Thursday, September 11, 2014

5 Day Trading Strategies for Friday | SchoolOfTrade Newsletter 09/11/14

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“Study while others are sleeping; work while others are loafing; prepare while others are playing; and dream while others are wishing.”–William Arthur Ward

Notes for Tonight’s Newsletter:

·       Today we remember 2,977 people who lost their lives 13 years ago on September 11, 2001, which include 4 airplanes, the Twin Towers, and the Pentagon.  “We will NEVER forget.”
·      Woah… what a trading opportunity we had today!!
·       Gold keeps moving lower, tests 1235.0 while hitting ALL of our profit-targets on the way down!
·       Crude Oil tumbles overnight (as we called last night) and tested our profit-target at the lows of the bear price channel before bouncing and returning back to the highs for yet ANOTHER winning trade-call on Crude Oil Futures
·       Mini-Russell buyers held off the sellers for yet another session today, trading at the highs of the range and giving us fresh buying opportunities for Friday and next week.
·       Overnight; Chinese Consumer Prices tumble to 4-month lows, which explains the drop in Crude Oil prices before the US Session began
·       Red-Star News on Friday = Retail Sales (very important)
·       Geo-political; New Sanctions against Russia are being drafted by the US, EU, and pretty much everyone else except China (shocker).
·       Contract Rollover on E-mini Futures to 12-14
·       Next Week is Quadruple Witching (3rd week of September)

·       Long-Term Direction Bias = SHORT
·       Short-Term Directional Bias = SHORT
·       Fundamentals:  Strong US Dollar, low levels of inflation, combined with less fear around the world are pushing the price of Gold lower.
·       Daily Chart: We have tested the 1238.0 buy-zone at the lows of the price channel.  We should see support enter the market here, however we still have one more leg down to test the trend-line below us.
·       64-Anchor Chart:  We collapsed lower today, hitting 1 of our 3 profit-targets on the way.  We will wait for another selling opportunity at 1260.1 and 1266.5
·       32-Anchor Chart:  New lower-lows tell us the trend is down, and we are looking for selling opportunities at the trend-line overhead as well as the 1255.1, 1259.7 and 1260.0 areas above us.
·       16-Anchor Chart: New lower-lows have us waiting for more selling opportunities as price-action retraces off the new lows.  We want to sell the levels at 1241.9, 1243.5, 1245.7 and 1247.0
·       Profit-targets below @ Price channel lows, 1232.3, 1227.7, 12224.7, 1222.0, 1214.1

Crude Oil:
·       Long-Term Direction Bias = SHORT
·       Short-Term Directional Bias = SHORT
·       Fundamentals:  Increased supply, lower demand around the world because of a slowing economy and a very strong US dollar are all pushing the prices of Crude Oil lower.  
·       We can assume ‘bargain hunters’ bought the $90.50 area today; sellers will come in again on Friday most likely.
·       Daily Chart:  Crude Oil prices have tested the lows of the price channel as well as the lows of the buy-zone at 91.21 before bouncing off these support levels back to rest @ $93.00/barrel.
·       64-Anchor Chart:  We hit our profit-target @ 90.58 early this morning after poor economic news from China sent price tumbling ahead of the opening-bell in the US.  We can clearly see a strong bearish trend on this chart.
·       32-Anchor Chart: New lower-lows give us new selling opportunities at the highs of this bear price channel as well as at 93.22, 93.50, 93.87 and 94.16
·       16-Anchor Chart:  bargain-hunters bought the $90.50 level at the lows of our chart, and price tested the sell-zone at 93.36, which gives us the green-light to look for the next selling opportunity down to the lows once again.
·       Profit-targets below @ 91.07, 90.43, 90.00, 89.76, 88.62

·       Contract Rollover is tomorrow on Mini-Russell
·       Long-Term Direction Bias = LONG / NEUTRAL
·       Short-Term Directional Bias = LONG
·       Fundamentals:  Strong US-Dollar, Low inflation, Weak European and Chinese economies are making the US equities VERY easy to buy, which keeps pushing the price higher on the Mini-Russell.
·       Daily Chart:  The buyers have held the support at 1156.6 and appear to be trying to make a run for the recent highs at 1187.7.
·       64-Anchor Chart:  Buyers on the Mini-Russell appear to have back control at the lows of the bull price channel and are trying to re-test the 1187.5, and possibly the all-time highs @ 1210.7
·       32-Anchor Chart: Mini-Russell is testing the highs of the ‘potential’ sideways-trading-range at 1174.6.  We have selling opportunities at these highs, and if we make new highs and can STAY above them we will begin looking for buying opportunities up to the 1180.4, 1183.9 and 1187.9
·       16-Anchor Chart:  New higher-highs tell us the buyers are trying to take control over this market, which tells us to stay patient for pullbacks into our buy-zones @ 1169.1, 1165.8 and 1163.3 at the lows of this new bull price channel.
·       Profit-targets above @ 1175.8, 1179.2, 1180.4, 1181.0, 1183.5, 1183.9, 1187.9

·       Profit-targets below @ 1157.6, 1153.0, 1146.8

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