Wednesday, April 8, 2015

2 Ways to SELL a Bear Market | SchoolOfTrade Day Trading Newsletter 04/08/15

“Success is not to be measured by the position someone has reached in life, but the obstacles he has overcome while trying to succeed.”  -Booker T. Washington

Notes for Tonight’s Newsletter:

Gold filled the gap-target, and Crude Oil collapsed $4.00 off Tuesday’s highs which gives us plenty of BIG CLUES going into Thursday’s session… are you ready?

Crude Oil is bearish this evening after moving $4.00 off the highs from Tuesday.  We see a bear-channel and a trading-range to work with, and our focus will be selling overhead resistance with a target of $50/barrel on Thursday.

Gold is bearish this evening after filling the 'holiday weekend gap' and re-testing the round-number of $1200/oz.  We have a bear-channel to work with and lots of resistance levels overhead that we will be looking for entry patterns to get short on Thursday.  $1200 makes an easy target for us so we're excited for another crack at the yellow metal tomorrow morning!

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