Archive
Monthly Archives: May 2011
May 21, 2011
- in Uncategorized by schooloftrade
automated trading system review
Hi Guys, We had a busy week of trading in our discretionary accounts this week, but let’s see how our automated trading system has been doing. The past two weeks have been most challenging for ANY auto trader because of some fundamental reasons in the markets. Bottom line, auto traders have a hard time anticipating […]
Continue reading May 20, 2011
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Big Round Numbers and Sideways Ranges for OPEX Friday
Markets are trading sideways this morning on lack of major news overnight out of Canada and Japan. The Dollar Index dropped overnight to test a key support level and headed right back up into its narrow trading range to bring commodity and equity markets right back into their sideways ranges as well. This morning we […]
Continue reading May 19, 2011
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Crude Bear Channel earned 60 ticks, and I almost missed it!
825am est We have crude oil futures rolling forward to the 07-11 contract. Be sure to follow the specific instructions on the blog regarding how to roll the crude oil forward. We open our 89-Range chart on CL 07-11 and we see some very important information. Price wedge and we are at the highs Sideways […]
Continue reading May 19, 2011
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Trade the News Market Internals Update
**Economic Data** – (RU) Russia Gold & Forex Reserve W/E May 13TH: 514.4B V $524.7B prior – (IN) India Primary Articles WPI w/e May 7th Y/Y: 10.9% v 12.0% prior; Food Articles WPI Y/Y: 7.5% v 7.7% prior – (NV) Netherlands Apr Unemployment Rate: 5.0% V 5.1%E – (TT) Taiwan Q1 GDP 6.6% v 6.2% […]
Continue reading May 19, 2011
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Dollar Index a leading Indicator?
– Why do we only see DOJI’s on TICK Charts? Why not Range charts? – Is the dollar a leading indicator? o It’s about as close as you can get – Can we buy the lows of the range overhead on crude oil? (99.65 up to 100.70) o WATCH the video on Sideways Markets day […]
Continue reading May 19, 2011
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Sideways Ranges show lack of direction and future opportunities on Crude Oil and Gold
Wednesday afternoon we got the Fed’s Meeting Minutes (report here) and it basically told us what we already know. The Fed intends to improve its monetary policy over the next few years, it will likely raise interests early in 2012 (if not sooner), and they said it will take ‘years for the balance sheet in […]
Continue reading May 19, 2011
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Three Clues from Crude Oil Futures before 1030 Inventories
We notice a triple threat today: People waiting for 1030am crude oil news People waiting for 2pm Meeting Minutes Crude Oil rollover is today/tomorrow 800am EST This is off our morning prep from this morning The Dollar inside the lows of a price wedge Gold is also in a very narrow price wedge Crude Oil […]
Continue reading May 18, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – 10:30 (EU) Sweden Central Bank Gov Ingves speaks at EU Conference in Brussels – 11:00 (US) Fed to purchase $1.5-2.5B in Notes/Bonds – 11:30 (BR) Brazil Mar Economic Activity Index M/M: No est v 0.3% prior; Y/Y: No est v 7.0% prior – 14:00 (US) Minutes of FOMC Meeting – 19:50 (JP) […]
Continue reading May 18, 2011
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Inside Trading Day vs. Outside Trading Day
– Inside vs. Outside Trading Days o Inside = trading inside the range from yesterday § Nothing has changed from one day to the next, so use the current trading ranges as your highs and lows § It may never leave the range § It may break the highs/lows of the prev day’s range and […]
Continue reading May 18, 2011
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Geithner speaks, Dollar drops, Crude and Gold POP off Tuesday’s Lows
We begin our day this morning looking at the Dollar index taking a plunge overnight after hearing Secretary Tim Geithner confirm that the US has “reached its debt level” and that focus will be on ‘lowering debt levels gradually” Traders will certainly be anxious to hear more from the Fed later today when they release […]
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