Looking For Patterns On Slower Time Frames

Russell Futures:

1015am EST

– We’re watching very slow and sluggish charts right now.

– The dollar index futures are trading sideways and VERY slowly, which is causing the rest of the markets to do the same.

– The mini Russell futures do not have any trades setting up for the time being, so lets look at slower timeframes to plan for the future.

– If the Russell rises we’re looking to buy the breakout above 79.7 with profit target of 80.5, 82.5, and 83.2 at the highs of the trading range.

– If the Russell falls, im looking to enter short below 72.5 with targets of 71.3, 69.3, and all the way to the lows of 64.5 for the final target.



Day Trading Russell Futures



Crude Oil Futures:

– Crude oil futures are also trading sideways at the highs so we have a options right now.

– If we can break above 82.05 we can buy the lows of this channel pattern with targets of 22, 33, and then the highs of 63

– If the crude oil falls below 82.00 we need to wait patiently for the open of the day 81.31 and then look short below 81.26 because that is the earliest point where we have enough room for this trade to move for us.

– Entering short below 81.52 is another option, but seeing the chart this will be higher risk. Im going to look for entry below 26 for the highest percentage opportunity on this day trade.



Day Trading Crude Oil Futures



– We use a faster timeframe chart to see where our next trade on the crude oil will be

o 4-range chart shows a sideways trading range from 82.38 down to 81.52

o Buy the lows of 52

o Sell the highs of 38

o And keep an eye out for the breakout above or below this trading range.

o Scalpers will use the same trade management for every trade they take

§ 5/10/Runner



Scalping Crude Oil Futures