Wednesday, July 22, 2015

8 Trades for Thursday | Day Trading Crude Oil, Gold, E-mini & Euro Futures 07/22/15

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"The remarkable thing we have is a choice every day regarding the attitude we will embrace for that day. We cannot change our past... We cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude."

Notes for Tonight’s Newsletter:
We have some very strong trends in the market right now which means we will be looking for ‘failure’ opportunities on Thursday… are you ready?

Crude Oil is bearish and trading at the lows of the channel which means sellers need to stay patient for price to move higher off the lows into resistance levels above and buyers will be looking for seller-failures at these lows to buy the lows, especially in the $49.00 area.

E-mini S&P is bullish but price is still over-bought after the channel-overshoot which means buyers are staying patient to buy the lows of the bull-channel and sellers are using support levels to look for buyer-failure opportunities.

Gold is bearish and moving lower which means sellers will be looking for opportunities at resistance levels overhead watching closely for buyers failing around those levels.  Buyers can look for seller-failure at short-term resistance but need to be careful because this market feels HEAVY.

Euro is bearish and trading higher up off the lows of the bear-channel which means buyers can look for seller-failures at short-term resistance areas and sellers will be looking for opportunities up around major resistance levels above.

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