Weekly Market Update: Solid Economic Gains tell Traders to be Ready for Tapering

- After data released this week, it is more than likely the Fed will taper QE spending at the Dec 17-18 or the Jan 28-29 meetings.

The highlights of the week were the second reading of US Q3 GDP and the November jobs report. The GDP numbers were good and the jobs figures were very good, and taken with the already unambiguously positive housing data, it's hard not to see that the US economy is seeing substantial improvement.

Day Trading Morning Prep 12/06/13; SchoolOfTrade.com

7:30am EST

Focus-Points this morning:

·       Traders around the world focus on the US Non-Farm Payroll Employment Report today 8:30am EST

·       Price-action is mixed ahead of US news

·       Traders debate over the potential of a Fed Taper in December if news is bullish for the USD

·      

GOMI Metro Updated Indicator Package; SchoolOfTrade com

Today we take a look at the new update to the GOMI indicator package that is a massive graphic overhaul!

KEITH'S MACRO NOTEBOOK 12/5: JAPAN, EURO, UST 10YR

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Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil is currently pushing higher but has now run into the wedge highs above and is starting to reject lower. I am looking to short this market down to 97.02 first and further down towards 96.51 as well as even further down to the wedge lows below that. If we really catch some legs to the downside I will also be targeting the BMT sitting down at 94.86.

Come join us in the room and see how we do it!

Automated Trading Strategy Review - Crude Oil Futures

Crude Auto Trader

Crude Oil is by far one of our favorite markets to trade on both discretionary as well as Automated like with the FLEX and TREND Auto Traders. This past week may have been slow but it is a perfect example of why we love Crude Oil so much! It is deadly accurate when it takes trades and can quickly rack up the profit with an average of 2:1 reward vs. risk!

Come join us in the room and see how we do it!

Day Trading Morning Prep 12/05/13; SchoolOfTrade.com

7:30am EST

Focus-Points this morning:

·       Traders prepare ahead of major news today and tomorrow from the US and ECB

·       In the US we have Friday’s Non-Farm Payroll News @ 830am EST

·       In the EU today is the Rate Decision for the ECB and BOE

·       Crude Oil trading at 5-week highs around 97.50 after inventories fell on Wednesday

·       Gold tumbles on speculation the Fed will Taper

·       Global Equities trading flat this morning, no change from Wednesday

·      

Market Structure Tutorial; SchoolOfTrade com

Today we take a look into the different types of Market Structure and how we can go about trading them in the most efficient way.

Supply and Demand Zone Trading Crude Oil Futures; SchoolOfTrade com

Today we see Crude Oil reject out of a supply zone earlier in the morning and respect that move for a good portion of the rest of the morning.

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil is currently expanding the wedge highs and continues to push higher. I am looking to take this market higher up to 97.64 first at the previous swing high as well as higher to the above supply zones between 97.89-98 and 98.23-98.43. There is a larger supply zone above that but we are a ways away from that area. We do also have the larger wedge high above us that we will need to break before going higher.

Come join us in the room and see how we do it!

Automated Trading Strategy Review - Natural Gas Futures

Nat Gas Auto Trader

Natural Gas is one of our favorite markets to trade on the TREND Auto Trader because it just keeps hitting out of the park over and over again! It may not be the most active market in the world but when it moves it moves fast and usually into our profit targets. This past week is a great example of this as we bring in a nice and solid $220 even with the holiday week slowing us down.

Come join us in the room and see how we do it!

Day Trading Morning Prep 12/04/13; SchoolOfTrade.com

7:30am EST

Focus-Points this morning:

·       Gold moving lower on bets the Fed will Taper earlier than expected

·       Crude Oil Futures rise on fears of US supply

·       European news disappoints, highlights ‘bumpy’ recovery in the EU

·       European equities struggle to rebound after 2 days of losses

·       Oil Ministers to attend OPEC meeting today in Vienna

·       Saudi Oil Minister says ‘oil market is in a good place for buyers and sellers’

·       Traders focused on the US ADP Employment Data at 8:15am EST today

·       Economic Calendar has three (3) Red-Star news events today

Doji Reversal Candlestick Pattern; SchoolOfTrade com

Today we take a look at one of our all time favorite candlestick patterns, the Doji Reversal pattern!

Russell BMT Selling With A Golden Wave Pattern; SchoolOfTrade com

This morning we see the Russell bouncing out of a supply zone that is just tagged after going through the BMT.

Focus on the Consumer and the Fed

Today's Video gives excellent insight into how traders are preparing for Friday's Non Farm Payroll Employment Report.

Traders are buzzing over Monday's bullish news for the US Dollar, but what are they expecting for Friday's numbers and how will that affect us today?