“Only by contending with challenges that seem to be beyond your strength to handle at the moment you can grow more surely toward the stars.”
Notes for Tonight’s Newsletter:
This volatility is giving us some incredible trading opportunities this week, but we need to be ready for tomorrow’s FOMC Announcement and Crude Oil Inventories… do you have a plan?
Crude Oil is bearish and 'rotating' off the highs of the bear-channel which means sellers are looking for 'bull-traps' at support levels as we go lower as well as if we try to make a run at new weekly highs ahead of the Inventory report morning.
E-mini S&P is bullish after consecutive sessions in the 'red' which means sellers will be looking for buyer-failure to sell back to the recent lows, and buyers need stay patient for the next deep pullback.
Gold is trading sideways within a bearish trend, and with less than 24hrs from the FOMC announcement our best strategy will be to buy the lows and sell the highs of the short-term range using reversals and failures.
Euro just pulled-back to the lows of short-term bull-channel, and with the BEARISH long-term-trend we will be looking for buyers to fail at these lows for easy selling opportunities going with the trend.
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