Day Trading Crude Oil, Gold, Euro & Mini-Russell | SchoolOfTrade Newsletter 03/11/14

“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” - Mark Twain

Reflections from Today:

·       Today’s Trades:

o   Crude Oil: Short-selling at its best!

o   Gold:  Short @ 1348.1

o   Mini-Russell:  Short @ 1202.1

·       Markets Today:

o   Crude Oil:  -222ticks (-1.44%) @ 99.49

o   Gold:  +152ticks (+0.71%) @ 1349.0

o   Mini-Russell:  -232ticks (-1.10%) @ 1184.9

·       News Today:

o   No Major News on US Calendar

o   Japan battles economic woes ahead of Tax hike

o   Russian annexation of Crimea appears certain

o   Slowdown in China causes Oil to fall for a second day in a row, down $1.50, below $100.00

o   Crude Oil API# = +2.63M (3^rd straight build, largest since Jan ’14)

·       This Day In History:

o   Mar 11, 1888:  “Blizzard of 1888” 400 die in worst storm in US History

o   Mar 11, 2011:  Japan struck by Earthquake results in 23-foot tsunami

o   Mar 11, 1997:  Paul McCartney, member of most successful rock band in History (The Beatles) is knighted by Queen Elizabeth II for his ‘services to music’

·       News Tomorrow

o   Finally!  We got News!

o   7:50pm (JPY) Producer Prices

o   6:00am (EU) Industrial Production

o   10:30am (US) Crude Oil Inventories

§  Note:  today’s API# highest since January, 3^rd straight week

o   2:00pm (US) Treasury Budget

·       Chart of the Day

o   Crude Oil:  SHORT – target at 97.78

o   Gold:  LONG - target at 1352.9

o   Mini-Russell:  SHORT – target at 1172.9

Mini Russell Chart of Day

Gold Chart of Day

Crude Oil Chart of Day

Economic News for Tomorrow:

Commentary coming soon!

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Trend Line Trading Gold Futures; SchoolOfTrade.com

In today's video we see Gold pushing into a trend line above that we got from our 60-Minute chart. Once we tagged those highs we saw an immediate rejection from the sellers dropping price right back down for us to hop on board with a gorgeous 123 reversal pattern for a VERY high percentage trade that we were able to get $470!

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil has had quite the drop in price from yesterday. Disregard the gap in price, this is a problem with NinjaTrader and should be fixed by this weekend. We are now nearing the wedge lows and demand from 100.75 - 100.13. I am looking to sell down to that area where I will be then looking to buy this market right back up to first test the previous high at 101.54 as well as higher to the BMT at 102.09.

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

Automated Trading Strategy Review - Crude Oil Futures

Crude Auto Trader

Crude Oil has been on a downward tear over the past week dropping from the highs above 105.00 all the way down to near 100.00! This massive sell off has given us some VERY trendy markets to trade and the TREND Auto Trader LOVES these types of conditions! Overall we had quite a few trades fire off and it was well worth it banking  us a rock solid $2,380 this past week! It had quite a few chances to really bag some nice trades!

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

Day Trading Gold, Crude Oil, Euro, and E-Mini | SchoolOfTrade Newsletter 03/10/14

“When one door closes, another one opens; but we often look so long and so regretfully upon the closed door that we do not see the one which has opened for us. - Alexander Graham Bell

Reflections from Today:

·       Friday’s Trades:

o   Crude Oil: Sell @ 102.68 (winner)

o   Gold:  Buy @ 1326.6 (Winner)

o   Mini-Russell: Sideways, No trade

·       Markets Today:

o   Crude Oil:      197t (-1.66%) @ 100.99

o   Gold:              174t (+0.06%) 1340.2

o   Mini-Russell: 114t (-0.15%) @ 1200.2

·       News Today:

o   No Major Economic News in the US today

o   Traders dealing with Daylight Savings Time, clocks pushed ahead 1-hour

o   Low Volume after Daylight Savings Time begins in the US

o   Weak Trade Deficit from China got markets moving overnight

o   Malaysia Jet still missing as of this time

o   Drama continues between Russia & Crimea, impact on markets has been very limited

·       This Day In History:

o   Mar 10, 1876 :  First telephone call was made by Alexander Graham Bell, saying “Mr. Watson, come here I need you.”

o   Mar 10, 1969:  James Earl Ray is sentenced to Prison for 99 years for the murder of Martin Luther King, Jr.

o   Mar 10, 2000:  NASDAQ closes at a record-high 5048.62, absolute peak in the market at that time

§  25% y/y (87% in 1999)

§  Stocks trading at 120 times earnings

§  Majority of companies < 2 years old, never reported a profit

§  Plunges 60% over the next 12-months

·       News Tomorrow

o   No Major News in the US on Tuesday

o   Listening for news from Russia

o   5:00am EST:  (IT) GDP

Economic News for Tomorrow:

Economic News Tomorrow

We do not have any major economic news on the calendar for Tuesday March 11^th, which means we will be listening for commentary out of Russia as well as being ready for ANYTHING that may come out tomorrow during the trading session. 

Trading with Flag Price Patterns; SchoolOfTrade.com

In today's video we take a look at one of our favorite price patterns, the FLAG. This is a VERY powerful pattern that, when traded correctly, can bring in some VERY solid profits! This can be traded on any time frame and any chart type and is a very versatile pattern that any trader can add to their repertoire!

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil attempted to break above the BMT on the 7th but just couldn't hold those highs. We then broke strongly down over the weekend and this morning back under the BMT. I am looking to sell this market lower with these sellers down to demand from 100.75 to the wedge low and possibly farther to the lows at 100.13 at the bottom of demand.

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

Automated Trading Strategy Review - E-Mini Russell Futures

Russell Auto Trader

The Russell overall in the past week or so has been VERY choppy and sideways. We saw a HUGE run higher on big strength only to be followed up with VERY slow price action afterword. Fortunately for us, this is a literal playground for the FLEX Auto Trader giving it a HUGE amount of opportunity to take several solid trades and bring home some solid profits banking us a nice $900 this past week on higher than average trading volume!

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

Trade the News Weekly Market Update: Cold Weather, Cold War

Hope everyone had a profitable week of trading! 
- Joseph James & Team

- The S&P 500 notched new all-time closing highs this week and not even the prospects of war in Ukraine managed to unseat the relentless bid. Ukraine became a central issue after Russian troops occupied Crimea without a shot fired and the Ukrainian province prepared to legitimize the move via referendum. 

In Europe, ECB President Draghi was more hawkish than expected and resisted calls to offer additional accommodation or even say the word deflation. At China's National People's Congress, Beijing unveiled its official 2014 targets, most notably maintaining the 7.5% GDP objective for the third year in a row and set the inflation target at 3.5%. 

Sideways Double Top Trading E-Mini Russell Futures; SchoolOfTrade.com

In today's video we see an AWESOME opportunity given to us by the Russell! We know that the past few days have been VERY sideways on the Russell so instead of looking for trend trades, we looked to take counter-trend trades which got us in to a gorgeous Double Top pattern short to fill our targets below for a nice profit of $400!

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil has caught a VERY strong sell off over the past few days dropping price down to a low of 100.13 where the buyers ended up stepping in and pushing it back up. We are now nearing the BMT which will begin to act as a magnet so I will be looking to buy this market higher into the BMT at 102.32. From there, if we reject it, I will look to sell and if we break above it I will look to buy higher.

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

Automated Trading Strategy Review - E-Mini Russell Futures

Russell 60-Minute

The Russell has been catching a HUGE run higher and has been trending quite a bit to the upside, but over the past few days we have seen price completely flatten out while everyone is digesting this large price movement. This massive trending higher has given the TREND Auto Trader more than enough opportunity to profit on these large moves up and kept it out of the chop for the most part allowing us to bank a MASSIVE $3,370 this past week!

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

Day Trading Gold, Crude Oil, E-Mini Russell | SchoolOfTrade Newsletter 03/06/14

“I can’t imagine a person becoming a success who doesn't give this game of life everything he’s got.” – Walter Cronkite

Reflections from Today:

·       Today’s Trades:

o   Crude Oil: Selling opportunities down to 100.30

o   Gold:  Buying opportunities after ECB Announcement

o   Mini-Russell: Range-bound market, sell highs & buy lows

·       Markets Today:

o   Crude Oil: 195-ticks (+0.90%) @ 101.89

o   Gold: 226-ticks (+1.03%) @ 1350.6

o   Mini-Russell: 83-ticks (-0.15%) @ 1203.6

·       News Today:

o   ECB Rate Announcement sends Gold higher

o   Jobless Claims push lower ahead of Non-Farm Payrolls (3-mo lows)

o   Factory Orders come out lower than expected

o   Ukraine:  Crimea Parliament votes to join Russia, Ukraine disagrees, US and EU call it

·       This Day In History:

o   Mar 6, 1899:  Friedrich Bayer & Co. patent Aspirin; rumors surround WHO created it

o   Mar 6, 1926: Alan Greenspan is born in New York City

o   Mar 6, 1930:  Clarence Birdseye invents ‘quick freezing’ technology;

§  Frozen foods hit store shelves in Mass. for the first time

§  Company sold Goldman Sachs for $22M, later becomes General Foods Co.

o   Mar 6, 1959:  Texas Instruments introduce the first ‘integrated circuit’, known today as the ‘microchip’.

o   Mar 6, 1981:  Walter Cronkite, “the most trusted man in America” retires from Evening News, replaced by Dan Rather

§  Cronkite:  only non-NASA recipient of Moon-Rock Award

§  Cronkite:  famous for saying, “and that’s the way it is”

§  Cronkite:  passed away on July 17, 2009

o   Mar 6, 1997:  Queen Elizabeth II launches the first ‘Royal Website’

·       News Tomorrow

o   8:30am EST:  (US) Non-Farm Payrolls

o   8:30am EST:   (US) International Trade

Economic News for Tomorrow:

Friday's News Schedule

Tomorrow is one of the most important days in the month of March; the first Friday of every month is when we see the release of the Non-Farm Payroll Jobs Report. 

Day Trading with Symmetrical Triangle Patterns; SchoolOfTrade.com

In today's video we take a look at Symmetrical Triangles as both a pattern and a potential trade setup! 

This is a fantastic advanced price action trade setup that we can use on any time frame and any market and it works quite well!

Major Futures Markets Day Trading Strategies

Crude 60-Minute

Crude Oil has caught a significant amount of selling pressure yesterday where we saw prices fall from the highs back in the 103's all the way down to upper 100's. This sell off extended the wedge lows where we had a bit of buying come in but eventually fell lower again. I am looking to sell this down to demand at 100.37 but also buy up to retest the wedge lows around 101.10 or so.

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