September 30, 2011
Another easy wave pattern for our Fast Track Method!
Hi Guys,
Just about to finish up a great week of trading with a perfect wave pattern short on crude oil futures and wanted to share this with you.
Notice the price wedge we see formed earlier this morning, and then we break the lows of the wedge with a strong move down, followed by a retracement off the lows into our trigger line (yellow) for the perfect placement and structure for this entry short.
What makes this so perfect?
Notice the level of the retracement, its still BELOW the most recent swing-low around 80.00 from 945am this morning.
The key to selling a breakout on the price wedge is exactly this structure. Trade management is easy on the fast track method place your stop at the swing-high, your target at the swing-low and let it run for an easy 30 ticks of profit per contract.
We are going to review this specific pattern with our members in Monday’s training, so don’t miss it!
See you Monday @ 730am in our live trade room!
