Euro Futures’ High of Day Reveal 2 Trading Opportunities

Euro futures:

– We have the euro trading at its high of the day, so we are looking for 2 trading opportunities:

o Selling short below 2790 for a 2-step reversal, taking profit at 83 (1/2), 65 (1/4) and then final at 47 (1/4)

o Buying long above 2844 with profit targets of 68 (1/2), 83 (1/4), and then the big round number makes a great final target at 1.2895 (1/4)

Euro 13 Range

Euro Futures Up-Date:

We avoided the first move up above 2844 because of the momentum indicator getting ready to point down, along with the dollar showing oversold.

Euro Up-Date

Euro Wave Long:

We took the re-entry long above 2855 and filled our first profit target of 68 for a nice winning trade. ($200.00usd / 2 ticks)

We then moved our stop to our point of entry and got bounced out early.

Now with the market falling off the highs of the day we have another pattern we can use.

Wave long above 2844 as price pulls back off the highs and allows us to buy at a much lower price.

Euro Wave Long 13 Raange

Crude Oil Futures:

With crude oil testing the highs of the day and the highs of the channel, we look for the short entry to sell the highs.

Entry short below 84 for a scalp entry with targets of 5/10/runner.

Sell Highs On Crude Channel

Pace of tape indicator is up and down, so it looks like the market is a little confused for direction right now.

Crude Pace of Tape

Our scalps are not the best option with such low volume right now, so lets look at a slower timeframe for a higher percentage entry pattern

Selling the highs, looking for a 2-step reversal pattern short below 77.41

Profit targets of 77.17 (1/2), 77.05 (1/4), and then down to the top of the channel at 76.90 (1/4)

Crude 13 Range