This weekly feature examines chart formations, along with technical indicators, of two to three commodity markets. Breakouts of these formations may lead to trading recommendations published by the Trade Spotlight advisory service.
In our “Get to Know Your Broker” article series, Tony Kasathsko discusses his background, strengths, trading views, hobbies and more!
The Taylor Trading Technique seeks to identify market actions (moves) and then anticipate likely reactions in the opposite direction. The past two sessions in the soybean futures have been a good example of the action – reaction cycle.
In this morning’s watch list for Swing Trader’s Insight I commented that a rally above yesterday’s high could see follow through. This turned out to be a good trade opportunity; let’s take a look at it.
A large percentage of traders tend to do the wrong thing at the wrong time- emotion gets them to buy at the highs and sell at the lows. The Taylor Trading Technique seeks to anticipate and profit from situations where emotional trading is likely to occur. This gave us a good trade opportunity in crude oil today.
One week before one of the bigger weeks in the markets as far as new data goes. Set your clocks for next Tuesday at 11 am, we will get fundamental data that can make or break the trend for the next few months.
What a spectacular week we have had! Gold is currently sitting at $1,179.10 (Q5) per troy oz. about $5.00 higher than last Friday; however still under critical support ($1,200) so I remain bearish at the current moment in time.
I think Soybeans is going to be one of the most interesting markets to follow and trade in the next 12 to 18 months. While many nations across the globe grow both corn and wheat, a massive majority of all soybeans are grown only in the US, Brazil, and Argentina.
Second week of grain trading in June is upon us. Can you feel that? Yeah, this is what a weather rally feels like.
I have just 3 markets today. Crude and Gold both look promising but I would prefer to watch them for another day or so.