90 Ticks Live Day Trading Mini Russell Crude Oil Euro Futures

Thanks for another great week in our live trade room, and hats off to everyone who made money along with us this week!

We’re almost half way through the month of August, so stay focused on using patience and discipline to wait for those high volume set-ups and keep your eye on the price for the Fall.

We earned 90 ticks today on only 5 trades, and as always we planned ahead for our entries and simply waited for the market to come to US.

815am est

Crude Oil Futures:

We can see crude on its way down below the transitional area of 78.50 down to 77.00, so the sellers are in control, and we are looking for 2 options:

– Short below 75.52 for a trend-continuation trade, with profits 74.70

– Long, buying these lows with a faster timeframe (4-range, 8-range, 13-range) using a 2-step reversal pattern

Gold Futures:

Gold is still trading sideways at the highs of 1215.0, and we see a very strong trend line as support just above where our entry short will be.

So we need to wait for the trend line break and then look short below 1213.5 for this trend-reversal trade.

915am EST

– Crude oil futures broke below 75.52 on the 830 news and so we now need to look for shorts below 75.32

– Gold futures continue to trade sideways at the highs, while we wait for a 2-step reversal trade short on the 13-range.

– Euro futures are trading sideways at 1.2800 right in the middle of the trading range from 2866 down 2779

1000am EST

– Consumer confidence a little higher than expected, we hopefully will get some volume out of this move

1030am EST

– Russell has been trading sideways all morning and now it tries to break out to the downside
– Im suspicious of this short here…lets keep an eye out for a fake-out breakout

– We avoided the short, and decided to take the long entry back into the trading range above us for a nice winner, the biggest winning trade of the day!

1100am EST

– Crude Oil futures are finally going to trigger the short entry below 75.32,

– It bounced around above 32 and we got a nice short from 35 with larger sellers and increasing speed of the time and sales window.

– Took my first target @ 25 (we wanted 22) but we saw the momentum curl and knew we had to take that profit quickly, and I’m glad we did because we got stopped out at our point of entry quickly thereafter on a very whippy move to finish the morning for us today.