By: Omar Eltoukhy

Hey traders!  This week has seen some great trades on Tuesday, but very slow otherwise.  However, we are indeed seeing much more tradeable markets than the prior weeks leading into the end of September.  We begin October and with the very beginning week of the month, we also have NFP at the end.  This should set the stage for a great month of trading and hopefully the Fed will kick things into gear by making the rate change at the next meeting.  This will give the market clarity, and allow it to move forward.  However, in the meantime, we should have some great trades ahead of us as we progress through Fall.  I have provided my NY outlook for today in writing, as well as the video I produced for the London Outlook today which is still VERY valid considering that we haven’t seen much movement so far.  ENJOY!!!!!

Keep in mind some of the terminology has to do with the system our team uses in the program.  That said, I have tried to point out the actual areas since I know many of you reading this will not have the actual tools.  Also keep in mind that this is a VERY tough week to trade ANY market, so please use caution.  And AS ALWAYS, this information is for educational purposes only.  It is NOT a recommendation to buy, sell or trade any instrument or financial vehicle.

Goldtrademaster.com

Contact me directly with any questions about the wonderful program we have at:  Omar@goldtrademaster.com

OUTLOOK BY INSTRUMENT:

GOLD:  Doctor, is there a pulse?  This instrument has flatlined today so far, not surprisingly holding at the key level of 1113.23 as we discussed earlier today.  Not much has changed and our outlook is the same as earlier with the primary approach being a potential pullback to one of 3 levels (1120, 1122.75 or 1125), followed by a rejection and a signal to go short.  Alternatively, we can also trade a breakout/pullback/rejection from the 1113.23 level itself.  Primary target for the former entries is the 1113.23 level with our secondary profit target at 1109.38.  Once we breach that level, there is TONS of “clear space” below, so if we are to make a bigger move below that level, we might be in for a ride.  Longs should only be considered upon a secondary move above 1131.50.

SILVER:  Leaving this alone, until we see more active markets.

OIL:  Again, as much as I LOVE trading oil, lately we haven’t seen very good markets.  So use extreme caution here.  However, we have started to make a bullish move today, so for the long trade, we essentially need a pullback just to the SCZ area of around 46.00 followed by a move higher, with the target being 46.88 (that major area again!).  Alternatively, we might see a pullback deeper down to the bullish DF/SCZ area of around 45.50 followed by a rejection higher, confirmed with a break back above 46.00.  Any short trades should be only considered on a secondary move below the bearish DF at around 45.15 with the overall target at the bottom range major area of 43.75.  A breakout above 46.88 or below 43.75 puts us back in the game again and probably onto the next major move in oil.  Don’t be fooled by the first break of either area though my friends!!!

INDICES:  Ho hum!!  Can we get some caffeine in these markets please!!  London outlook remains completely unchanged.  The FTSE has now become a “long only” possibility in my eyes today by reclaiming the 6093.8 level again.  I will be looking for either a pullback to bullish DF that then closes above this level for a long, OR a pullback to the level itself and a move higher with a signal.  No shorts on the menu for this index market.  The DAX offers us a choice depending on how the market moves since it has stayed close to the DFs.  For longs, pullback to bullish DF, then a move higher.  For shorts, a secondary move below the bearish DF.  For the long, target 10,000 and the short, target 9375.  The US markets have rolled bullish although they are still bearish on higher timeframes.  The DOW can be traded long from a pullback to the 16250 level and a move higher with a signal.  Alternatively we can trade it short with a secondary move lower from the same level.

MULTI-MARKET OUTLOOK VIDEO:

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