TheStrategyLab.com Price Action Trading Support Forum

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)


click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $3,060.00 dollars or +30.60 points, Emini ES ($ES_F) futures @ $0.00 dollars or +00.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $3,060.00 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=137&t=1948


Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Price Action Analysis via WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR).

Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=252&t=2585

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Market Context Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.


click on the above image to view today's price action of key markets

MarketWatch.com

S&P 500, Dow Fall on Weak Economic Data; Nasdaq sees Steepest Drop 7 Weeks

By Anora Mahmudova and Barbara Kollmeyer

NEW YORK (MarketWatch) — U.S. stocks fell on Monday as disappointing economic data from China and Europe triggered a bout of selling in global equity markets.

The downdraft was fueled in part by reports indicating weaker-than-hoped-for Black Friday sales, which weighed heavily on shares of retailers.

Investors’ dour mood also swept over into the tech-heavy Nasdaq Composite, which saw its steepest drop in seven weeks, dragged down by big declines in tech giants such as Apple, Google, Facebook, and Alibaba.

Small stocks, considered riskier than their larger counterparts, fared the worst in the down day, with the Russell 2000 falling 1.6%.

Meanwhile. commodity prices swung from trading sharply lower during Asian and European sessions to trade sharply higher during the regular market hours in the U.S. Energy and utility stocks rose in tandem with a spike in oil prices.

Why is everyone so glum on oil? MarketWatch's Victor Reklaitis discusses OPEC's decision not to cut production even with falling oil prices. Photo: Getty

The S&P 500 SPX, -0.68% and the Dow DJIA, -0.29% saw their biggest one-day loss since Oct 22. The benchmark index fell 14.12 points, or 0.7%, to 2,053.44, while the Dow industrials lost 51.44 points, or 0.3%, to 17.776.80. The Nasdaq Composite’s COMP, -1.34% decline was the biggest in seven weeks, after shedding 64.28 points, or 1.3%, to 4,727.35.

Volatility on the S&P 500 as measured by the CBOE VIX index VIX, +7.20% jumped 6.5% to above 14.

Colin Cieszynski, chief market strategist at CMC markets, said U.S. stocks are due for a small pullback after the impressive six-week run.

“The fact that the technology stocks are selling off hard today is indicative of just how extended markets became,” Cieszynski added.

The heaviest-weighted stock on the S&P 500 and Nasdaq Composite, Apple Inc. AAPL, -3.25% fell 3.3%. Alibaba Group Holding Ltd. BABA, -5.06% First Solar Inc. FSLR, -6.23% Yahoo! Inc. YHOO, -3.17% Facebook Inc. FB, -3.35% and Google Inc. GOOGL, -1.72% were also hit hard.

Energy stocks rallied as WTI Intermediate CLF5, -0.93% and Brent crude oil prices LCOF5, -0.81% spiked. The S&P 500 Energy sector rose 0.7%.

Oil prices swung wildly as last week’s decision by the Organization of the Petroleum Exporting Countries to maintain production levels continued to rattle markets. WTI slid 14% last week and 18% for November, the biggest one-month fall since December 2008.

Murray Edwards, chairman of Canadian Natural Resources Ltd., and one of Canada’s biggest oil investors, predicted Friday that oil prices could collapse to $30 a barrel before stabilizing at between $70 and $75, according to Canada-based Financial Post.

Gold GCG5, -1.12% swung wildly in the aftermath of Swiss vote to reject a plan to force the Swiss National Bank to ramp up its holdings of the precious metals. Gold futures fell as much 2%, but rebounded to settle above $1,200 an ounce. Silver SIZ4, -2.00% also rebounded sharply and gained more than 5%.

News out of Asia triggered selling in equity markets round the world. Two separate gauges of Chinese factory activity indicated manufacturing had lost momentum, despite a recent cut in interest rates. Then Moody’s downgraded Japan to Aa3 from A1, citing uncertainty that the country will meet its fiscal goals and be able to grow its economy.

ISM and Black Friday sales: U.S. manufacturers expandedat a slightly slower, but still robust, pace in November, a survey of executives found.

Retailers such as Wal-Mart Inc. WMT, -1.51% Target Corp. TGT, -1.69% and Amazon.com Inc. AMZN, -3.73% sold off, after retail spending over the Thanksgiving weekend fell 11%, the second straight annual decline, according to an estimate by the National Retail Federation.

Analysts will be watching to see how sales fare on Cyber Monday, which is one of the biggest online shopping days of the year.

Quanta Services Inc. PWR, -6.56% plunged after BB&T Capital Markets cut its rating to hold from buy. Newmont Mining Corp NEM, +6.85% was the biggest gainer on the S&P 500, rallying more than 5%. Read more about the day’s big movers here.

Overseas markets: The FTSE 100 index UKX, -0.99% fell sharply as oil and mining-related stocks tracked volatile commodity prices. Other European markets also closed lower. With the exception of a gain for the Nikkei 225 index NIK, -0.07% Asian stocks ADOW, +0.03% were battered by worse-than-expected outcome for those Chinese manufacturing surveys. The Australia’s S&P ASX 200 index XJO, +1.34% slid 2%, dragged by energy stocks. The dollar USDJPY, +0.04% eased as commodity prices rebounded.

Gold Gains Most in 14 Months as Oil Rally Revives Demand

By Joe Deaux Dec 1, 2014 3:31 PM ET

Gold and silver futures climbed the most since September 2013 as a rally for oil prices revived demand for the metals as stores of value.

Crude futures in New York rose as much as 4.8 percent, rebounding from a five-year low. Gold earlier fell to a three-week low after Swiss voters rejected a measure that would’ve required their central bank to hold a portion of its assets in bullion. Prices erased this year’s losses as Moody’s Investors Service cut Japan’s credit rating and U.S. holiday spending slowed, fueling concern that global growth will falter.

Bullion dropped to the lowest since 2010 last month, partly on waning demand for a hedge against inflation. Federal Reserve officials have warned that lower energy prices could hold down consumer costs in the near term. Oil’s advance today is the first gain in more than a week.

“What’s driving the gold market here is crude,” Tai Wong, the director of commodity products trading at BMO Capital Markets Corp. in New York, said in a telephone interview. “The move is snowballing as recent short covering and micro-term momentum buyers go long.”

On the Comex, gold futures for February delivery jumped 3.6 percent to settle at $1,218.10 an ounce at 1:58 p.m. in New York, the biggest gain since Sept. 19, 2013. The price is up 1.3 percent this year.

Molten gold sits in a crucible as a freshly cast 400 ounce gold bar sits on a workbench... Read More

The metal extended gains after prices traded “far enough above $1,180” to signal a “key reversal day,” Wong said. Gold broke the $1,180 support in November, after rebounding from the level in the previous 16 months.

Open Interest

Estimated open interest was near 373,000 contracts on Nov. 28, down from about 469,000 a week earlier, exchange data compiled by Bloomberg show. Investors sold gold positions in the past week ahead of the Swiss vote on the bullion measure and as options on December futures expired, said George Gero, a precious metals strategist at RBC Capital Markets.

“The funds were fleeing instead of rolling over, which left the funds under-invested for today’s rise,” Gero said in a telephone interview from New York.

The downgrade for Japan and slower U.S. retail sales “suggest lower interest rates and a flight to quality, and that’s good for alternative assets like gold and silver,” Mike McGlone, the research director at ETF Securities U.S. in New York, said in a telephone interview.

Money Supplies

Prices have rebounded 7.8 percent since touching $1,130.40 on Nov. 7, the lowest since 2010. Central banks in Europe and Japan are trying to revive weakening economies with more stimulus, reviving demand for precious metals amid increasing money supplies.

While spot gold quoted in dollars is up about 1 percent this year, bullion denominated in euros has climbed 11 percent and in yen 14 percent.

Silver futures for March delivery jumped 7.3 percent to $16.692 an ounce on the Comex, the largest advance since September 2013. Prices rose as much as 8.1 percent.

Aggregate trading in both gold and silver doubled compared with the average in the past 100 days, according to data compiled by Bloomberg.

On the New York Mercantile Exchange, platinum futures for January delivery climbed 2.5 percent to $1,241.60 an ounce, while March palladium futures slid 0.6 percent to $808.10 an ounce.

To contact the reporter on this story: Joe Deaux in New York at jdeaux@bloomberg.net

To contact the editors responsible for this story: Millie Munshi at mmunshi@bloomberg.net Patrick McKiernan

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries.

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
@ http://twitter.com/wrbtrader @ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
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