Wednesday, October 14, 2015

8 Trades for Thursday | Crude Oil, Gold, E-mini & Euro Futures 10/14/15

“Nobody can go back and start a new beginning, but anyone can start today and make a new ending.”

Notes for Tonight’s Newsletter:
Crude Oil is range-bound this evening, which means our plan will be to 'fade' the breakouts with failure patterns on Thursday.  We will be looking for seller-failures to buy the lows and buyer-failures to sell the highs of this range while keeping an eye on the '2-try-rule' for a possible breakaway from this range.

E-mini S&P is trending lower this evening which means we're using channel-rotation and measured-moves in tomorrow's session.  The best trades will come selling after a test of the highs of this channel and we will be looking for a measured-correction up into resistance overhead.

Gold is bullish with another spike & channel going into Thursday's session so we are looking again for a deep correction for the best opportunities.  Spike & channel tells us this market is strong, but we should wait for a measured-correction, possibly into volume-support before getting proof the buyers taking back control for the next leg higher.

Euro is bullish this evening so our plan is to look for measured-corrections to support, followed by proof of buyers for the next opportunity to follow this trend.  We will be watching the support zones listed below and after we get PROOF of the buyers taking control again we will use measured-moves and channel-rotations for targets on Thursday.

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