Tuesday, April 4, 2017

Trading with Trend Channels | SchoolOfTrade Newsletter 04/04/17

“Live life fully while you’re here. Experience everything. Take care of yourself and your friends. Have fun, be crazy, be weird. Go out and screw up! You’re going to anyway, so you might as well enjoy the process. Take the opportunity to learn from your mistakes; Find the cause of your problem and eliminate it. Don’t try to be perfect; just be an excellent example of being human.”

Crude Oil is bullish, but we’re trading at today’s high, directly into two (2) major resistance levels, which tells us to look for two (2) possible scenarios ahead of tomorrow’s Inventory Report.

S&P is bullish, and a triple measured-move, combined with a bull channel is giving us plenty of trading opportunities for Wednesday.

Gold is bearish, and the triangle on the chart is telling us exactly where to (and not to) be trading tomorrow.

Euro is bullish and trying to re-test yesterday’s high, and the big clue on the chart is telling us to beware chasing this move higher, and look for a fake-out breakout pullback tomorrow.

FDAX is bullish, and this narrow bull channel is telling us where to find the two most reliable trading opportunities tomorrow.

Crude Oil
Crude Oil is bullish, trading at the measured-move, at the high of a channel, ahead of tomorrow’s Inventory Report.   We don’t want to ‘buy high’ into these levels of resistance, so our plan is to wait for buying opportunities at the low of the channel, or look for a fake-out breakout pullback if price pushes higher ahead of tomorrow’s news release at 10:30am EST.

Crude Oil API Levels for Wednesday:  51.84, 51.57, 51.30, 51.03, 50.76, 50.49

E-Mini S&P
E-Mini S&P is bullish and trying to complete a triple measured-move and re-test yesterday’s high.  This bull channel is a big clue, telling us to use channel rotation to avoid ‘buying high’ and stay patient for trading opportunities down at the low tomorrow. 

Gold is bearish and trading inside a triangle as it tries to fill the gap left open from last night, and finish off a measured-move target waiting below.  This triangle is a big clue, and our plan is to trade it like a range; sell the high using traps and buyer-failures, and avoid trading at the lows until we see a successful breakout-pullback.

Euro is bullish and trading at the measured-move as it tries to re-test yesterday’s high.  The big clue on this chart is this recent deep pullback, which gave the buyers plenty of opportunity to ‘buy low’, which tells us to avoid buying now, and look for either a pullback into the ‘battle zone’, or a fake-out breakout pullback to new highs tomorrow.


FDAX is bullish and trying to make up for lost ground after yesterday’s collapse.  We have a bull channel telling us to look for traps below prior swings or a fake-out breakout pullback if price keep pushing higher tomorrow.  On the flip side, the sellers need to see a strong break lower, then hold a pullback to take control, and their target is back down to re-test today’s low.

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