3 Ways to Sell-SHORT on Tuesday | SchoolOfTrade Newsletter 08/04/14
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Today’s Newsletter: • Last Night: More winning trades cash-in from last week’s calls to sell short • Markets Today: low-volume, retracements off fresh lows • News for Tomorrow: Red-Star News in Asia and Europe • Trading Opportunities: Selling opportunities galore… but stay patient. Notes for Tonight’s Newsletter: Misc: • HUGE Profits last week selling-short on Crude Oil & Mini-Russell o 3 days of >100tick calls on our Newsletter • 2nd week of the month = few Red-Star News Events • Low-volume on a Summer-Monday today. • Geo-political news take center-stage this week without much economic news • Expecting a light week, only 3 weeks till kids go back to school in the US • Markets reacting to last Friday’s Non-Farm Payroll • Markets digesting the big collapse from last week, price-action retracing off fresh monthly lows. Gold: • Directional Bias = SHORT • Daily Chart: trading in the middle of the price wedge • Daily chart: support below @ 1265.8 • Sell-zone tested @ 1297.8, selling-short • Entry short should be before we test 1284.7 support • Profit-targets below @ 1281.0, 1275.5 and 1264.8 Crude Oil: • Directional Bias = SHORT • Daily Chart: testing support at 96.90 • Daily Chart: below 200ema, but watch for a ‘bounce’ and re-test of resistance at 99.56 • Market was ‘irrational last week’ so we stay patient early this week • Waiting for proper retracement so we can get back to selling-short. Mini-Russell: • Directional Bias = SHORT • Daily Chart: testing the lows of the range @ 1103.3 • Daily Chart: price-magnet @ 200ema above at 1129.4 • Seller’s targets hit last week, now waiting for retracements • Very close to getting our next entry triggered short, waiting/watching
Transcript of 3 Ways to Sell-SHORT on Tuesday | SchoolOfTrade Newsletter 08/04/14
