250 Ticks Trading Gold, Review Patterns For Later Today
Gold Futures:
1130am est
– Lets review these markets for the rest of the day
– Gold futures trading sideways just off the lows of the day and directly after the big drop down off the highs from late last week.
– We have two options on the gold:
o I can buy the breakout above 44.4 looking for profit targets at 46.0, 52.5, and the final target of 57.5 at the highs of the trading range.
o We can also sell short below 1338.0 with targets of 36.4, 33.2, and then all the way down to the big level of support at 26.0 for the final ¼.
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| Day Trading Gold Futures |
Crude Oil Futures:
– Crude oil futures are trading at the lows after the big move down, so im looking to buy these lows
– Entry long will be with a 2-step long entry above 82.23 with profit targets of 32, 44, soft 72, and a hard 95 for the final target at the big round number.
– If we do break the lows below 81.26 im looking to buy the previous low of day at 81.00 looking to capitalize on the bounce off these multiple lows (LOD and PLOD)
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| Day Trading crude oil futures schooloftrade |
Euro Futures:
– EURO Futures got a bumpy start but took off to the downside testing new lows after the 830am announcement from china this morning that made the dollar rise.
– I want to buy these lows, and specifically I want to get in long above the previous low of day above 1.3823.
– Profit targets will be the trend line overhead, 70, and then big round number of 1.3900 for the final ¼ of your position.
– If we cant break the highs I can also sell short below 3757 with profit target of 20, 05 (big round number) and final down to 80 for the final target at the double-bottoms (yellow lines)
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| Day Trading euro futures |
