Monday, January 11, 2016

6 Trades for Tuesday | Crude Oil, Gold, E-mini & Euro Futures 01/11/16

“Learn how to separate the majors and the minors. A lot of people don’t succeed because they major in the minor things.”

Notes for Tonight’s Newsletter:
Crude Oil is bearish this evening but with 3 pushes lower in today's session we expect sellers to take profit at these lows so our most reliable selling opportunity will come after a bullish correction up off the lows.  The ideal scenario is to see price push higher and then fail to hold the pullback so we can sell into the buyers' stop-losses tomorrow morning.  keep an eye on the short-term trading range we see at the bottom of the chart and look for bull-traps near the highs.  buyers can look for sellers to fail at the range-lows for the best opportunities to buy these lows tomorrow.

E-mini S&P is range-bound with a bear-bias this evening and rotating higher after testing the low of the range which tells us to wait for a test of range-highs and then look for buyers to fail so we can sell the highs.  We will be focused on range-rotation, the 2-try-rule, and failure patterns until we see the range break-down and a trend develop tomorrow.  The most important thing to remember will be to let the buyers try twice at the highs and then sell into their stops!

Gold is bearish as it tries to test Friday’s low with a bear-channel, and we can see a range-undershoot telling us to expect price to try to push all the way down the measured-move but we need to be careful at the range lows before we get there.  If you look back at last Friday, you can see buyers failed to re-test the range high at 1113.2 which is seen as weakness and the only thing standing in the way of a measured-move target is the low of the range at 1092.0.

Euro is bearish with a spike & channel on the first day of trading with the new tick-format, telling us to look for selling opportunities at resistance levels overhead on the way to completing the measured-move target around Friday's low.  We started the week trading with 1 additional decimal plan on the Euro futures and volume was very light as a result.  We had a strong push lower that turned into a spike & channel with possible major bear-channel telling us to look for selling opportunities at resistance overhead as well as the easy-money being made selling into failed pullbacks as the bulls try and fail to pick a bottom.

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