My 5% Trading Strategy | SchoolOfTrade Newsletter 03/08/17
Crude Oil had quite the session today, running 5% lower and ending just above $50 a barrel. A runaway session like this tells us to be looking for a correction or a trading-range tomorrow, and we will be using the moving-average to look for confirmation. S&P is bearish and trying to finish a move down to last week’s low, but we have a key support trend-line standing in the way, which tells the sellers to watching the ‘battle zone’ tomorrow. Gold is bearish after a beautiful trap-high, but sitting at the lows of the range tells us to look for a correction or continuation tomorrow, we’re just waiting for proof. Euro is bearish after a picture-perfect selling-opportunity for the bears today, but now we’re sitting at the range lows and waiting to see if the sellers want to go lower, if we get another round of selling-opportunities up at the highs tomorrow. FDAX is still trading inside a range, and our strategy of selling the highs and buying the lows will continue tomorrow.
