Wednesday, September 17, 2014

Morning Prep September 17, 2014

MARKETS TODAY

  • Index futures are trading flat this morning, indicating a sideways start to today's trading session.
  • Tensions in Iraq continue.
  • Tensions in Russia and Ukraine continue.
QUOTE OF THE DAY

"The awareness of our own strength makes us modest."

NEWS TODAY
  • MBA Mortgage Index
  • CPI
  • Core CPI
  • Current Account Balance
  • NAHB Housing Market Index
  • Crude Inventories
  • FOMC Rate Decision

CRUDE OIL
Crude Oil 60 Minute
  • This morning I am watching crude oil trade lower out of supply around the highs of its wedge. I am looking for price to push lower back to demand and its EMA around 92.75. I am looking for price to first test the daily pivot and VAL. I am going to be looking to short price today, but I am also going to be aware of the inventories number at 10:30am EST.





E-MINI RUSSELL
E-Mini Russell 60 Minute
  • This morning I am watching the Russell trade very sideways ahead of the FOMC rate decision. I am looking for price to move above or below the range and test supply or demand on both sides. Ideally, I am looking for a push lower to demand and then a big push higher back to the wedge highs. I am going to be staying out of this one until I see a trend define itself.



Thursday, September 11, 2014

Morning Prep September 11, 2014

MARKETS TODAY

  • Index futures are trading lower this morning, indicating a weaker start to today's trading session.
  • Tensions in Russia and Ukraine continue.
  • Tensions in Iraq continue.
  • Trader's remember the tragedy that happened 13 years ago today on 9/11/2001.
  • Crude oil pushes lower after a bearish inventories number yesterday.
QUOTE OF THE DAY

"No one knows what he can do until he tries."

NEWS TODAY
  • Initial Claims
  • Continuing Claims
  • Natural Gas Inventories
  • Treasury Budget
E-MINI RUSSELL
E-Mini Russell 60 Minute
  • This morning I am watching the Russell trade lower out of supply. I am looking for price to continue down to demand around 1153.2, before bouncing there. There are several key support levels below right now so I am going to be careful going short. Once price reaches the lows of the wedge, however, I will be looking for long opportunities. 








CRUDE OIL
Crude Oil 60 Minute
  • This morning I am watching oil trading out of demand around the lows of its price wedge. I am looking long back up to the MPL's. Oil has continues to fall over the past several trading sessions, but if price can hold above monthly support at 90.83, I think that there will be a big run back up to the highs of the wedge. 




Wednesday, September 10, 2014

Trading Supply and Demand Zones on E-Mini Russell Futures

Morning Prep September 10, 2014

MARKETS TODAY

  • Index futures are trading sideways this morning, indicating a mixed start to today's trading session.
  • Tensions in Iraq continue.
  • Tensions in Russia and Ukraine continue.
QUOTE OF THE DAY

"A lean compromise is better than a fat lawsuit."

NEWS TODAY
  • MBA Mortgage Index
  • Wholesale Inventories
  • Crude Inventories

E-MINI RUSSELL
E-Mini Russell 60 Minute
  • Right now I am watching the Russell trade off of the lows of the price wedge. Price action is very sideways this morning, so I am going to be waiting for a push above the range we are trading in before getting in long. There is no major support or resistance above or below at this time, so there may be a nice run if this market decides to trend today.






CRUDE OIL
Crude Oil 60 Minute
  • Right now I am watching oil trade in demand right around the lows of its price wedge. I am looking for price to test this area and then head back up to the highs. With crude inventories coming out today at 10:30am EST, I am going to be skeptical of any trending trades on oil today.



Tuesday, September 9, 2014

Morning Prep September 9, 2014

MARKETS TODAY

  • Index futures are trading lower this morning, indicating a weaker start to today's trading session.
  • Tensions in Ukraine and Russia continue.
  • Tension between Iraq and the U.S. continue.
QUOTE OF THE DAY

"Perfection itself is imperfection."

NEWS TODAY
  • JOLTS - Job Openings - 10:00am EST
E-MINI RUSSELL
E-Mini Russell 60 Minute
  • This morning I am watching the Russell trade lower down to supply and its value area low. I am looking for price to continue to trade in a tight wedge, before breaking out to the up or downside. I am going to be using the opening range this morning to look for buying and selling opportunities. If price continues to trade in that range I am going to stay out of the Russell.




CRUDE OIL
Crude Oil 60 Minute
  • Right now I am watching crude oil trading between supply and demand with a fairly big gap on either side. I am going to be using Fibonacci zones and pivot points to find a trend today, before looking to take price long or short. Oil has continued to trade lower over the past few weeks, so there may be a slight retracement.


Saturday, September 6, 2014

Trade Room Recap August 31 - September 6, 2014

SUMMARY
Trade Room Summary

  • This week we were fortunate enough to have another 100% win rate on 3 trades. All of our trades this week came on the Russell for a profit of over $1,500 trading 4 contracts. This week was a short week, with Monday being a holiday, but we were still able to make a solid profit. All of the trades we took this week can be seen below:





TRADE #1
Trade #1
  • Our first trade this week came on Tuesday on the Russell for a profit of $310. This trade was pretty much a scratch trade, we were looking to sell price down to the MPL's and beyond. Unfortunately, price came right down to our first target, and then pushed back up to stop us out. 





TRADE #2
Trade #2
  • Our second trade this week came on Wednesday on the Russell for a profit of $140. This trade was pretty much identical to our first trade. We were looking to sell price down to the MPL's and beyond. Price hit our first target and bounced, stopping us out. Price continued lower, but we already had our stop locked in fairly tight. 





TRADE #3
Trade #3
  • Our third and final trade this week came on Thursday on the Russell for a profit of $1120. We were looking to buy price above the MPL's for a breakout up to new highs, and that's exactly what we saw. Price hit our first target, but our stop was locked in tight enough that we still made a solid profit.






MONTHLY PROFIT

Monthly Cumulative Profit
  • Starting off the month with a solid trading week, we are sitting around $1,500 in cumulative profit so far this month. We are now on par to make around $6,000 this month. 









Thursday, September 4, 2014

Live Trade Room Recap September 4, 2014

Morning Prep September 4, 2014

Markets Today

  • Index futures are trading higher this morning, indicating a stronger start to today's trading session.
  • Crude inventories is scheduled to be released this morning at 11:00am EST.
  • Tensions in Russia and Ukraine continue.
Quote of The Day

"A thing well done is worth doing."

News Today

  • Challenger Job Cuts
  • ADP Employment Change
  • Initial Claims
  • Continuing Claims
  • Trade Balance
  • Productivity Rev.
  • Unit Labor Costs
  • ISM Services
  • Natural Gas Inventories
  • Crude Inventories

E-Mini Russell
E-Mini Russell 60 Minute
  • This morning I am watching the Russell trade out of demand around its wedge lows that were expanded yesterday. I am looking long today back up to the wedge highs and supply around 1185.6. The overall trend is still to the upside, so buying opportunities are going to be the highest probability.





Crude Oil
Crude Oil 60 Minute
  • This morning I am watching oil trade in a tight price wedge with a flat moving average. With the inventories number coming out this morning, I do not want to be in a trade until later on and even then, only if a trend has been defined. Price took back all of its losses in the overnight session, over 300 ticks. Price is more than likely going to consolidate before making another big move. 


Wednesday, September 3, 2014

Morning Prep September 3, 2014

Markets Today

  • Index futures are trading higher this morning, indicating a stronger start to today's trading session.
  • Traders are looking ahead to Friday's employment situation. 
  • Tensions in Russia and Ukraine continue. 
Quote of The Day

"Vows made in storms are forgotten in calm."

News Today

  • MBA Mortgage Index
  • Factory Orders
  • Fed's Beige Book
  • Auto Sales
  • Truck Sales

E-Mini Russell
E-Mini Russell 60 Minute
  • Right now I am watching the Russell trade off of its wedge highs. I am going to be looking short back to the MPL's before looking long again back up to new highs. The overall trend is still to the upside.




Crude Oil
Crude Oil 60 Minute
  • Right now I am watching crude oil trade back up after a huge sell off yesterday. I am waiting for price to come back up and test the half way back point before looking to sell back down. There are no major supply zones overhead so we may see another large move today.