Wednesday, May 14, 2014

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

“We can change our lives. We can do, have, and be exactly what we wish.  All we need is a goal, an action plan to achieve the goal, and the attitude that never gives up.”

Today’s Newsletter:

·      Last Night:  Crude Oil and Mini-Russell BIG Winning Trades!
·      Markets Today: Crude Oil and Gold push higher, Mini-Russell tumbles lower
·      News for Tomorrow: Red-Star News GALORE!
·      Trading Opportunities: Selling Mini-Russell, Buying Gold and Crude Oil

The Markets Today:

Crude Oil:
Day Trading Crude Oil
Crude Oil VIP Chart

Crude Oil pushed higher today (as expected) with a gap-up at the opening-bell and finishing the session just off the highs and just below the next big-round-number at $103/barrel.

The narrow range (72-ticks) was only in the US session (900am – 230pm) which means the bulk of the move happened in the London trading session from 3am – 7am EST.

We saw nothing but bullish price-action on Crude Oil today, and tomorrow we have a TON of Red-Star News to look forward to more buying opportunities on Thursday!

Trade Called Last Night:
Day Trading Crude Oil
Day Trading Crude Oil 
We have been bullish Crude Oil all week, giving you exact entry locations on Monday, and continuing the push higher on Tuesday evening’s newsletter.

Today we hit our final profit-target on the LONG trades up at the 102.57 for a MONSTER profit this week on our Nightly-Newsletter for Crude Oil traders!

Make sure you register for our Nightly-Newsletter on our website so you don’t miss these winning trading opportunities next time!

day trading gold futures
Gold VIP Chart
Gold has been trading inside this range from 1305.5 down to 1285.5 over the last week, but today we FINALLY found a pulse on Gold and the buyers pushed price-action outside of this range!

We still had a VERY narrow trading-range today in the US Session (8:20am – 1:30pm EST) so we still assume these Gold traders are waiting on SOMETHING, so we will continue to trade cautiously at these highs.

We are going to be watching closely this evening and into tomorrow to see WHO grabs control over this area on our chart.

If the buyers take hold we will be moving higher to the prior week’s highs at 1315.8.

If the sellers take control we will then attempt to test the prior week’s LOWS down at 1285.5.

If we trade sideways on the 1305.5 area we need to be very patient because we can clearly tell these Gold traders are waiting on SOMETHING, and we don’t want to try to predict.

day trading mini-Russell futures
Mini-Russell VIP Chart
The Mini-Russell pushed lower today (as expected), filling the GAP from Monday morning (1110 – 1105) and ending the session at the lows of today’s range and below the prior week’s closing price at 1104.6.

We opened with a Gap-down (bearish) and we finished the session right at the lows (very bearish).  The only thing that doesn’t scream “SELL” right now is that volume analysis which is in the middle of the range at 1110.0.

If these sellers keep pushing this price-action lower this evening we are shooting for a test of the prior week lows at 1087.1.

Trade Called Last Night:
day trading mini-Russell futures
Day Trading Mini-Russell futures 
Last night we continued selling short on Mini-Russell from earlier in the week (below 1126.1) and we provided plenty of profit-targets for you to take profit on the way down.

We nailed this trade short on Mini-Russell this week for over $3,000 profit per contract!!

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

News Tomorrow:
day trading economic news
Economic News for Thursday
Thursday morning is FILLED with Red-Star News events that will definitely get the markets moving well for all the members of SchoolOfTrade in our Live Trade Room!

We begin with major news right out the gate at 8:30am EST, and then we have more at 9:15am, and finish up with more news at 10:00am EST.

·      8:30am:         Consumer Price Index*
·      8:30am:         Jobless Claims*
·      8:30am:         Empire State Manufacturing
·      9:00am:         Treasury International Capital
·      9:15am:         Industrial Production*
·      10:00am:       Philly Fed Survey*
·      10:00am:       Housing Market Index
·      10:30am:       Natural Gas Inventories
*Red-Star News

Options Expiration: Friday
This is OPEX week, the third Friday of every 1 month, which means Friday is OPEX.  This means we will be watching closely at the END of the session on Thursday when traders start exiting positions ahead of the end of the week. 

Be ready for profit-taking at the highs on Crude Oil, or a “short-covering rally” at the lows on the Mini-Russell at the end of the day on Thursday.

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.

Day Trading Opportunities for Tomorrow:

Crude Oil:
day trading crude oil futures
Crude Oil Anchor Chart
Crude Oil pushed higher in today’s trading session, and this evening we are getting exactly what we want… a pullback off the highs into a level of major support so we can get LONG later this evening or tomorrow morning.

We can see a bullish price channel on our anchor chart, which tells us to buy the lows for the high-percentage-trades this evening.

Our day trading plan for Crude Oil is to look for buying opportunities at the buy-zones starting at the lows of the price channel, and then at 101.75, 101.52, 101.24, 101.06 and 100.70.

We have profit-targets overhead at 102.65, 102.92, and 103.45.

Short-Term Trading & Scalping:  Please join us tomorrow in our Live Trade Room for short-term trades called with exact entry and exit information.
day trading gold futures
Gold Anchor Chart
Gold also pushed higher in today’s session, but now has run into some major resistance at the 1309.2 sell-zone.

If we look closely at this anchor chart we can see the recent higher-highs and higher-lows and we are above the key moving-averages which tells us to look for buying opportunities on Gold this evening and into tomorrow.

One thing we can’t forget; Gold is still inside a consolidating price wedge and the highs of that price wedge are at 1309.2 up to 1312.3.  We cannot buy directly into this resistance so we will stay patient for a pullback off the highs before we try to buy it.

Our day trading plan for Gold is to buy the lows of this price wedge using the three (3) buy-zones below us at 1297.0, 1293.4, and 1290.0. 

Our profit-targets for the buying opportunities at the lows will be back at the highs of this price wedge around the 1309.2 and 1317.9 resistance levels.

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

Mini-Russell :
day trading mini-russell futures
Mini-Russell Anchor Chart
The Mini-Russell tumbled lower in today’s session, pushing below the key moving-averages and heading towards the lows from last week at 1087.5. 

Our day trading plan for the Mini-Russell is to keep selling short using the sell-zones at 1107.1, 1111.9, 1116.9 and 1127.3.

Our profit-target for the selling opportunities this evening will be the support zone below us at 1097.4, and then at the lows of the range at 1087.5.

Remember, last week we tested the lows at 1087.5 and the sellers got CRUSHED trying to push it lower.  We will be very cautious trying to sell short around the lows, we will stay focused on a price-reversal at the lows for Thursday unless we see an easy break below the 1087.5 area.

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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