117 Ticks Live! Gold Futures told us…did you see it?

Hi Guys!

We had another great day in the live trade room today!

We earned over 100 ticks AGAIN, and that makes the month of JUNE the LARGEST month of the year!

Congrats to all the members making money today, and thanks for the guests coming to see us demonstrate our trading in real time today.

click below to watch how we made this profit today…VERY good video today…

Or watch the video on youtube here

Or watch the video on youtube here

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830am EST

– Crude Oil Futures

o Wedge pattern on the slow chart
o Sideways trading on the fast chart
o Pace of tape indicator < 50 so very slow!
o Average true range was low, but not the lowest of the day
o We need to wait for price to break out of this sideways wedge pattern, it will give us better opportunities outside the wedge.

– Gold Futures

o Wedge pattern on the slow chart
o Sideways trading range is the same from last Friday, flat and sideways
o Speed of the market (pace of tape indicator) < 50 right now, so VERY slow
o Average true is rising, but we notice that its coming off its LOWEST reading in 2 weeks
o This tells us to be careful

 Low atr reading is the first clue
 Same trading range from last Friday = nothing has changed over the weekend = nobody has any real idea of where price is headed next

– Euro Futures

o Wedge pattern on the slow chart
 We also notice we are in the middle of the trading range on the slow chart
o We are trading at the low of day on the fast chart
 We notice this LOD is actually the MIDDLE of the trading range from the previous day on Friday

915am EST

– We see our first potential trade on the crude oil futures
o Price broke the low of the day around the open of crude oil @ 905am EST
o We looked for the 2-step long bounce off the LOD but price action is very slow
o We then looked for the wave entry long to continue the move to the upside, but there was a trend line in our way, which changed the course of price action.

– So no trades so far, and we notice that the markets are starting to look like they’re asleep, we need to see something today to wake them up.

1015am EST

– We begin working with the e-mini ES
o Sideways wedge pattern on the slow chart

1045am EST

– We see gold setting up for a breaker and a wave pattern short, but we notice the area on our chart is in a area of support and resistance all around us.
o We are careful not to trade around these areas b/c the risk isn’t worth the reward
o I have to risk 24 ticks (6 ticks x 4) for each trade
 If I notice that the area on my chart is going to make it very difficult on this trade working out, ill wait