Thursday, September 26, 2013
Tuesday, September 10, 2013
09 10 13 Crude Oil Morning Prep; SchoolOfTrade Trader s Audio
No major news on the schedule today, which means all eyes and ears are on Syria. with the new proposal from Russia and the news from OPEC overnight we are looking to sell short with a target at 104.21 later in the session today. remember, tonight we have the API Inventories @ 430pm EST
Monday, September 9, 2013
09 09 13 Crude Oil Morning Prep; SchoolOfTrade Trader s Audio
We are expecting a sideways trading range this morning after seeing major support and resistance levels around us this morning on our anchor charts.
Friday, September 6, 2013
09 06 13 Crude Oil Morning Prep; SchoolOfTrade Trader s Audio
We NAILED that Crude Oil trade today! Easy money in the trade room!
Thursday, September 5, 2013
Wednesday, September 4, 2013
09 04 13 Crude Oil Morning Prep; SchoolOfTrade Trader s Audio
BIG News from overnight trading! Bullish news from the ECB, and a 90-Day Resolution on Syria from the US. Today is going to be a great opportunity to participate in the party!
Tuesday, September 3, 2013
Thursday, August 29, 2013
Crude Oil Day trading strategy; Morning Prep Screen to Floor 08/29/13
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| Crude Oil VIP Chart |
This morning we can see that price-action is trading on top
of the PLOD 109.11 with a very narrow overnight trading-range. We can see support zones below us at 108.90
and 106.99 on the 30-minute VIP Chart, along with resistance zones overhead at
110.42 and 111.46. It is a very big
concern this morning when we see the price-action on top of the PLOD with a
narrow trading-range coming out of London.
This tells us the market personality is lacking confidence to one side
or the other and we will need to be careful this morning until something
changes.
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| Crude Oil Anchor Chart 1 |
The 5400-tick anchor chart shows us lots of support zones
below us to use as we pull back off these fresh highs. We can see support levels at 108.90, 108.11,
107.87, 106.84, 106.99, 106.32 and 105.37.
As price tests these support levels we are looking for a price-reversal followed
by a buying opportunity with the Wave pattern.
If these support levels are broken, that shows signs of
selling-strength, we can look for a selling-opportunity below each support level,
but we know that buying with the long-term trend will provide the high-percentage-trades
we’re looking for this week.
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| Crude Oil Anchor Chart 2 |
We can see a lot more information on the 1800-tick chart
today. First, we recall the previous
highs at 108.74 and that reminds us that we are almost back below the range
highs from before the big move up earlier this week. This is a big clue for a possible collapse in
price-action today and tomorrow.
Remember, whenever we see a big POP, we often see a big DROP a few days
later, so we will certainly be looking out for that today.
We can see a multi-level support zone below us at 108.90 and
108.87, with a very strong trend-line right below it. We can easily see that selling short at this
area is going to be a challenge, so we will be careful not to sell directly
into the support zone below, rather we will wait for price-action to move below
the 107.95 and then look for selling-opportunities down to 106.99.
Look closely at the trend-line resistance on the 1800-tick
chart and remember too that if we decide to get long this morning we will need
to trade around that trend-line. The
best plan is to wait for a breakout above the 110.85 area so we clear both the trend-line
and the swing-high above it. Look for a wave-pattern-long
if we can get above the 110.85 area today and use the 111.46 and 112.24 as your
profit-targets on the trade.
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| Crude Oil PIT Session Levels |
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| Natural Gas Inventories News |
Wednesday, August 28, 2013
Crude Oil Day trading strategy; Screen to Floor Morning Prep 08/28/13
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| Crude Oil Inventories News |
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| Crude Oil PIT Direction |
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| Crude Oil News Today |
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| Crude Oil PIT Levels |
Crude Oil has been on a wild ride over the last 24-hours. News from Syria has caused traders to speculate that supply of Crude Oil may be disrupted if a war breaks out over the use of chemical weapons by the Syrian Government. As of this morning we are still waiting to hear more about what’s going to happen, and we will be keeping our eyes and ears open as we continue to hear more ‘chatter’ coming from the news feeds.
One thing is for
certain today, we must be careful. Days like these come
around a few times each year, and when there are fundamentals that are causing price-action
to behave out of the normal we need to recognize that as both an opportunity to
make profit but also an opportunity to get ourselves into trouble if we cant
keep our emotions under control and follow our trading plan.
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| Crude Oil Anchor Chart 1 |
We can see price-action tested the 112.00 big-round-number overnight
as traders in Asia and Europe got a chance to react to the news from Syria as
well. During the US session on Tuesday
we saw tremendous strength to the upside, and that continued overnight before
price collapsed and came back down to the 109.00 area ahead of the opening bell
here in the US.
The 5400-tick Anchor Chart shows us support levels below us
at 108.90, 107.87, 106.84 and 105.37. We
will use these levels today for profit-targets if we sell short, and locations
for a possible price-reversal and a buying opportunity later in the morning.
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| Crude Oil Anchor Chart 2 |
The 1800-tick anchor chart shows us a lot more details this
morning, with support zones below us at 110.10 and 108.91, which we will use
for buying opportunities if price decides to reverse and go higher. Furthermore, if we see a collapse below the
108.74 prior-month highs we will then be looking for selling-opportunities because
the buyers will have failed to keep price-action above that previous resistance.
Keep an eye on this 108.74 area today; if we
move below this level we sell short, and if the buyers test this level and then
push higher we are buying long. The
biggest concern we have today is trying to trade if price-action gets ‘stuck in
the mud’ around the 108.74.
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| Crude Oil 30-Minute VIP |
Our 30-minute anchor chart shows us trading in the middle of
the range from yesterday, with support zones below us at 108.90 and
106.90. We see a VERY wide trading-range
coming out of London/Overnight, so that tells us to expect a wide trading-range
on the morning session today. With news
coming out from Syria every few moments this morning we can easily see how that
can happen.
Tuesday, August 27, 2013
Crude Oil Day trading strategy; Screen to Floor Morning Prep
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| Crude Oil News |
Crude Oil is moving higher this morning after news was
released on Monday afternoon about a civil
war in Syria disrupting supply channels to the US. The big concern this morning is that US, and
other nations, will attempt a military strike on Syria, and that may affect
other oil-producing nations around the world.
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| Crude Oil PIT Levels |
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| Crude Oil PIT Direction |
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| Crude Oil anchor 1 |
We begin with our anchor chart this morning and we see that price-action
has tested the sell zone at 107.44 and is now looking to break to new highs
above the bear price-channel. It is very
clear that this news from the middle is affecting the price of Crude Oil this morning;
the big question now is ‘how far will it go’?
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| Crude Oil Anchor 2 |
We have identified resistance overhead
at 107.95, 108.63 and 109.55 to use as profit-targets this morning for the
buyers.
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| Crude Oil 30-Minute Chart |
We are trading above the PHOD this morning on the 30-minute
VIP Chart of Crude Oil, above the previous week’s highs and headed to the
107.95 swing-high resistance overhead. Again,
we know WHY this is happening, but the big question today will be where it
wants to go and when it will get there.
Will this rally continue with this type of strength? Most likely not, but we will be watching.
Monday, August 26, 2013
Crude Oil Day trading strategy; Screen to Floor Morning Prep 08/26/13
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| Crude Oil News |
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| Crude Oil 30-Minute VIP Chart |
We will look to sell short below the PHOD and
take a profit-target at the PLOD later this morning. We can also see 2 trend-lines that create the
price-wedge on this chart, and we will use the trend-line support below us as a
partial profit-target on our short-selling from the highs. Our goal is to sell the highs and take profit
at the lows this morning.
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| Crude Oil Anchor Chart 1 |
Our 5400-tick anchor chart shows us price-action has recently
tested the highs of the bear price-channel along with the sell-zone at
107.00. This resistance has clearly held
strongly at the highs, and we will be looking for price-action to either
re-test the highs again or fall lower to the next level of support below us
around 105.44. We will be looking for selling-opportunities
down to profit-targets at 105.44, 104.98, and 104.53 this morning. We will need to be very patient trying to buy
into the highs around 107.00 because this is considered major resistance
today. We will be looking for selling-opportunities
at these highs this morning.
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| Crude Oil Anchor Chart 2 |
Our second Anchor chart, the 1800-tick, shows us much of the
same price-action this morning. We can
see resistance at 107.00 and we have short term support at 105.84 and 105.47
for a profit-target with our selling-opportunities this morning. We want to
sell short down to 105.84 for our first opportunity to sell this morning. If price-action can drop down to the support zones
below us at 105.84 and 104.96 we will then consider buying opportunities if the
market personality confirms later in the day.
Friday, August 23, 2013
Crude Oil Day trading strategy; Morning Prep 08/23/13
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| Crude Oil News Today |
Crude Oil looks bullish this morning, trading at the PHOD on
the 30-minute VIP chart. All signs point
to higher prices this morning on the half-hour chart with a support trend-line,
the PHOD, and a long term price-wedge.
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| Crude Oil 30-Minute VIP |
We can see the PHOD above us at 106.97 as a home-run target for the
buyers this morning. The most important
price level will be the PHOD from Thursday at 105.43. If we start moving higher above the 105.43 we
will start buying pullbacks with a final target up at 106.97.
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| Crude Oil Anchor 1 |
The 5400-tick anchor chart shows us trading in the middle of
the long term bear price-channel, with major resistance zones overhead at
105.73 and 107.00. we will look for price-action
to move higher to test the 105.73, which will put us above the PHOD we
mentioned previously.
One thing is very
clear on the anchor chart; we are NOT testing any major support and resistance levels
at this time, so we do not have enough information yet to make any final
trading decisions. Let’s look at the
faster anchor chart.
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| Crude Oil Anchor 2 |
Our faster anchor chart, the 1800-tick, shows us a new short
term bear price-channel, along with a resistance zone directly overhead at
105.24 up to 105.64. We are selling the
highs of this price-channel at this resistance zone because the price-channel tells
us to sell short for the high-percentage-trades in this scenario.
We recall that the 30-minute VIP chart looked very bullish,
which means we are going to sell short while keeping an eye on the price-reversal
and the push higher. If we start to see
the sellers fail, and if the buyers start showing control over price-action at
the highs of this price-channel we are going to have a decision to make.
We will be watching for market personality around
these highs to see if the buyers or sellers are going to take control today.
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| Crude Oil Entry |
The Entry chart time frame, the 600-tick, shows us a bull price-channel,
lending credibility to the bullish price-action we saw on the 30-minute
chart. This chart shows us where to look
for profit-targets on our short-selling.
We can see profit-targets at 104.79, 104.63, along with the lows of the
bull price-channel.
Thursday, August 22, 2013
Crude Oil Day trading strategy; Morning Prep 08/22/13
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| Crude Oil News |
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| Crude Oil Anchor Chart 1 |
Crude Oil jumped higher overnight after testing the 103.50 area
late in the day on Wednesday. This
morning we find Crude Oil trading inside the zone from 104.99 down to 104.29
and we will be looking for additional clues this morning to tell us whether
this price-action is going to go higher up to resistance at 105.24, or if it
will drop lower and reach the 103.30 support.
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| Crude Oil 30-Min VIP Chart |
Our 30-minute VIP chart shows us that price-action has been
moving higher off the PLOD since early in the overnight session. We can see the PLOD at 103.50 and the PHOD from
Wednesday up at 105.14. We know that price-action
will most likely be trying to test the PHOD, so we will be using that as a
directional clue this morning.
We can also see a price-wedge on the 30-minute chart which
may be trouble for the buyers this morning.
As price is rising higher off the PLOD it may be stalled-out at the highs
of the price-wedge when it runs into the trend-line resistance around
104.60. We will be watching the market
personality very closely around the highs of the price-wedge this morning because
we need to anticipate the sideways-trading-range if it develops.
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| Crude Oil Anchor Chart 2 |
Our 2nd anchor chart, the 1800-tick, shows us
moving lower in a short term bear price-channel while moving through the support
zone at 104.99 to 104.29. Now we have price-action
jumping back higher this morning and we have defined resistance zones overhead
at 105.24 and 106.23, which we will use for a profit-target for the buyers and
a selling-opportunity for the sellers today.
The long-term trend appears to be bearish with the price-channel and the
red-cloud so we will be looking for selling-opportunities as the high-percentage-trades
this morning, and those selling-opportunities will most likely occur at 105.24,
105.64, 106.23 or 106.57.
Our day trading plan today will be to follow the trend on our
anchor charts. We can see that early in
the session we will most likely have a bullish market sentiment because of the
jump higher overnight, while in the long-term we expect to see the price-action
turn around and move lower. When the
trend changes to bearish again later this morning we will be looking forward to
selling short using the long-term trend and the bear price-channel on the
anchor chart.
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Wednesday, August 21, 2013
Crude Oil Day trading strategy; Screen to Floor Morning Prep 08/21/13
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| Crude Oil Inventories News |
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| Crude Oil PIT Direction |
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| Crude Oil PIT Levels |
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| Crude Oil News Today |
Crude Oil has been trading lower this week, and last night the selling pressure continued on the 10-13 contract to push it below the big-round-number of 105.00.
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| Crude Oil Anchor Chart 1 |
This morning we see two support zones on the 5400-tick anchor
chart at 104.99 and 103.30 below us.
These support zones will be keys to our success today because we will
avoid selling short into these zones, and once we get into a short position we
will use them as profit-targets on the way down to the lows at 102.00.
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| Crude Oil Anchor Chart 2 |
The 1800-tick anchor chart shows us trading lower, towards
the bottom of the bear price-channel, and into the support zone from 104.99
down to 104.29. We can clearly see the
bears are in control of this price-action in the long term right now, and we
will be looking for selling-opportunities this morning as long as they do not
sell directly into the support levels marked below. We will wait for the support level to be
broken and then we will look for the wave-pattern-short to get into the trade.
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| Crude Oil 30-Minute Chart |
We can see the previous trading-ranges on the 30-minute
chart, which provides many clues we will use this morning. We can see price-action is trading at the PLOD
from Tuesday, and with the failure below the PLOD we can expect the buyers to
try to push this price-action higher today.
This will be very interesting to see if the buyers can wrestle control
away from the sellers early in the session today.
If we see the sellers fail and the buyers take control above
the PLOD we will begin looking for buying opportunities this morning, however,
if the sellers are too strong we will begin selling once again below the PLOD down
to the next profit-target at 103.43 and 102.03 below us.
Tuesday, August 20, 2013
Crude Oil Day trading strategy; Screen to Floor Morning Prep 08/20/13
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| Crude Oil News |
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| PIT Session Direction |
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| PIT Session Levels |
2013 Members Summit & Trading Seminar
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| Crude Oil 30-Minute |
We can see price-action trading below the PLOD this morning
on the 30-minute VIP Chart of Crude Oil Futures. This is a big clue for us because it suggests
the sellers are strong enough to push prices to new lower-lows and we will be
watching closely to see if that trend continues lower, or if we get a price-reversal
back above the PLOD we will buy with the Wave pattern using our InsideOut
Set-up.
Notice the PLOD below us at 105.60 will make an easy profit-target
as well as a location for a high-percentage buying opportunity.
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| Crude Oil Anchor Chart 1 |
Crude Oil is trading lower this morning after testing major resistance
at 107.41 on our 5400-tick anchor chart.
We can see that price-action has ‘pierced’ the support zone below us at
106.30 and attempting to test the lows of that zone at 105.52.
The most important clues we get from this anchor chart #1 is
that we are coming off the highs of the bear price-channel, which tells us the
sellers are in control in the short term.
We also want to keep a close eye on these support levels below us today because
they will be ideal locations for a profit-target and/or a price-reversal trade
later in the day.
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| Crude Oil Anchor Chart 2 |
The 1800-tick anchor chart shows us a lot more information
this morning. We can see the short term
bullish price-channel has come into play and we’ve tested the lows of this price-channel
with a recent candlestick that shows signs of the lows holding strong. You can see the big ‘wick’ on the most recent
candlestick shows that the sellers did indeed try to move lower but the buyers
were able to fight that off easily.
The most important clue we see on the Anchor chart #2 is the
new bull price-channel, telling us to buy at these lows as soon as we start
heading higher this morning. We also
need to keep an eye on the support zones below us because those will make for
excellent profit-targets and locations for a price-reversal trade.
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| Crude Oil Entry Chart |
The 600-tick anchor chart shows us the same bull price-channel,
however, now we are able to see where the resistance zones appear
overhead. We will keep a close eye on
those resistance zones above us for profit-targets after we buy-the-lows of the
bull price-channel.
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