Monday, April 6, 2015

Day Trading the Gap and Overshoot | SchoolOfTrade Day Trading Newsletter 04/06/15

“You gain strength, courage and confidence by every experience in which you stop to look fear in the face.”  - Eleanor Roosevelt

Notes for Tonight’s Newsletter:

Gold and Crude Oil are pushing higher after the holiday-weekend, but we have some easy clues telling us to expect prices to move LOWER before they attempt the next push higher… are you ready for this opportunity tomorrow?

Crude Oil had a nice bullish run after the holiday weekend but the overshoot of both bull-channel-highs will likely be too much to keep this price from moving back to the low even with volume confirming the highs this afternoon at the close.

Gold is coming off a gap-higher over the holiday weekend as traders reacted to the disappointing jobs report, and we know that most gaps get filled, and the undershoot of the channel-highs tell us to expect sellers to be eager to get short on Tuesday!

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