Hey Trader,
The Value of Understanding in Your Trading Journey
As you continue to navigate the intricacies of the trading world, I wanted to share a verse that highlights the importance of seeking knowledge and understanding:
"Fools find no pleasure in understanding but delight in airing their own opinions."
Proverbs 18:2
In the fast-paced environment of trading, it's easy to get caught up in the noise and opinions that surround us.
This verse reminds us that true wisdom comes from a genuine desire to understand rather than simply voicing our own thoughts.
Successful trading is built on thorough research, careful analysis, and a willingness to learn from both successes and setbacks.
Let this verse inspire you to prioritize understanding in your trading journey.
By focusing on gaining deep insights and knowledge, you will be better equipped to make informed decisions and navigate the markets with confidence.
Remember, the pursuit of understanding is a continuous journey that sets apart the wise from the foolish. Wishing you success and clarity in all your trading endeavors!
Be Relentless In Pursuit Of The Will
Which God Has Set Upon Your Heart,
Anthony Speciale
Daily LIVE Futures Analysis Room Recap + My Personal Trades: 7/10/24
Anthony here from Speciale Analysis. I hope everyone is having a wonderful day.
In today's video, I want to talk about our live trading session this morning and my personal trades this afternoon.
Let's dive into the key insights and strategies that can help you enhance your trading skills.
Morning Session Insights
We kicked off our session at 8:00 a.m. with a keen eye on the market, anticipating Fed Chair Powell's speech at 10:00 a.m.
Although we expected most of his key points to have been addressed the previous day, we remained alert.
Additionally, we had the 10:30 a.m. crude oil inventory report on our radar.
Our discussion this morning centered on structuring your trading approach.
It's essential to have a clear, disciplined strategy. I always emphasize trading with the trend, especially for those new to trading.
This approach is inspired by the famous Turtle Traders study, where a group of novice traders achieved significant success by strictly trading with the trend.
Gold Analysis
This morning, we analyzed the gold futures market.
We identified a prior high breakout with two-time frame momentum, where the price stayed above our fast-moving averages and both VWAPs.
I advised that if the low of a specific candle held during the correction, we could see another upward push.
Indeed, we saw strong follow-through.
However, when a wide bar printed, indicating a potential steeper correction if the price couldn't close above it, my prediction came true based on years of market observation.
NASDAQ and S&P 500 Insights
We also examined the NASDAQ and the S&P 500. At 8:00 a.m., we discussed a critical level in the NASDAQ.
I suggested that if we found support at this level, we could see a move higher into the next pivot. This happened precisely as anticipated, resulting in a 50-tick move.
For the S&P 500, the market followed a similar pattern. We broke a prior high, held the fast-moving averages, and continued to climb.
Following the trend delivered substantial gains, with the market providing clear opportunities for those who adhered to the trading plan.
Importance of Trading with the Trend
The key takeaway here is the importance of trading with the trend.
It's a straightforward yet powerful strategy that can significantly improve your success rate.
I provide my traders with a clear checklist to follow, emphasizing the importance of patience, discipline, and consistency. All they have to do is make it their own...
Afternoon Trade: Crude Oil
In the afternoon, crude oil presented an excellent trading opportunity.
Following the inventory report, crude oil trended higher with two-time frame momentum.
I closely monitored a higher time frame resistance at $82.42. When a specific candle printed at 11:55 a.m., I believed it indicated a potential high, whether temporary or for the session. At 12:15 p.m., I reiterated my belief LIVE that the high had been placed.
We saw a break below $82.30, a retest, and a subsequent move lower toward $81.80.
This 50-tick move in about 30 minutes was a textbook reversal trade.
Execution and Risk Management
I managed my crude oil trade by adding to my position as the market moved in my favor. This strategy, while advanced, allowed me to maximize my profits. However, the key point for all traders is to focus on the ideal entry point and manage risk effectively.
Today's session demonstrated the power of trading with the trend and following a disciplined approach.
Whether you're trading the NASDAQ, S&P 500, Gold or Crude Oil, adhering to a well-defined plan and being patient can lead to significant rewards.
If you find value in these insights and want to take your trading to the next level, I encourage you to watch our latest video.
Join us live every morning from 8:00 a.m. to 11:00 a.m. EST for futures market analysis, interpretation and expectations.
Additionally, you’ll get access to professional analysis, interpretation and expectations - across various markets, including stocks, futures, forex, and cryptocurrencies.
To access The Speciale Analysis Experience, follow the link below. You’ll gain a wealth of trading resources and become part of a community dedicated to trading excellence.
Remember, trading is a journey, and continuous learning and improvement are vital. I’m here to support you in building a successful trading career.
For those interested in deeper insights and real-time analysis, I provide daily interpretations and expectations for the NASDAQ, crude oil, S&P 500, and gold futures.
My goal is to share my 13+ years of experience, helping you by providing analysis, interpretation and expectation that align with your personal trading plan.
If you’re interested in learning more or have questions, feel free to reach out. I offer personalized consultations to ensure we're on the same page before you join.
Stay informed, stay focused and stay disciplined!
Thank you for reading, and I look forward to seeing you in our next session.
God bless, and have a wonderful day!
If you have any questions or need further guidance, please don't hesitate . . . info@specialeanalysis.com May the markets be ever in your favor!
Happy Trading,
Speciale Analysis
About the Author:
Anthony Speciale is a seasoned market analyst with over 13 years of experience trading. Through his platform, Speciale Analysis, he offers in-depth market analysis, interpretation, and expectations designed to help all types of traders, at every skill levels reach their full potential.
Analysis, Interpretation & Expectations
Day, Swing & Position Trade Analysis
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NOTE: Trading involves significant risk, and it's essential to approach it with a well-defined strategy and a disciplined mindset. This blog post is intended for educational purposes and should not be considered financial advice. Always conduct your own research and consult with a professional before making an financial decisions. For further risk related information, please refer to: www.specialeanalysis.com/disclaimer
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