6 keys to summer profits | schooloftrade newsletter 08/06/14
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Don't be afraid to try something new. The ark was built by amateurs, and the Titanic was built by experts! -Anonymous Today’s Newsletter: • Markets Today: Crude Oil pushes lower, Gold and Mini-Russell try to push higher • News for Tomorrow: BIG news from Europe, Jobless Claims in the US • Trading Opportunities: Selling Crude Oil, Mini-Russell, and Gold Notes for Tonight’s Newsletter: Misc: • Today definitely felt like summer in the markets • Russia adds more troops to the border of Ukraine, Gold jumps on fear of increasing violence • Poor news from Europe holding-back US Equities • Crude Oil pushes lower, heads towards seller profit-targets • Mini-Russell trades sideways, tries to push higher, sellers waiting to sell @ highs • Gold jumps back to $1300 on geo-political fears in Middle East Gold: • Direction Bias = SHORT / NEUTRAL • Daily Chart: returns back to $1300, reacting on fear in the Middle East • 32-Anchor Chart: price jumps to the highs of the price channel • 32-Anchor Chart: still looking bearish, but sellers need to respond at price channel highs • 16-Anchor Chart: buying pullbacks are lower-percentage. Sellers, use these as profit-targets below. • Profit-targets below @ 1281.0, 1276.0, 1265.8 Crude Oil: • Direction Bias = SHORT • Daily Chart: moving lower, pushing into major support at price channel lows • 32-Anchor Chart: New lower-lows, headed towards profit-targets below us • Profit-targets below @ 96.46, 96.02, 95.44, 94.22 Mini-Russell: • Direction Bias = SHORT / NEUTRAL • Daily Chart: doji candlestick tells us we are ‘balanced’+ • Bullish Price-action was VERY weak this morning, suspicious of buyer strength • 32- Anchor Chart: trading sideways, still bearish, although buyers are trying • (Sellers) Profit-targets below @ trend-line support, 1103.3, 1089.6, 1083.7, 1071.3 • 16-Anchor Chart: new higher-highs with short-term buying opportunities @ 1118.8, 1116.1, 1112.4, 1110.1 • (Buyers) Profit-targets above @ 1131.3, 1137.8, 1145.9TRANSCRIPT
