Thursday, February 4, 2016

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.”

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. 

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.

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

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.



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Trading The Strength Of The Crude Oil Futures Market Higher; SchoolOfTrade.com



Off the move lower we had a HUGE rip up showing massive buyer strength in the move for 134 ticks this morning!

In today's video we see Crude Oil Futures slamming the sellers out of the market on massive strength higher.

This gave us an opportunity to buy the strength move up for $1,340 on only 3 contracts!

E-Mini Dow Futures Day Trading Strategy Review - Buying the wedge breakout on strength

Dow 800V
The Dow was a bit range-bound today forming a wedge in the middle of it all.

This gave an attempt at the highs after the FBL for a breakout move up on strength.

Overall this gave a move up for 10, 37, and 61 ticks to major MM targets above!

Make sure you sign up for our trial to the Live Trade Room so you don't miss this trade! You will be able to follow along with us as we take it LIVE in the room!

Gold Futures Day Trading Strategy Review - Buying 2CT 2L

Gold 512V
Gold had a gorgeous run up with bull support tracking price the whole way up.

This gave a bounce off channel lows for the 2CT push right back up on a 2L.

Overall this gave a move up for 10, 16, and 66 ticks to channel high targets!

Make sure you sign up for our trial to the Live Trade Room so you don't miss this trade! You will be able to follow along with us as we take it LIVE in the room!

Crude Oil Futures Day Trading Strategy Review - Selling the channel high 1CT

Crude 1000V
Crude Oil had a huge run up off the lows which led into a weak bear channel working lower.

This gave a test of channel highs forming the 1CT for sellers to take price right back down again.

Overall this gave a move lower for 10, 21, and 30 ticks to swing targets below!

Make sure you sign up for our trial to the Live Trade Room so you don't miss this trade! You will be able to follow along with us as we take it LIVE in the room!

Euro Currency Futures Day Trading Strategy Review - Selling the 2S Wedge Breakout Failure

Euro 1597V
The Euro had a great run up but ended with a profit taking rally lower into a wedge formation.

This Wedge Pattern broke higher at first looking VERY bullish but the sellers quickly shut the move down on the 2S.

Overall this gave a move lower for 10, 18, and 51 ticks back to the low side targets!

Make sure you sign up for our trial to the Live Trade Room so you don't miss this trade! You will be able to follow along with us as we take it LIVE in the room!

Wednesday, February 3, 2016

Avoid these Traps | Crude Oil, Gold, E-mini & Euro Futures 02/03/16



“The meeting of preparation and opportunity generates the offspring we call luck.”

Notes for Tonight’s Newsletter:
Crude Oil is bullish but after a huge move higher on today's news we see the market as very expensive at the highs of the channel and a completed measured-move which tells us to wait for a bearish correction for a cheaper price to buy.  Today's inventory report sent prices higher this morning with a bull wedge that broke, re-tested and finished with a micro spike & channel which shows extreme strength for the buyers, but if you zoom out and look left you can see this is a very interesting area that has been tested before, which tells us there was a purpose to the move today and buyers will want to wait for a deep correction before buying more.  Sellers are looking for buyers to fail at the highs and then they need to hold a pullback to take control back to the support levels below.

E-mini S&P is bullish with a spike & channel but we are at the highs of today's range which tells us the buyers may struggle to push this price much higher.  Today is one big trading range and we are right at the highs which tells us buyers will be taking profit and sellers will be entering 'short' here.  We also see the recent spike & channel for the bulls has already corrected lower telling us to expect two measured legs higher in the short-term.  Buyers want to see a breakout pullback that holds above the range highs.  Sellers want to see the highs hold as resistance and the buyers fail on the next pullback to sell these highs. 

Gold is bullish with a spike & channel that appears to be ending in a range this evening which tells us to expect the buyers to try 2 legs higher tomorrow, but if they fail we will wait for a correction back to range lows for the next opportunity.  The bulls had clear control of this market today and they finished with a spike & channel that has an overshoot, undershoot, and an attempt to push higher which appears to form a range.  The overshoot appears to have been 'exhaustive' for the buyers which tells us to be patient for a correction back to range-lows, but if the bulls show strength we can expect 2 more legs higher before this market calls it quits.

Euro is bullish with the potential to make one more leg higher, but with 3 pushes into an undershoot of the channel we expect buyers to take profit and wait for a correction to a cheaper price before they buy more this week.  The Euro made a big push higher today, and it still has another leg to make, but with so much profit on the table for the buyers we will expect them to take some profit here.  We also see that the Euro has closed above the 200ema on the daily chart which means tomorrow is going to be 'PROVE IT' time for these buyers, and looking at today's chart we can see PLENTY of opportunity for the bears to send this back to the lows from today if this correction turns into a reversal.



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Trading The Opening Drive On The E-Mini S&P 500 Futures; SchoolOfTrade.com



Selling the buyer failure at the highs allowed us to sell the high and pull in a HUGE 126 ticks this morning!

In today's video we see the E-Mini S&P 500 Futures working higher and getting very weak on the high leading into a sell.

This gave us an opportunity to sell the breakdown move back lower for $1,575 on the trade with only 3 contracts!

E-Mini Dow Futures Day Trading Strategy Review - Buying the 2SF off channel lows

Dow 800V
The Dow had a very wide bull channel correction off lows leading to a firm move up.

This gave a bounce off the lows and a seller failure leading into a 2SF to push price right back up again.

Overall this gave a move up for 10, 40, and 53 ticks on the trail towards the high side targets!

Make sure you sign up for our trial to the Live Trade Room so you don't miss this trade! You will be able to follow along with us as we take it LIVE in the room!

Gold Futures Day Trading Strategy Review - Buying the channel low 2CT

Gold 512V
Gold had a nice stead rise higher off the lows with a bull channel holding price along the way.

This gave a bounce off the channel for a 2CT push right back up again to the highs.

Overall this gave a move up for 10, 20, and 26 ticks to channel high targets above!

Make sure you sign up for our trial to the Live Trade Room so you don't miss this trade! You will be able to follow along with us as we take it LIVE in the room!

Crude Oil Futures Day Trading Strategy Review - Buying channel lows 1CT 2L

Crude 1000V
Crude Oil had a HUGE run up with massive bullish strength after the news came out leading into a S/Ch formation on the highs.

This gave a test of the lows causing the 2L to form for another burst higher.

Overall this gave a move up for 10, 30, and 42 ticks back to midline resistance targets!

Make sure you sign up for our trial to the Live Trade Room so you don't miss this trade! You will be able to follow along with us as we take it LIVE in the room!

Euro Currency Futures Day Trading Strategy Review - Buying the 2L at the 1CT

Euro 1597V
The Euro had a huge run higher with major bull channel support moving right along with price.

This gave a pullback move to test which ended as a 2L breakout move right back up again.

Overall this gave a move up for 10, 22, and 41 ticks on the trail at the HOD targets!

Make sure you sign up for our trial to the Live Trade Room so you don't miss this trade! You will be able to follow along with us as we take it LIVE in the room!

Tuesday, February 2, 2016

Trading Volatility the SAFE Way | Crude Oil, Gold, E-mini & Euro Futures 02/02/16



“I have not failed.  I’ve just found 10,000 ways that won’t work.  There is no such thing as failure, only results.”

Notes for Tonight’s Newsletter:
Crude Oil is bearish but we are sitting on major support this evening so we expect the sellers to take profit here and wait for price to correct higher before selling more tomorrow.  Sellers kept control for the second day in a row today with a bear channel and a measured-move down.  Our goal is to sell the highs of the channel, which tells us to stay patient to sell the highs tomorrow.  Buyers will be looking for a higher-high and hold the pullback for a shot at buying back to the channel highs overhead.

E-mini S&P is also bearish this evening with a completed measured-move and a spike & channel telling us the best opportunities will be to sell after a bullish correction tomorrow.  The bears took clear control early in the session today with a spike & channel and finished the session with a measured-move.  Sellers want to see a bullish correction to sell this at a higher price and they will be watching for buyers to fail on the pullback. We know the spike & channel may correct all the way back to 1920 before the sellers resume this trend, and the buyers are looking for a new higher-high and hold a pullback to have the confidence to get 'long' during that correction.

Gold is bullish and trading inside a megaphone pattern which will likely send price up to the highs before we see a possible bear-trap to push higher tomorrow.  Gold has a bullish-bias to the megaphone pattern and with three tests of the lows we know this is the move the buyers want to send it higher.  We expect the bulls to take profit at the highs of the megaphone, but we can’t sell the highs with confidence so buyers will be looking for the bears to fail off the highs for a possible aggressive push up to the measured-move (1135.0) and major resistance (1136.7) targets overhead.  Sellers need to be careful right now with this type of pattern, but they will be looking for a lower-low and hold the pullback to consider selling it short back to the lows of the megaphone.

Euro is bullish with a spike & channel and headed to test the highs early tomorrow morning.  The most reliable trades will come at the lows of the channel, but we may get a chance to trap some sellers at the highs to complete the measured-move.  We have a multi-day bullish spike & channel and we are trading higher off the lows this evening.  Our goal is to find buying opportunities on the way up to the channel highs, take our profit and then look for rotation back to the channel lows so we can do it again.  We may see an aggressive opportunity at the channel highs if the sellers fail which would allow us to get the measured-move accomplished before heading back lower again.  Sellers have a challenge right now, they want to wait for the completion of channel rotation, ideally completing the measured-move and then sell after a lower-low and a hold of the pullback.



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Are you a Gold Trader? Click here to trade Gold
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Price Action Trading The Wedge Breakout On Crude Oil Futures; SchoolOfTrade.com



Selling the Wedge Pattern Resistance gave us a trade back down for 190 ticks this morning for gorgeous bear rejection!

In today's video we see Crude Oil Futures coming back to retest the earlier Wedge Pattern breakdown with strong rejection.

This gave us an opportunity to sell the rejection right back down again for $1,900 on the trade with only 4 contracts!

E-Mini Dow Futures Day Trading Strategy Review - Buying the range lows 2L

Dow 800V
The Dow had a huge run down but that only led into a range on the bottom which held strongly.

Sellers attempted a push down getting a test of range lows but failing quickly after for a 2L back up.

Overall this gave a move up for 10, 23, and 28 ticks back to range high targets!

Make sure you sign up for our trial to the Live Trade Room so you don't miss this trade! You will be able to follow along with us as we take it LIVE in the room!