January 5, 2016
- in Uncategorized by schooloftrade
Watch this Rare Pattern | Crude Oil, Gold, E-mini & Euro Futures 01/04/16
“Repetition
is the key to long-term success. Some
people think repetition is boring, while I see repetition as sharpening the
knife of success.”
is the key to long-term success. Some
people think repetition is boring, while I see repetition as sharpening the
knife of success.”
Notes for Tonight’s Newsletter:
Crude
Oil is trading inside a rare and powerful megaphone
pattern which tells us to buy lows and sell highs of the expanding
range tomorrow. The bulls will be
looking for new higher-highs to buy
pullbacks with a target up at the highs.
If we can test the highs around 38.60 we will then expect to see sellers
enter the market for selling opportunities at the highs. The bears will be looking at this as a bear-flag,
which tells us to wait for 3
attempts to push higher and then buyer-failure to sell short back to the
lows, but remember that we want to BUY the
lows if it makes it back down to the lows of the range tomorrow.
Oil is trading inside a rare and powerful megaphone
pattern which tells us to buy lows and sell highs of the expanding
range tomorrow. The bulls will be
looking for new higher-highs to buy
pullbacks with a target up at the highs.
If we can test the highs around 38.60 we will then expect to see sellers
enter the market for selling opportunities at the highs. The bears will be looking at this as a bear-flag,
which tells us to wait for 3
attempts to push higher and then buyer-failure to sell short back to the
lows, but remember that we want to BUY the
lows if it makes it back down to the lows of the range tomorrow.
E-mini
S&P finished the session looking very bullish this afternoon and the
sellers MUST respond to the key resistance
level at 2010.00 if they are going to keep this price moving lower
tomorrow. The bears started the session
with a spike
and channel this morning and we are now testing the base of the bear-channel
which tells us the sellers need to hold this resistance if they want to keep
this price moving lower. The bulls are
showing remarkable strength
as the session finished today with their own bullish
spike & channel, which tells us the next pullback is going to be
critical telling us where we are likely headed next.
S&P finished the session looking very bullish this afternoon and the
sellers MUST respond to the key resistance
level at 2010.00 if they are going to keep this price moving lower
tomorrow. The bears started the session
with a spike
and channel this morning and we are now testing the base of the bear-channel
which tells us the sellers need to hold this resistance if they want to keep
this price moving lower. The bulls are
showing remarkable strength
as the session finished today with their own bullish
spike & channel, which tells us the next pullback is going to be
critical telling us where we are likely headed next.
Gold
is pushing lower this evening after the bulls took price higher in today’s
session, which tells us to look for channel-rotation,
measured-moves,
and a possible gap-fill
tomorrow. The bulls took price higher
today with a perfect measured-move
higher, but then the bulls failed to keep control later in the session and we
clearly now have the bears taking their turn back in the opposite
direction. Bears will be looking for selling
opportunities down to 1064.5 and possibly all the way to fill the weekend gap at
1061.1. The bulls need to see a new higher-high
combined with holding the first pullback
if they want any chance to save this from the low.
is pushing lower this evening after the bulls took price higher in today’s
session, which tells us to look for channel-rotation,
measured-moves,
and a possible gap-fill
tomorrow. The bulls took price higher
today with a perfect measured-move
higher, but then the bulls failed to keep control later in the session and we
clearly now have the bears taking their turn back in the opposite
direction. Bears will be looking for selling
opportunities down to 1064.5 and possibly all the way to fill the weekend gap at
1061.1. The bulls need to see a new higher-high
combined with holding the first pullback
if they want any chance to save this from the low.
Euro
is bearish with a major
channel and a short-term spike
& channel which provides us with plenty of areas to look for selling
opportunities on Tuesday. First, the
bearish spike
& channel tells us to look for selling opportunities after we test the 1.0884
resistance overhead, we will look for the next pullback to fail. Second, the high of the major
bear channel will be an almost ‘too perfect’ area of resistance to sell
overhead, so wait for the buyers to fail on the first pullback. Third, we have the range-high
from today at 1.0967 which is likely going to be tested of the highs of the bear-channel
cannot hold. The ideal scenario is to
sell the highs of the channel
but that looks too easy, so look for a trap
at the highs and sell after they run out the weak sellers!
is bearish with a major
channel and a short-term spike
& channel which provides us with plenty of areas to look for selling
opportunities on Tuesday. First, the
bearish spike
& channel tells us to look for selling opportunities after we test the 1.0884
resistance overhead, we will look for the next pullback to fail. Second, the high of the major
bear channel will be an almost ‘too perfect’ area of resistance to sell
overhead, so wait for the buyers to fail on the first pullback. Third, we have the range-high
from today at 1.0967 which is likely going to be tested of the highs of the bear-channel
cannot hold. The ideal scenario is to
sell the highs of the channel
but that looks too easy, so look for a trap
at the highs and sell after they run out the weak sellers!
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