Monday, June 27, 2016

Tuesday’s Trade Plan | Crude Oil, Gold, E-mini & Euro Futures 06/27/16


“If you can imagine it, you can achieve it; if you can dream it, you can become it.” –William Arthur Ward

Notes for Tonight’s Newsletter:
Our favorite futures markets are reacting to last week's Brexit vote with some choppy price-action this evening but our plan is to turn OFF the news media and turn ON the charts and let the technical clues be our guide for tomorrow; Crude Oil, S&P and Euro are bearish while the Gold is bullish going into Tuesday's session. 

Market Psychology Of Brexit Range Morning On Crude Oil Futures; SchoolOfTrade.com



We came in today after a full weekend of analysts ripping apart the Brexit vote with fresh eyes. This gave us a HUGE gap lower on Crude Oil showing that the bears from Friday haven't gone anywhere and are likely going to keep wanting to sell.

The large gap lower will likely see an initial buy move just off of sellers taking profit and other sellers not wanting to sell that far down who will wait for a retrace. This gave them a great area to sell right back down again turning the day into a range sentiment going into lunch time!

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Price Action Trading The Bear Trend On Crude Oil Futures; SchoolOfTrade.com



We came in today to find Crude Oil getting beat up a bit and sellers dominating the morning movement. This let us know that the ONLY thing we need to be doing is selling so wait for traps and good signals and sell on the way lower.

We had a nice correction back to the EMA where the sellers immediately began selling for any reason they could find with one of the best ones on a buyer failure to breakout above the EMA and prior swings which was smacked right back down again by the sellers!


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Thursday, June 23, 2016

5 Trades for Friday | Crude Oil, Gold, E-mini & Euro Futures 06/23/16



“Change your thoughts and you change your world.” –Norman Vincent Peale

Notes for Tonight’s Newsletter:
Markets are setting-up for another exciting session tomorrow as the final 'Brexit' votes are being tallied; Crude Oil, S&P and Euro are bullish while Gold is bearish going into Friday's trading session.  We're expecting plenty of trading opportunities in tomorrow's session!

Market Psychology Of A Failure On Crude Oil Futures; SchoolOfTrade.com



Today we open up with a HUGE gap higher showing that the buyers from the EOD yesterday are likely very happy with the move and given that the first bar of the day was so bearish, taking profit as well. This profit taking may just be for a few candles or it could be for the whole day.

The profit taking move down was quickly snapped up by buyers likely chasing the move from yesterday but they had TERRIBLE continuation. The buyers couldn't even manage to break the HOD by more than 1 tick before failing back down and that is a HUGE clue that they were losing grip very quickly.

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Price Action Trading The Wedge Breakout Move On Crude Oil Futures; SchoolOfTrade.com



Today we have a very nice run higher on Crude Oil which hit the big 50$ mark and it shut down all of the bullishness that was there. This complete shut down of buyers likely took a lot of traders by surprise which led to the stop run move lower.

The pullback off the highs were very likely bought but with the bulls getting worse and worse follow through, when they saw a wedge breakout potentially occurring they all realized they were wrong and exited causing a VERY  nice run lower!

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Wednesday, June 22, 2016

Brexit Trading Strategy | Crude Oil, Gold, E-mini & Euro Futures 06/22/16



“Your time is limited; don’t waste it living someone else’s life. Don’t let the noise of other’s opinion drowned your own inner voice. And most important, have the courage to follow your heart and intuition, they somehow already know what you truly want to become. Everything else is secondary.” –Steve Jobs

Notes for Tonight’s Newsletter:
We have some active markets & plenty of trading opportunities ahead of tomorrow's 'Brexit' vote; Crude Oil and the S&P are both bearish while Gold is sideways and Euro is bullish going into a highly-anticipated Thursday trading session.

Market Psychology Of A Tight Range Morning On Crude Oil Futures; SchoolOfTrade.com



We open up with a small gap up after a large burst of buying pressure off the EOD yesterday. This is going to create some very happy buyers which will be in two camps. One will take profit right away and go home for the day while the others will get a bit greedy and try to hang on.

This ended up causing a range on the day with the greedy buyers essentially putting a ceiling on the market after they realized they were wrong before seeing the sentiment completely shift going into the news allowing the bear breakout lower!

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Price Action Trading The Bearish Continuation On Crude Oil Futures; SchoolOfTrade.com



We came in today to see Crude Oil dropping most of the morning after the huge API run higher last afternoon. This move down was likely initially on profit taking but had gone on a bit too long as was transitioning into a bear trend quickly.

This gave a snap back to the EMA on a 2 legged correction before seeing sellers pile right back in for another drive to the lows to finish the move off  ahead of the inventory numbers later in the morning!

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Tuesday, June 21, 2016

Wednesday Trade Plan | Crude Oil, Gold, E-mini & Euro Futures 06/21/16



“Trading is a game of probabilities and pattern-recognition that can be won by anyone who is willing to invest the time to learn the business, develop the skills, and maintain the trader's mindset.” – Joseph James
Notes for Tonight’s Newsletter:
Markets are giving us great moves this week as Janet Yellen testifies on Capitol Hill and the Brexit vote gets closer; Crude Oil is bullish, E-mini S&P is sideways, while Gold and Euro are bearish going into Wednesday's session.