Hey Trader,
The Power of Faith Expressed Through Love in Your Trading Journey
As you continue to navigate the complexities of the trading world, I wanted to share a verse that offers profound insight and encouragement:
"For in Christ Jesus neither circumcision nor uncircumcision has any value. The only thing that counts is faith expressing itself through love."
Galatians 5:6
In the fast-paced and often challenging environment of trading, it's easy to become preoccupied with external factors and achievements. This verse reminds us that, ultimately, what truly matters is our faith and how it is expressed through love.
Let this verse inspire you to approach your trading journey with a heart full of faith and a spirit of love. By integrating these values into your daily activities, you can create a positive and meaningful impact in your work and in your interactions with others.
Your faith, expressed through love, will guide you to make decisions that are not only beneficial for your trading success but also for the well-being of those around you.
Wishing you success, faith, and love 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: 7/17/24
Anthony here with Speciale Analysis. I hope you're having a wonderful day!
I'd like to break down how we played the Crude Oil during our LIVE session this morning.
This market presented us with a beautiful setup, and I'm eager to share the details of how we navigated it.
Key Points of Our Crude Oil Trade
We started our session at 8:00 AM, and the Crude Oil market was already checking all the boxes for a favorable trend trade setup.
Initial Long Position We got long on crude oil right around 8:00 AM. The key support level we focused on was $81.20. We emphasized that if this level held, it would be a strong signal to go higher. This level was retested perfectly, confirming our entry point.
First Target: We hit our first target with a gain of about 25 ticks.
Second Target: Our second target netted us approximately 51 ticks.
Third Target: We reached about 70 ticks at our third target.
As the market moved through the opening bell, we saw continued gains:
At a pivot, we captured 95 ticks.
Another pivot yielded around 107 ticks.
Eventually, we saw gains of up to 148 ticks and continued to be up about 160 ticks in light sweet crude oil as the session progressed.
Detailed Market Analysis
During the session, we identified a double top and observed a slightly higher low, which concerned us slightly. We thought there might be a deeper test to $81 or even $80.90, but that didn’t happen. I got stopped out early at 6:55 AM, well before our main session.
Afterward, we saw the market get above prior highs. I waited to ensure momentum was in our favor, and everything aligned perfectly around 8:35 AM. This setup met all my criteria, including two-time frame momentum and favorable moving averages.
Risk Management: My trading strategy focuses heavily on risk management.
I aim to participate in the market with minimal risk, knowing that losses are inevitable but should be insignificant.
For instance, during our entry at 8:35 AM, the risk was only about five or six ticks.
Profit Taking and Market Reactions
By 10:00 AM, I felt we might be at a session top and took my profits. I closed the balance of my trade around $82.25, securing about 75 ticks.
Feeling content, I attempted to short the market, anticipating a reversal. I got stopped out at my entry points twice as the market continued higher after shortly correcting.
Despite these minor setbacks, the earlier gains from our long positions outweighed the losses. The overall market trend was favorable, continuing to show strength and resilience.
Today’s session in crude oil was a prime example of how understanding market trends and effective risk management can lead to significant gains.
While other markets like the NASDAQ, S&P, and Gold were not as favorable, Crude Oil offered a clear and profitable trend trading opportunity.
We also discussed the importance of managing emotions while trading. It's a crucial aspect that every trader should focus on to maintain discipline and consistency.
I hope this detailed breakdown provides you with valuable insights into navigating any market with discipline and consistency. Stay tuned for our next video where we’ll continue to dive deep into trading strategies and market analysis you can master.
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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