Tuesday, May 13, 2014

Day Trading Crude Oil, Gold, E-Mini Russell | SchoolOfTrade Newsletter 05/13/14





“I've come to believe that all my past failure and frustrations were actually laying the foundation for the understandings that have created the new level of living I now enjoy.”

Today’s Newsletter:
·      Markets Today:  Gold sideways, Crude Oil Higher, Mini-Russell Lower
·      News for Tomorrow:  Red-Star News at 8:30am, Crude Oil Inventories
·      Trading Opportunities:  Buying Crude Oil, Selling Mini-Russell, Waiting on Gold
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The Markets Today:

Crude Oil:
Day Trading Crude Oil Futures
Crude Oil VIP Chart

Crude Oil was bullish from the moment we heard the opening-bell ring this morning and never looked back.

Crude Oil opened higher, and after a test of Monday’s Highs (100.93) we pushed higher and closed the session at the highs of the range.

We are looking very bullish on Crude Oil this evening on our VIP Chart, and we have more trading opportunities coming our way tomorrow!

Trade Called Last Night:
Day Trading Crude Oil Futures
Day Trading Crude Oil Futures
In last night’s newsletter we called the trade SHORT at 101.40, along with long-term buying opportunities on pullbacks. 




As you can see, the SHORT at 101.40 was successful, and then we pulled-back into a buy-zone and got some excellent buying opportunities from there.


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 sideways today, right in the MIDDLE of the range from last week.

Gold continued to trade sideways today with a very narrow range and inside the range we defined in last night’s newsletter from 1305.5 down to 1284.8.

Our plan for day trading Gold will be to buy-the-lows at support and sell-the-highs at resistance while we avoid trading in the middle of this range.

Trade Called Last Night:
Day Trading Gold Futures
Day Trading Gold Futures
In last night’s newsletter we called the LONG at the lows of the price channel, and we got an easy buying opportunity at the 1289.0 area which earned over $1,000 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 E-Mini Russell Futures
Mini-Russell VIP Chart
Just as we anticipated, the Mini-Russell traded in a narrow range this morning after we saw a very wide range on Monday.

The Mini-Russell traded sideways today until we broke below the 1126.1 and then the party started with the sell-off.

The biggest clue we have on the VIP chart of Mini-Russell is that the closing-price and the VOLUME are both at the lows of today’s range.

Trade Called Last Night:
Day Trading E-Mini Russell Futures
Day Trading Mini Russell Futures
Last night we talked about the wide range from Monday would like lead to a narrow trading-range on Tuesday, and that is EXACTLY what happened. 



Remember…knowing this information kept our members out of trouble today because we knew exactly what to expect.

More importantly, we called the trade SHORT below 1126.1, with a profit-target below us at 1115.7 and this evening we are up over $800 per contract on that trade called over 18 hours BEFORE I triggered!

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:

Economic News for Wednesday:
day trading news
News for Wednesday
Tomorrow we have Red-Star News at 8:30am EST to kick-start the price-action early in the US session, and then we have news from Crude Oil Inventories to wrap-up the morning.





·      8:30am:   Producer Price Index (Red-Star News)
·      10:00am: Housing Market Index
·      10:30am: Crude Oil Inventories

Wacky Wednesday
Tomorrow (Wednesday) is called ‘Wacky Wednesday’ because it is the Wednesday before Options Expire on Friday (OPEX).

We know that tomorrow will be marked by un-expected volume entering the market as professional traders manage their portfolio ahead of Friday’s Options Expiration.

‘Wacky Wednesday’ is very easy to trade, you do NOT need to avoid the entire session, but you DO need to be aware that the volume will be ‘inconsistant’ at times when large block-orders hit the tape without any real reason.

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
Day Trading Crude Oil 
Crude Oil pushed to new highs this evening, and as of writing this we are testing the major resistance level at 102.03 so we are looking for short-term selling opportunities off this resistance with long-term buying opportunities going into Wednesday morning.



Our day trading plan for Crude Oil is to sell SHORT at this 102.03, taking our profit-target back at the 101.18 support level.

After we collapse off these highs we will then look for buying opportunities at the levels of 101.18, 100.87, and 100.18.  Our profit-targets overhead will be at 102.03, 102.57, and 102.92.

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
Day Trading Gold
Gold is trading in the middle of the range this evening, which tells us that we need to stay patient for the high-percentage-trades selling the highs or buying the lows.





Our day trading plan for Gold is to ‘sit-on-hands’ in the middle of this range around the 1295.0, and then buy the lows at 1289.0 or sell the highs at 1301.2.

We are looking for buying opportunities at the lows, and selling opportunities at the highs, so we will stay patient for price-action to move into these areas before we commit to anything on Gold.

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
Day Trading Mini-Russell
Mini-Russell is bearish this evening and trading below our key moving-averages on our anchor chart. 

We called the trade SHORT from 1126.1, and now we will continue to look for selling opportunities with each new lower-low on the way to our profit-targets down at 1115.7, 1111.1, 1105.4 and 1100.6.

Our day trading plan for the Mini-Russell is to sell short with new lower-lows or look for selling opportunities at the sell-zones overhead at 1121.1, 1123.1, 1126.4 and 1131.4.  We will use the same profit-targets below us acting as 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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