Monday, February 13, 2017

Trading a Runaway Market | SchoolOfTrade Newsletter 02/13/17

“It Doesn’t Matter Where You Came From. All That Matters Is Where You Are Going.”

Crude Oil is bearish, and a triple-bottom to finish the session today tells us exactly where to look for the best selling-opportunities, and where to beware of traps tomorrow.

E-Mini S&P is bullish, and we’re watching two specific trend-lines to help us find the most reliable buying opportunities tomorrow.

Gold is bearish, but the way this market reacted over lunch tells us to be watching the moving-average closely for confirmation of where we’re going next.

Euro was mighty bearish today, but the end of the session left us with some important clues, telling us where (and where not) to be looking for selling-opportunities tomorrow.

FDAX is bullish, and we’re using a flag pattern on the chart to tell us where to avoid the losses and find the winners tomorrow.

Crude Oil
Crude Oil is bearish and finished today’s session inside a range, right at the low of the session.  The trading-range is a big clue, telling us the most reliable selling-opportunities will come up above the highs, and to beware selling a breakout to the lows because of two major support levels.   One thing to keep an eye on tomorrow is the volume rollover between the 03-17 and 04-17 contract.  We will make the move when the volume is higher on the 04-17.

E-Mini S&P
E-Mini S&P is bullish, but after such a strong move higher today we can assume that a lot of buyers aren't willing to buy the high, so we know the most reliable buying opportunities will come after a deeper pullback to levels of support, such as the low of the channel or the ‘battle zone’ tomorrow for a run up to re-test the high and possibly a run to the measured-move.

Gold is bearish, and you can tell by the way market ‘bounced’ off the previous low that sellers weren’t too happy to be selling that low.  Now that price is much higher, the next pullback to the moving-average is most likely going to tell us exactly where we’re headed next.  The bears are looking for the bulls to fail on the pullback so they can sell it back down to the low, but if the bulls can hold into this falling resistance, we will likely see a short-covering rally that will send prices all the way up to fill the overnight gap at 34.7.

Euro is bearish, but the session finished with a triangle (range) which tells us to beware selling into the low, and keep our eyes open for a move back up in the ‘battle zone’ for the most reliable selling-opportunities back down to re-test the low tomorrow.


FDAX is bullish, but today’s aggressive move higher most likely left a lot of buyers waiting for their opportunity to buy a pullback.  We’re staying patient for buying opportunities at support levels, such as the low of the bear channel (flag), the previous swing-low at 57.5, and in the ‘battle zone’ tomorrow with a target going back up to re-test the high.

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