Monday, May 12, 2014

Day Trading Crude Oil, Gold, E-Mini Russell | SchoolOfTrade Newsletter 05/12/14




“In essence, if we want to direct our lives, we must take control of our consistent actions. It's not what we do once in a while that shapes our lives, but what we do consistently.” 

Today’s Newsletter:
·       Markets Today: Gold higher, Mini-Russell higher, Crude Oil doesn’t have a clue!

·       News for Tomorrow: China’s Retail Sales, German Business Confidence, US Retail Sales

·       Trading Opportunities:  Price wedge on Gold, Sell the highs on Mini-Russell, buying opportunities on Crude Oil

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The Markets Today:

Crude Oil:
day trading crude oil futures
Crude Oil VIP Chart
 Crude Oil traded inside Friday’s trading-range and keeps coming back to the $100/barrel which tells us this market-personality is looking for something this week as a catalyst.



The events in Ukraine continue to be the leading story for Crude Oil traders, so we can safely assume that’s the reason why $100 is such a stingy area on the VIP Chart, so we need to trade this market personality like a range-bound market and sell the highs or buy the lows.

Trade Called Last Week:
day trading crude oil futures
day trading crude oil futures
We gave you an exact buying area on Crude Oil last week, and this week we are cashing paychecks because of it!

Both of these LONG trading opportunities earned over 100-ticks, or $1,000 per contract on EACH trade!



Make sure you register for our Nightly-Newsletter on our website so you don’t miss these winning trading opportunities next time!
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Gold:
Day Trading Gold Futures
Gold VIP Chart

Gold traded higher this morning, directly into a sell-zone we called in last week’s newsletter, and then collapsed right back down to where it began the session.



We can see that price-action is trading inside the range from 1305.5 down to 1284.8 which was the entire range from last WEDNESDAY.  We will be keeping a close eye on this range looking for buying opportunities at the lows and selling at the highs.

Notice on this VIP chart, the buyers really tried to push this higher because the volume is all at the 1302.2, which is above the big-round-number of $1300/oz so this tells us the buyers tried today, but the sellers got the best of them.

Trade Called Last Week:
Day Trading Gold Futures
Day Trading Gold Futures
We called 2 profitable selling opportunities on our newsletter from last week, and both short-selling trades earned over $800 per contract. 




Don’t forget to register for our Nightly-Newsletter so you never miss another trade call again!
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Mini-Russell:
day trading Mini-Russell Futures
Mini-Russell VIP Chart
Mini-Russell was on a TEAR this morning!  We gapped-up at the opening-bell and never looked back until the end of the morning session when we then traded sideways and finished the session right at the highs.



This HUGE range for today tells us that tomorrow’s range will most likely be MUCH smaller, so be ready for range-bound markets tomorrow on the Mini-Russell.

Notice we are above the prior-week’s highs and trying to push above the 1136.1 resistance and once we get above 36.1 we have a wide-open-space straight up to 1147.6 for the buyers tomorrow.

Trade Called Last Week:

day trading Mini-Russell Futures
day trading Mini-Russell Futures
WOW!  We nailed the Mini-Russell last week in our newsletter. 

We said to “sell short down to 1088.5 and take your profit-target because they were going to guard that support level BIG TIME.”

Not only did we make profit on the SHORT, but we were able to use the 1088.5 support area for buying opportunities that followed shortly thereafter.

Did you register for the Nightly-Newsletter on our website?  Make sure you register so you never miss another newsletter or winning trade again!
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News Tomorrow:

NEWS:
Day Trading the News
Day Trading the News
We have a lot of important Red-Star News on the schedule for this evening and into Tuesday morning, so get ready for another exciting session overnight and into tomorrow!



We begin overnight in China with Industrial Production and Retail Sales coming at back-to-back starting at 1:30am EST.

We then move to Europe, where we have one of the biggest news reports, the German ZEW, which is a business confidence report, and coming from the largest economy in the EU we know everyone will be paying close attention.

In the US session tomorrow we have another very important Retail Sales Report at 8:30am EST which will be VERY important because we have been watching the rebound in manufacturing and retail sales after Mother Nature took the “whoopin’ stick” to us end of 2013 and into 2014.

Options Expiration: Friday
This is OPEX week, the third Friday of every 1 month, which means Wednesday is ‘wacky’ and Friday is OPEX.  Stay tuned for more info on that as we move into the middle of the week.  We do NOT have any concerns about this until Wednesday.


Contract Rollover: Crude Oil
Heads up on Crude Oil Futures, which will be rolling forward to the 07-14 contract at the end of this week.  

The BIG concern will be over ‘sharing volume’ later this week, which will likely make for a very slow Friday trading session.  Stay tuned for more on that as we get closer.

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Day Trading Opportunities for Tomorrow:

Crude Oil:
Day Trading Crude Oil Futures
Day Trading Crude Oil Futures  
Crude Oil is suffering from an identity-crisis this evening after making new higher-highs AND lower-lows on Friday afternoon before the weekend started but still inside this obvious bullish price channel and bullish trend.



We have the bullish price channel which is telling us to BUY the lows down at 99.97, 99.85, and 99.71 as this price-action moves off the highs.

We also have a short-term price wedge with a sell-zone up top at 100.87 to 101.01 which is where we will look for selling opportunities this evening and tomorrow morning.

Our day trading plan is to buy-the-low of this bullish price channel, and take profit-targets at the sell-zones overhead at 100.87, 101.18 and 101.42.

Furthermore, the lower-low from last Friday tell us to look for selling opportunities at these highs, so we will also look for a failure from the buyers up around the 101.00 area and if we can find the proper entry trigger we will sell the highs with a counter-trend SHORT back down to a profit-target at the 100.00 big-round-number and specifically at the 99.97 support.

Short-Term Trading & Scalping:  Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
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Gold:
Day Trading Gold Futures
Day Trading Gold Futures
Gold is trading in the middle of this range this evening, and we have some conflicting signals for the TREND going into tomorrow.

We are right in the middle of this price wedge and right on top of our key moving-averages on the anchor chart.

We do NOT have a very strong trend, and the moving-averages are FLAT right now so we are going to sit-on-hands in the middle of this range and wait for selling opportunities at the highs around the 1304.5 area, or buying opportunities at the lows around the trend-line support or the 1289.0 buy-zone.

Our day trading plan on Gold Futures is to avoid the middle of this price wedge, and buy-the-lows at support or sell-the-highs at resistance.

Short-Term Trading & Scalping:  Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
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Mini-Russell :

Day Trading Mini-Russell Futures
Day Trading Mini-Russell Futures (32)
Mini-Russell pushed higher by almost 2.5% in today’s trading session, giving us buying opportunities with the wave-pattern long all the way up.



Now we want to look for buying opportunities but we need to wait patiently for this price-action to move lower because this current price is way over-priced and we always want to buy at a discount, rather than at a premium.

First, we can see on the 32-anchor chart that we have some major resistance waiting for us overhead starting at the trend-line resistance and the sell-zone at 1151.4 down to 1139.3.  We will be SELLING this resistance overhead as we push higher overnight and into tomorrow.

Day Trading Mini-Russell Futures
Day Trading Mini-Russell Futures (16)
Second, we want to buy again after this price comes off the highs, and our 16-anchor chart shows us exactly what to look for.  Once we see this price-action come off these highs we are buying the zones at 1115.7, 1111.1, and 1105.4 and so-forth on the way lower.


Our day trading plan for the Mini-Russell is to sell short below the 1126.1 and take our profit-target down at the trend-line support or buy-zone at 1115.7.

Once we get down to the buy-zone at 1115.7 we will begin looking for buying opportunities back up to the highs from Monday afternoon at 1135.0

Short-Term Trading & Scalping:  Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.

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