3 clues the trend may be over | schooloftrade newsletter 08/05/14
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Don't lower your expectations to meet your performance. Raise your level of performance to meet your expectations. Expect the best of yourself, and then do what is necessary to make it a reality. -Ralph Marston Today’s Newsletter: • Last Night: More winning trade-calls! Crude Oil and Gold • Markets Today: All markets moving lower… but will it last? • News for Tomorrow: Red-Star News in Europe and US Session, Crude Oil Inventories • Trading Opportunities: Selling Crude Oil, Waiting on Gold and Mini-Russell • Click here to register for our FREE Trial • Join our Live Trade Room as a GUEST here Notes for Tonight’s Newsletter: Misc: • Gold Trade-Call: Short @ 1294.0, Profit-target at 1284.7 (winner) • Crude Oil Trade-Call: Short @ 99.47, Profit-target at Lows (winner) • Red-Star News in Europe and US sessions tomorrow • Geo-political news still remains a big concern for the markets • Markets appeared to be ‘exhausted’ today, we are watching the market-personality and price-action closely ahead of Wednesday’s session Gold: • Direction Bias = SHORT / Neutral • Daily Chart: trading in the middle of the range, pushing lower • Daily Chart: support at the lows of the price wedge @ 1265.8 • 16-Anchor Chart: short-term price wedge with bearish bias • Profit-targets below @ 1281.0, 1274.5, 1267.9 Crude Oil: • Direction Bias = SHORT • Daily Chart: testing major support at price channel lows @ 97.12 • Entry short triggered today @ 8am @ 98.47 • Re-Entry opportunities @ 97.84, 98.03, 98.31 and 98.48 • Profit-targets @ 95.92 and 95.17 Mini-Russell: • Direction Bias = SHORT / Neutral • Daily Chart: doji candle, balanced session near the range lows and support @ 1103.3 • 32-Anchor Chart: trading sideways with bias to the short-side • 16-Anchor chart: trading sideways, waiting for new lower-lows below 1110.4 for more entries short down to 1103.1 and lows of the price channel. • Profit-targets @ 1103.3, 1101.5, 1089.6 and 1084.6TRANSCRIPT
