Hey Trader,
Finding Strength and Comfort in Your Trading Journey
I hope this email finds you well. As you navigate the dynamic world of retail trading, I wanted to share an inspiring verse with you:
"By day the Lord directs his love, at night his song is with me—a prayer to the God of my life."
- Psalm 42:8
In the fast-paced environment of trading, it's important to find moments of peace and assurance.
This verse reminds us that the Lord's love and guidance are always with us, day and night.
Let His presence be a source of strength and comfort, giving you the confidence to face each trading day with resilience and clarity.
Remember, you are never alone on this journey. Keep your faith strong, and let it guide you through every challenge and opportunity.
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: 7/9/24
Anthony here from Speciale Analysis, and I hope everyone is having a fantastic day.
Today, I want to share some insights into how we approached the market this morning, especially with the anticipation surrounding comments from Fed Chair Powell and Treasury Secretary Janet Yellen.
Morning Market Overview
This morning’s market was less than ideal in terms of price action.
The NASDAQ and the S&P were quite volatile, making it challenging for those waiting for a trending market.
If you're a proficient scalper, you might have found opportunities, but for others, today required extra diligence and patience.
Personal Trade Analysis
First Trade of the Day
My trading day started early, around 6:20 AM, when I decided to short crude oil.
I identified resistance and took my position at 81.97, targeting 81.75.
Initially, the market moved in my favor, and I took half of my position off at 81.75 as planned.
However, I saw fresh liquidity at 81.60 and 81.50, which prompted me to hold the other half of my position, aiming for those levels.
In hindsight, I should have stuck to my original plan.
I ended up getting stopped out at break-even for the remaining half of my position.
While it was still a profitable trade, it reminded me of the importance of sticking to my initial strategy.
I'll include images of the footprint chart and the reasons behind my trade decisions in the blog post for further clarity.
Second Trade of the Day: Post Powell and Yellen’s Comments
As the market absorbed Powell and Yellen’s comments, the session became more volatile.
By 11:05 AM, the WTI market had run up to and through its session highs, reaching 82.42, which was a key resistance level identified on my higher time frame analysis.
I waited for the market to break through a prior high (newly appointed support), which it did.
This presented another shorting opportunity.
I entered the trade and targeted 81.60 and 81.50 again, taking profits at both levels.
This time, the market moved as anticipated, and I was able to capture a successful trade.
Key Takeaways:
Stick to Your Plan: My first trade was a lesson in the importance of sticking to your original plan. Deviating can sometimes work out, but more often than not, it leads to missed opportunities or unnecessary losses.
Higher Time Frame Analysis: Utilizing higher time frame charts (weekly, daily, and 4-hour) can provide critical insights into resistance and support levels, helping to frame your trades more effectively.
Patience and Diligence: Especially on days with significant events like speeches from key financial figures, the market can be unpredictable. Patience and careful analysis are crucial.
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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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