Daily LIVE Futures Analysis Room Recap + My Personal Trades: 7/12/24
- Anthony Speciale
- Jul 12, 2024
- 4 min read
Updated: Jul 13, 2024
Hey Trader,
Trading with Integrity and Compassion
I hope this email finds you in good spirits.
As you pursue success in the dynamic world of trading, I wanted to share a verse that emphasizes the importance of integrity and compassion in all our endeavors:
"Speak up and judge fairly; defend the rights of the poor and needy."
Proverbs 31:9
In the competitive landscape of trading, it's easy to focus solely on personal gains.
However, this verse reminds us of the greater responsibility we have to act with fairness and to consider the well-being of others.
By making ethical decisions and advocating for those less fortunate, we contribute to a more just and equitable world.
As a retail trader, you have the opportunity to make a positive impact not only through your financial success but also through your actions and choices.
Let this verse inspire you to trade with integrity, to be fair in your judgments, and to use your influence to uplift and support those in need.
Wishing you success and fulfillment 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: 7/12/24
Indices' Upward Grind and Crude Oil Sell-Off
Hello traders, Anthony here with Speciale Analysis. I hope everyone is having a wonderful day.
Today was quite the morning, and I want to share my insights and analysis on the recent movements in the indices and crude oil.
Let's dive into the details and explore the trade setups that presented themselves.
The Morning's Economic Data
This morning at 8:30 AM, we had some significant economic data releases, followed by preliminary numbers at 10:00 AM.
These events set the stage for the day’s trading activities. From that point on, it was an upward grind for the indices.
Indices: NASDAQ and S&P 500
As we approached 11:00 AM, we noticed a plateau in the indices. I informed my clients that if we could maintain the VWAP, we might see another push higher.
This prediction held true for both the NASDAQ and the S&P 500.
The NASDAQ saw a nice grind higher, clearing an entire gap before experiencing a slight correction but still holding the VWAP until breaking into the closing bell. Similarly, the S&P 500 mirrored this upward momentum after the economic data was released.
Crude Oil: Resistance and Selloff
Moving on to crude oil, we observed the market banging against prior highs.
My analysis indicated potential resistance around the 83.60 level, which was tested multiple times, including the overnight high.
Trade Execution and Outcome
First Short Position: I entered a short position but got stopped out, resulting in a loss of 10 ticks.
Second Short Position: I took another short position, took partial profits while retesting the lows, and then got stopped out on the remaining balance. This partial profit covered the initial loss, making it a draw.
Final Short Position: As the opening bell rang, I noted that if the market didn’t surge through the resistance, there was evidence suggesting it would go lower. I entered a short position and took profits around the 82.95 level.
As I parted ways with my clients, crude oil had pulled back to the 83.60 level.
I advised them that if we held this consolidative state, we would likely push lower, which indeed happened.
My Trading Setup and Approach
For those curious about my trading setup, here’s a quick rundown:
Charts: I use a daily chart (top left), a 4-hour chart, a 5-minute chart, and a book map for liquidity visualization.
Additional Tools: I also run a footprint, tape, volume profile, and delta volume profile on another screen.
Timeframes: My higher timeframe analysis comes from weekly, daily, and 4-hour charts. For short-term analysis, I use 15-minute, 5-minute, and occasionally 1-minute charts. Typically, the 3-minute and 5-minute charts are sufficient for me, while the 15-minute chart helps confirm trends.
Personal Note and Trading Philosophy
I left the office early today to get my wife a wedding anniversary gift. We’re celebrating four years of marriage this year and just marked one year since my kidney transplant recovery. It’s been a wild four years, filled with challenges and triumphs.
I love trading and helping others succeed in this journey.
Consistency, discipline, and never giving up are key to achieving results.
When I started 13 years ago, resources were scarce compared to the wealth of information available to retail traders today.
It’s crucial to find a mentor or resource that aligns with your trading style and goals.
For me, traditional analysis, understanding order flow, and how market participants interact are fundamental.
This approach may not suit everyone, but it works for me, and that’s what I teach.
I provide a simplistic approach to build a solid foundation and help traders overcome their hurdles as they progress.
I hope you found this post informative and valuable. Have a wonderful weekend, and I look forward to seeing you in the next video.
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
Daily LIVE Market & Orderflow Analysis
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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