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Daily LIVE Futures Analysis Room Recap + My Personal Trades: 7/8/24

Writer's picture: Anthony SpecialeAnthony Speciale
Speciale Analysis

Hey Trader,


Encouragement and Unity in Your Trading Journey


I hope this email finds you well. As you navigate the exciting and challenging world of retail trading, I wanted to share an inspiring verse with you:


"My goal is that they may be encouraged in heart and united in love, so that they may have the full riches of complete understanding, in order that they may know the mystery of God, namely, Christ." - Colossians 2:2


In trading, as in life, it's important to stay encouraged and united with those around you.


By supporting each other and sharing knowledge, we can all achieve a deeper understanding and greater success.


Let this verse remind you that unity and encouragement are key to unlocking the full potential of your trading journey.


Stay connected, keep learning, and continue to inspire those around you. Together, we can achieve remarkable things!


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: 7/8/24


Hello fellow traders! Anthony Speciale here from Speciale Analysis. Today, I’m thrilled to share with you some powerful insights from our recent live trading session.


Whether you're a seasoned trader or just getting started, understanding the intricate relationship between volume and price action can significantly enhance your trading performance.


Let’s dive into our analysis of the S&P 500 and explore some practical trading strategies.


Analyzing the S&P 500: Identifying the Move


In our latest live session, we kicked things off with the S&P 500.


It was an incredible move that we identified right from the start. At 8:00 a.m. EST, we began by examining the price action above our fast-moving averages and both VWAPs, favoring two-time frame momentum.


This setup was textbook perfect when it comes to multiple timeframe momentum trend trading, and we quickly spotted the opportunity for a substantial move higher.


Our analysis showed the price trending above the fast-moving averages, with strong volume supporting the move.


We ran through the prior day's high and the prior week's high, giving us significant levels to target.


From our entry point, the price ran through the opening bell, hitting a pivot overhead and delivering a total of 53 ticks on the S&P 500.


This was a phenomenal intraday move that showcased the power of disciplined trading.


chart
Source: TradingView

Building a Robust Trading Plan


For new traders, consistency and discipline are key.


Most traders struggle with building a solid trade plan and maintaining discipline, which is why we focus on these foundational aspects first.



It’s essential to remain disciplined, focused, and consistent, with a clear trade plan and risk management strategy in place.


In our session, we utilized two modified MACDs on different time frames, three fast-moving averages, and two VWAPs to guide our analysis.


The presence of volume and trend bias helped us anticipate market movements effectively.


The S&P 500 move was a perfect example of how these tools can be used to identify and capitalize on market trends.


Crude Oil Trading: My Personal Trades


chart
Source: TradingView, MotiveWave & Bookmap

Now, let me share my personal trades placed from today.


This year, I've increased my exposure and position sizing, focusing on light sweet crude oil—a market I've traded throughout my career.



Today, I executed two trades on crude oil, both of which I'll detail in this blog post.


I’ll include in-depth order flow images and a video of one of the trades to provide a comprehensive understanding of my trading decisions.


Trade # 1


chart
Source: MotiveWave

The first trade was placed at 8:45 a.m. after identifying a reversal candle and a trend line touch. Despite the market's gap down, it filled the gap and continued to sell off.


I marked significant resistance levels and placed a short trade at 82.80 resistance, taking profit at 82.47. Although it didn't hit the full target, it was a profitable trade.


Trade # 2


chart
Source: MotiveWave

The second trade, placed at 11:10 a.m., was based on our analysis that if the market couldn't break 82.80, it would likely fall back.


My closing statement with our LIVE traders this morning was: "If we can't overtake the 82.80 level, there's a real possibility of falling back - potentially through prior lows."


This trade also proved profitable, despite being cut short due to a doctor's appointment.


I managed the trade by taking profits and adjusting my stop, demonstrating the importance of adaptability in trading. You can watch Trade # 2 transpire below:



Key Takeaways for Traders


  1. Volume and Price Action: Understanding the relationship between volume and price action is crucial for identifying significant market moves.

  2. Discipline and Consistency: A well-defined trade plan, combined with consistent execution and risk management, forms the foundation of successful trading.

  3. Trend Analysis: Utilizing tools like MACDs, moving averages, and VWAPs can help identify trends and guide trading decisions.

  4. Adaptability: Being flexible and adaptable in your trading approach is essential, as market conditions can change rapidly.



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



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


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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