience yet. This is why we need to use a tailored approach to new/beginner traders. – Keep […]
Continue reading August 26, 2011
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Trade the News Market Internals Update at 12:00ET
Dow +24 S&P +6 NASDAQ +34 ***Economic Data*** – (BR) Brazil July Central Gov’t Budget (BRL): 11.2B v 10.5B prior – (BR) Brazil Aug FGV Construction Costs M/M: 0.2% v 0.3%e – (US) Q2 Preliminary GDP Q/Q Annualized: 1.0% v 1.1%e; Personal Consumption: 0.4% v 0.2%e – (US) Q2 Preliminary GDP Price Index: 2.4% v […]
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