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Daily LIVE Futures Analysis Room Recap + My Personal Trades: 7/18/24

Writer's picture: Anthony SpecialeAnthony Speciale
Speciale Analysis

Hey Trader,


Embracing Wisdom and Guidance in Your Trading Journey


I hope this email finds you well. As you continue to navigate the ever-evolving world of trading, I wanted to share a verse that offers timeless wisdom and guidance:


"The fear of the Lord is the beginning of knowledge, but fools despise wisdom and instruction."

  • Proverbs 1:7


In the fast-paced and often unpredictable trading environment, the pursuit of knowledge and the willingness to learn are crucial for success.


This verse reminds us that true knowledge begins with a reverence for higher principles and a humble attitude towards gaining wisdom and instruction.


Let this verse inspire you to approach your trading journey with a mindset open to learning and growth. Embrace the guidance and insights that come your way, and seek wisdom from both your experiences and the knowledge shared by others.


By valuing wisdom and instruction, you position yourself for long-term success and resilience in the market. Wishing you wisdom, growth, and success in all your trading!


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: 7/18/24

Anthony here with Speciale Analysis. I hope you're all having a fantastic day!


I'm excited to share a detailed analysis of our trading session, focusing on both the NASDAQ and WTI Light Sweet Crude Oil.


These insights should help you understand how to navigate similar market setups in your own trading journey.


NASDAQ Analysis: A Clean, Ambitious Setup



Although it was trading within prior price levels, it steadily moved higher in a clear, calculated manner.


Let me walk you through the key moments...


Around 7:42 AM, the NASDAQ created an interior high which was ultimately broken through at 8:12 AM and then retested at 8:15 AM.


During our live session, I pointed out to my traders that the NASDAQ looked particularly strong and ambitious at this point.


chart

Despite the inherent risk in any trade, this setup showed promise. From this ambitious entry, the NASDAQ ran approximately 280 ticks higher, peaking around 9:00 AM.


However, small candles with high buying volume indicated potential weakness, especially as we approached key levels on both the NASDAQ and the S&P 500.



This precise identification of entry and exit points is crucial for successful trading, as it ensures we ride the trend while mitigating potential losses.


Crude Oil Trading: Real-Time Execution and Analysis


Now, let’s dive into my personal trades on WTI Light Sweet Crude Oil. As many of you know, Crude Oil is my market of choice. Here’s a detailed breakdown of today’s trades:


chart

Setting the Scene

I rely on a combination of bookmap, a five-minute chart, and a 240-minute chart to monitor liquidity and price action.


Each chart serves a specific purpose, allowing me to identify high-probability setups.


First Trade Attempt

chart

At 6:55 AM, I noticed a weak candle, followed by a confirmation at 7:20 AM. I anticipated a push through the lows but got stopped out as the market didn’t follow through.



Second Trade Attempt

chart

By 9:20 AM, the crude market had already opened with strong buying volume, pushing prices back to the $81.50 resistance level.


This level, marked by an orange line on my charts, is a critical higher time frame resistance point.


I liked the setup on the order flow chart and the liquidity, which showed 145 contracts resting at $81. I decided to go short at $81.45 as the market confirmed my analysis.




Reflecting on the Trades

Looking back, the initial trade didn’t pan out, resulting in a stop-out at break-even. However, the second trade was successful, hitting the liquidity target at $81.


This trade was well-executed and aligned with my overall strategy, demonstrating the importance of patience and precise execution.


Final Thoughts


Today’s trading session provided valuable insights into the interaction between volume and price action. Understanding how this relationship transipres at higher timeframe levels is critical for identifying high-probability setups and managing risk effectively.


chart
Trading With The Right Levels Makes A Difference - Unique S&P / WTI Levels Provided Daily To Clients

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



Anthony and Anna Speciale

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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