July 9, 2010

Did you take this day trade on Crude Oil Futures?

Hi Guys!

We just closed the trade room for the week, but before we closed the room we called a few trades on some of our favorite futures markets!

I just took the crude oil short @ 83, and ive already taken my second profit target.
here is the initial call from the room….

and here is where we are currently….

I got short on the crude oil futures at 83, and took my first profit target @ 85 for a quick 16 ticks (took 2 contracts off the trade) and then got another 28 ticks on my 2nd target of 75.55 just as planned.

My stop is sitting @ 80, and im waiting patiently for our final target @ 75.05 to be filled!

We’ve earned over $400 on this trade so far, lets make some more!  stay tuned for the rest of this trade!

we also have some more day trading set-ups and patterns right now…

lets look at Gold Futures….

Im looking for this short entry on Gold futures below 6.8 for this reversal off the highs.

look to take 1/2 my profit off the trade @ 5.5, and then 1/4 off at 4.0, and the final 1/4 of the trade will be covered @ 1200.5, which is just a few ticks above that big round number of 1200.

this trade will be another great opportunity for some more end of the week profits!

lets look at the Russell Futures…

im looking for the Russell to break down off the highs and end up getting short below 08.6 for this reversal trade opportunity.

if you notice, the russell has had a hard time getting to the upside above previous highs of the week, so this shows certain signs of reversal, and we are going to be waiting for it!

Entyr short below 08.6, and look for my first target (1/2 my position) at 605.0, and then take 1/4 off at 602.0 and another 1/4 off at 601.0.

I save the best for last….Aussie Currency Futures 🙂

im still looking for the same 2-step reversal pattern that was setting up from yesturday, and the pattern still looks good on this 21-range chart of the aussie futures.
Entry below 25, and looking for 1/2 off at 8605 for a quick 20 ticks of profit, and 1/4 off at 8563 and 8505, just above the big round number of 8505.
We had an AMAZING week of profits in the trade room, and we are STILL making money with our simple patterns and easy-to-use trading methods.
Email me your snapshots, post questions in the comment section below, and I will keep you all posted on our futures trading progress!
See you all on Monday @ 745am EST for the live trade room!

    schooloftrade

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