Tuesday, March 10, 2015

Which way for Wednesday? | SchoolOfTrade Day Trading Newsletter 03/10/15

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Notes for Tonight’s Newsletter:

We are seeing mixed-clues ahead of Wednesday’s trading session;  after today’s big selloff we can expect to see a correction off these lows… but don’t count out those bears… are you ready for tomorrow?

Crude Oil is bearish and giving us mixed-clues for tomorrow.  We can see volume confirming the new lows today, but we also see a channel-undershoot at the lows.  This tells us to stay patient to sell at resistance levels after the correction, and we have targets below!

Gold is bearish, but volume does not confirm this move lower today, which tells us we will likely see traders take their profit at the lows.  Stay patient to sell at resistance levels overhead, and aggressive trades can look at buying on the way up to the resistance levels.

Russell is bearish, trading at the lows of the bear-channel and we will wait to sell at channel-highs as well as the resistance levels overhead.  We are keeping an eye on the range-expansions very closely!

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