Thursday, August 7, 2014

3 Ways to PROFIT from the CHAOS | SchoolOfTrade Newsletter 08/07/14



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You've done it before and you can do it now. See the positive possibilities. Redirect the substantial energy of your frustration and turn it into positive, effective, unstoppable determination.  -Ralph Marston

Today’s Newsletter:
·       Markets Today:  Crude Oil pushes lower, Mini-Russell tries to go higher and collapses, Gold jumps higher
·       News for Tomorrow: China overnight, Europe and US in the morning
·       Trading Opportunities:  Selling Crude Oil, Mini-Russell, and Gold

Notes for Tonight’s Newsletter:

Misc:
·       The situation in Europe is getting attention this week, economic news keeps going lower, and fears of another recession (along with the USD) go higher
·       Russia bans US & EU Imports, rest of the world ‘laughs’
·       All eyes on Middle East, Russia, and Europe (did we get it all?)
·       Very light news session on Friday, adding to concerns of low volume
·       Summer-Friday = low volume and short trading session on Friday


Gold:
·       Long-term Direction Bias = SHORT
·       Short-term Directional Bias = LONG
·       Fundamentals:  pushing higher on tensions in Middle East & Russia
·       Daily Chart:  pushes higher, above the 200 moving-average
·       Anchor Chart:  testing overhead sell-zone @ 1315.0
·       Still looking for selling opportunities at these highs
·       Price needs to pull-back to the 200ema before I consider buying Gold
·       I am listening to geo-political news closely at this time to see if buying is warranted without the pullback.

Crude Oil:
·       Long-Term Direction Bias = SHORT
·       Short-Term Directional Bias = SHORT
·       Fundamentals:  Euro weakness means dollar strength, which means Crude Oil weakness… even while violence increases in the Middle East
·       Daily Chart:  testing support zone at the lows of the bullish price channel
·       32-Anchor Chart: lower-lows and lower-highs, sluggish around $97.00 today
·       16-Anchor Chart: profit-taking pushes price higher, directly into sell-zone overhead at 97.68 and 97.77
·       Profit-targets below @ 96.45, 96.01, and 95.42

Mini-Russell:
·       Long-term Direction Bias = SHORT
·       Short-term Direction Bias = SHORT
·       Fundamentals:  Europe expected to re-enter recession as more economic news disappoints, drags down US equities in the short-term
·       Daily Chart: sideways-trading-range below the 200 moving-average (1129.1)  and above the buy-zone at 1103.3
·       32-Anchor Chart:   buyers tried (again) and failed (again) at the highs
·       16-Anchor Chart:  new lower-lows, below key moving-averages, and looking to get SHORT

·       Profit-targets below @ 1112.4, 1110.0, 1108.9, 1103.1, 1098.1

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