+126 Ticks Live! Crude Oil Futures tumble and we profit!

Hi Guys!

We had another day of profits in our live trade room, earning over 120 ticks!

We have made over 100 ticks in the last 4 of 5 trading day! Congrats to all the members making money with us today!

We had a challenging day in the markets, we made over 100 ticks before 10am EST today, but then the market tried to take it all back!

Click below and watch this video, you don’t want to miss this one!

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830am EST

– Gold futures are trading sideways after the big drop all the way down to 1200 over the break.
o Fast chart is trading in a wide wedge pattern
o We are testing our lows of the day, just below the OPEN of today’s trading level of 1207.2
o We notice the 4range chart is pretty choppy
o We slow down to an 8-range chart and we see a 2-step reversal off the lows setting up above 1206.6
o We also notice a similar 2-step reversal on a 21-range chart, looking to get 15.0 for our entry long on this reversal
 We will wait to see what the market looks like for targets when the price gets closer to our entry.

840am EST

– We took our first trade of the morning on Gold Futures
o 2-step reversal off the low of day, we took 2- ticks out of it
o We missed the wave re-entry because the price never pulled back far enough to test our rising trigger line, so we only took the 2-step
o We still watch the 21 range chart looking for the big 2-step reversal off the major lows from last week.

915am EST

– Crude Oil Futures are trying as hard as they can to take back some losses from last week
o We see the big drop from last week and we think we might see a big jump up to cover those losses, but we need to wait and see
o We marked up overhead resistance, support below
o We saw our first pattern on crude oil @ 900am EST today

 Breaker long, made us over 30 ticks, or $300 usd for only 4 contracts, and it filled all 3 of our profit targets.
o We noticed the 4-range chart was trading in the middle of the bracket, so we need to look at a little slower chart timeframe to find better patterns we can use today

1000am EST

– Watching gold futures as they try and bounce off the new lows of the day
– We broke below 1200 and its been very whippy, and very tough to get a good confident entry with all the price action moving around quickly.

– We have news @ 1000am EST (ISM News), so we will wait until after the news for more opportunities.
– We started our day with 2 winning trades, 1 crude oil and 1 on gold
– Now the market gets a little more challenging
o We see momentum overbought/oversold
o A little less consistency in our BIG MONEY in the market
o Speed has been slower than we saw at the open @ 930am EST

How do we know if we the trade will work out for a profit?

– Do you have enough room for the trade to play out?
o If my first profit target = 10 ticks, I need to make sure we don’t have any S/R in my way of earning that 10 ticks.
o Check your rules, we call it the ‘6-tick rule’
o You only need your first target, b/c you move your stop to entry at first target to remove the risk in the trade and secure the profit.

– Momentum should confirm the trade
– BIG MONEY on the time & sales to confirm my entry
1045am EST
– We just broke above 100 ticks for another day of profits in the room!
– Crude oil testing its high of day, but SPEED looks very slow, so we are concerned this high will hold
o Now look for a reversal pattern off the high of day after we see the speed slow down at the HOD.