Tuesday, February 28, 2017

3 News Trades for Wednesday | SchoolOfTrade Newsletter 02/28/17

“Don’t Be Too Timid and Squeamish About Your Actions. All Life Is an Experiment. The More Experiments You Make the Better.”

Crude Oil is bullish with a spike & channel, which tells us to watch the ‘battle zone’ closely tomorrow for a pullback.

S&P is bearish and we have two big clues telling us that sellers are looking to send price back down to re-test the lows tomorrow.

Gold is bearish, but a key double-bottom is telling us that we should be looking for traps above the highs, rather than trying to chase this move lower.

Euro is bearish, but one big clue on the chart tells us it’s most likely too late to sell now, and we should wait for a pullback into the ‘battle zone’ tomorrow.

FDAX is bullish and trying to finish a measured-move, but we have a major resistance level standing in the way, which may give the sellers the opportunity they have been waiting for.

Crude Oil
Crude Oil is bullish with a spike & channel this evening after news this afternoon reverses the bear trend and sent prices racing higher.  The spike & channel tells us to look for buying opportunities down in the ‘battle zone’ tomorrow for a re-test of the high and a possible measured-move.  However, any time we have news hit the market and change the trend we’re always suspicious to see if this move will be sustained.  

We also have the inventory report tomorrow, which is notorious for sending prices lower in a bull market ahead of the news, only to see prices rebound after the report is released at 10:30am EST, so we know that the market is bullish, and we want to buy low, but anything is possible so we have to keep an open mind going forward. 

API Levels for Wednesday 03/01: 54.36, 54.18, 54.00, 53.82, 53.64, 53.46

E-Mini S&P
E-Mini S&P is bearish with a spike & range this evening, which tells us to avoid the middle, and look for selling-opportunities using traps and failures above the high of the range.  We can see the buyers have tried twice to break higher, which is always an easy set-up for sellers to enter the market going back to the opposite side of the range.  

On the flip side, buyers may have opportunities to buy the lows with failures, but remember to focus on the sell side while the bears have control.

Gold is bearish with a spike & range this evening, and we know that selling at the low of a range is only acceptable after a strong break down, so our plan is to look for selling-opportunities up above the range high, or wait for some strength and look for the breakout-pullback down to a measured-move target tomorrow.

Euro is bearish, and this strong move lower tells us to stay patient and look for selling-opportunities up at the resistance levels waiting overhead.  Anytime we see a strong move like this, we know that sellers have control, we just don’t want to chase this move, so we’ll stay patient for the pullback with a target down to yesterday’s low and a pending measured-move.


FDAX is bullish with a spike & channel this evening, but a falling resistance trend-line is standing in the way, so our buyers will be looking for traps below the ‘battle zone’ or a successful breakout-pullback above the trend-line for a target up to the measured-move tomorrow.  

Any time we see a resistance trend-line in the way, we know the sellers have an opportunity to take control, and they can do so with a strong move lower and a successful breakout-pullback below the ‘battle zone’ for a target going back to the low tomorrow.

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