Tuesday, August 5, 2014

3 Clues the Trend May be OVER | SchoolOfTrade Newsletter 08/05/14




Don't lower your expectations to meet your performance. Raise your level of performance to meet your expectations. Expect the best of yourself, and then do what is necessary to make it a reality.  -Ralph Marston

Today’s Newsletter:
·       Last Night:  More winning trade-calls!  Crude Oil and Gold
·       Markets Today:  All markets moving lower… but will it last?
·       News for Tomorrow:  Red-Star News in Europe and US Session, Crude Oil Inventories
·       Trading Opportunities:  Selling Crude Oil, Waiting on Gold and Mini-Russell

Notes for Tonight’s Newsletter:

Misc:
·       Gold Trade-Call:  Short @ 1294.0, Profit-target at 1284.7 (winner)
·       Crude Oil Trade-Call:  Short @ 99.47, Profit-target at Lows (winner)
·       Red-Star News in Europe and US sessions tomorrow
·       Geo-political news still remains a big concern for the markets
·       Markets appeared to be ‘exhausted’ today, we are watching the market-personality and price-action closely ahead of Wednesday’s session


Gold:
·       Direction Bias = SHORT / Neutral
·       Daily Chart:  trading in the middle of the range, pushing lower
·       Daily Chart:  support at the lows of the price wedge @ 1265.8
·       16-Anchor Chart:  short-term price wedge with bearish bias
·       Profit-targets below @ 1281.0, 1274.5, 1267.9

Crude Oil:
·       Direction Bias = SHORT
·       Daily Chart:  testing major support at price channel lows @ 97.12
·       Entry short triggered today @ 8am @ 98.47
·       Re-Entry opportunities @ 97.84, 98.03, 98.31 and 98.48
·       Profit-targets @ 95.92 and 95.17

Mini-Russell:
·       Direction Bias = SHORT / Neutral
·       Daily Chart:  doji candle, balanced session near the range lows and support @ 1103.3
·       32-Anchor Chart:  trading sideways with bias to the short-side
·       16-Anchor chart:  trading sideways, waiting for new lower-lows below 1110.4 for more entries short down to 1103.1 and lows of the price channel.

·       Profit-targets @ 1103.3, 1101.5, 1089.6 and 1084.6

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