Hey Trader,
Your Trading Journey Must Serve A Greater Purpose Then The Money
In the world of trading, we’re often focused on managing debts and investments. But there’s one debt that remains invaluable, no matter what the markets are doing:
"Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law."
Romans 13:8
This verse reminds us that while financial obligations are temporary, the commitment to love one another is everlasting.
Just as you manage your trades with care, remember that investing in relationships and showing kindness yields the greatest return of all.
Wishing you success in all your endeavors, both in trading and in life!
Be Relentless In Pursuit Of The Will
Which God Has Set Upon Your Heart,
Anthony Speciale
8/19/24: Daily LIVE Futures Market Analysis Room Session Recap
This morning was all about capitalizing on key opportunities across Gold, S&P 500, Nasdaq, and Crude Oil.
Below, I’ll break down the trades we identified live, the strategies we employed, and the outcomes we achieved. Let’s dive into the details and see how the markets played out.
Gold: Quick and Profitable Downside Push
Gold offered a textbook setup this morning.
We initially saw a strong push to the downside, followed by a retracement towards the rolling Volume-Weighted Average Price (RVWAP).
Key Levels and Strategy:
VWAP Reaction: I advised that if Gold got caught up at the rolling VWAP, we might see a revisit of the earlier lows, possibly testing the pivot.
Target Zones: We specifically eyed the 1925-1927 range as a potential downside target.
Outcome: As anticipated, Gold quickly moved down to our target zone, providing a solid 66-tick move in just about 30 minutes.
This setup highlights the importance of patience and precision, especially when trading around key intraday levels like the VWAP.
S&P 500: Two-Timeframe Momentum for a Clear Push
The S&P 500 was another market we closely monitored this morning.
Despite a somewhat choppy start, we identified a solid opportunity based on two-timeframe momentum coming out of the opening range.
Key Levels and Strategy:
Opening Range Break: We saw a push into a pivot level, which, combined with strong liquidity at the 4500 level, offered a promising setup.
Momentum Continuation: Should the fast-moving averages hold, our target was set towards the 4516 level.
Outcome: As I recorded this, the S&P 500 was testing session highs, potentially setting up for further upside momentum.
This trade was a perfect example of how aligning multiple timeframes and key levels can provide high-probability opportunities, even in less than ideal market conditions.
My Trade Entries At The VWAP's
Crude Oil: A Quick and Profitable Dip
Crude Oil presented a classic shorting opportunity right off the morning session. Despite some initial chop, the market moved decisively after reaching a key level.
Key Levels and Strategy:
VWAP and Key Support Levels: We saw an aggressive bounce early on, and I advised taking a short as we approached the VWAP.
Target Zone: The 74.90 level was identified as a key support zone, where I expected a potential dip.
Outcome: The market dipped exactly as predicted, and I managed to take profits within five minutes. The move was quick and efficient, showcasing the importance of quick decision-making and trade management.
8/19/2024 @ 0815 ET. - Short 30 CLV24 @ 75.00, Stopped 30 @ 74.99
8/19/2024 @ 1005 ET. - Sell 30 CLV24 @ 75.23,
Cover 10 @ 75.11, Cover 10 @ 75.00, Cover 10 @ 74.95
Nasdaq: A Choppy Ride with Mixed Signals
Unlike the S&P 500, the Nasdaq struggled to find clear direction. While it did attempt to participate in the morning’s moves, the action was much more erratic.
Key Observations:
Lack of Congruency: Typically, I prefer to see the Nasdaq and S&P 500 move in tandem, but today that wasn’t the case. The choppiness in the Nasdaq made it difficult to commit fully to any position.
Takeaway: On days like this, it’s crucial to recognize when a market isn’t offering clean setups. Sometimes, the best trade is no trade.
Key Takeaways from Today’s Session
Today’s trading provided some valuable lessons:
Gold and Crude Oil: Reacted perfectly to our identified levels, reinforcing the importance of planning and discipline.
S&P 500: Showed how aligning timeframes can help identify high-probability setups.
Nasdaq: Reminded us that not every market will offer a clear path, and it’s okay to step aside when conditions aren’t right.
Despite the quiet summer Monday and lack of significant economic data, we managed to find and capitalize on clear opportunities.
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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