3 Ways to Sell-SHORT on Tuesday | SchoolOfTrade Newsletter 08/04/14

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