Thursday, March 16, 2017

Quadruple Witching Trading Strategy | SchoolOfTrade Newsletter 03/16/17



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Crude Oil is bearish, and this trading-range, combined with three (3) levels of support below us, tell us the best option will be traps tomorrow.

S&P is bearish, and a spike & range is giving us plenty of trading opportunities tomorrow, but we’re sitting on a BIG support level ahead of Quad-Witching, so we will be staying patient.

Gold is bearish after hitting the FOMC target from last night’s newsletter, but we’re sitting at support, which tells us to be watching for two (2) scenarios tomorrow.

Euro is bullish, but we’re reached the target I gave on last night’s newsletter, and the trading-range earlier in the session tells us the next pullback is going to be very important for both sides of the market.

FDAX is bearish, but we have three (3) clues on the chart this evening, telling us tomorrow might be a very sloppy session, and to stay patient for traps.

We’re ready to wrap-up an amazing week in our trade room and our newsletter with a strategy for trading tomorrow’s Quadruple Witching.  


Crude Oil
Crude Oil is bearish with a spike & range this evening, which tells us to look for selling-opportunities up above the range.  If price tries to breakout lower, we don’t want to chase the move, rather our plan is to look for a successful breakout-pullback below the ‘No Trade Zone’ with a target at the prior week low (which will act a price-magnet on Friday, and a runner at the measured-move tomorrow.

E-Mini S&P
E-Mini S&P is bearish and trading at the high of a spike & range, right on top of the previous week high.  First of all, we know that Friday’s are notorious for gravitating back to the previous week highs and lows.  Second, when it comes to the range, we know that selling above the highs will be the most reliable, or we look for a fake-out breakout pullback below the lows tomorrow.  One thing to remember, tomorrow is Quadruple Witching, which will typically have a big impact on equities, and we anticipate volume to be light, but as always, we will trade what we see tomorrow morning.

Gold
Gold is bearish and trying to re-test today’s lows after the bulls completed a beautiful spike & channel to finish off the FOMC target from last night’s newsletter.  There’s a LOT going on with the chart; the sellers had a strong move off the highs, they got the correction they needed to ‘sell high’, and they just finished re-testing the low.  With price back at the mid-term lows, how we wait and see if they want to keep pushing lower to the measured-move, or if they want to use that resistance trend-line waiting overhead to ‘sell high’ tomorrow.

Euro
Euro is bullish and trading at the FOMC target from last night’s newsletter.  This move higher is very strong, which tells us to be looking for a possible spike & range up at these highs, but the way the market set-up in a trading-range also gives us a big clue that the buyers may have a challenging holding this price higher, and we may see price collapse back into the range we came from.  The key is going to be in the next pullback off the highs.

FDAX

FDAX is bearish, but trading inside a range, consisting of the prior week high, Double-Down, triple-down and measured-move levels.  The bears have control, so our plan is to look for selling-opportunities up above the high of the range, with a target going back to the previous week high, with a runner down at the 12,000-round number.  If price tries to breakout lower, our plan is to look for a fake-out breakout pullback below the triple-down, avoiding the temptation to chase the move lower, and looking for buyers to get caught trying to fade the move.

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