Monday, August 4, 2014

3 Ways to Sell-SHORT on Tuesday | SchoolOfTrade Newsletter 08/04/14

“Excellence can be obtained if you care more than others think is wise, risk more than others think is safe, dream more than others think is practical, expect more than others think is possible.” – Ralph Marston

Today’s Newsletter:
·       Last Night:  More winning trades cash-in from last week’s calls to sell short
·       Markets Today:  low-volume, retracements off fresh lows
·       News for Tomorrow:  Red-Star News in Asia and Europe
·       Trading Opportunities: Selling opportunities galore… but stay patient.

Notes for Tonight’s Newsletter:

·       HUGE Profits last week selling-short on Crude Oil  & Mini-Russell
o   3 days of >100tick calls on our Newsletter
·       2nd week of the month = few Red-Star News Events
·       Low-volume on a Summer-Monday today.
·       Geo-political news take center-stage this week without much economic news
·       Expecting a light week, only 3 weeks till kids go back to school in the US
·       Markets reacting to last Friday’s Non-Farm Payroll
·       Markets digesting the big collapse from last week, price-action retracing off fresh monthly lows.

·       Directional Bias = SHORT
·       Daily Chart:  trading in the middle of the price wedge
·       Daily chart:  support below @ 1265.8
·       Sell-zone tested @ 1297.8, selling-short
·       Entry short should be before we test 1284.7 support
·       Profit-targets below @ 1281.0, 1275.5 and 1264.8

Crude Oil:
·       Directional Bias = SHORT
·       Daily Chart:  testing support at 96.90
·       Daily Chart:  below 200ema, but watch for a ‘bounce’ and re-test of resistance at 99.56
·       Market was ‘irrational last week’ so we stay patient early this week
·       Waiting for proper retracement so we can get back to selling-short.

·       Directional Bias = SHORT
·       Daily Chart:  testing the lows of the range @ 1103.3
·       Daily Chart:  price-magnet @ 200ema above at 1129.4
·       Seller’s targets hit last week, now waiting for retracements

·       Very close to getting our next entry triggered short, waiting/watching

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