Euro, Russell, Crude And Gold Trades Setting Up In Real Time

Euro Futures:

We have the euro trading sideways around 1.2700, and im looking to buy the lows of this range with a 2-step long pattern above 2706, and if I cant get in at 2706 I can also wait for the more conservative entry above 2723

Profit targets for the long trade will be 2719 (1/2), 2735 (1/4), and then all the way up to the LOWS of the trading range above us at 2770

If we cant reverse direction, im also looking for a short to continue with this bearish trend today below 2677.

Profit targets on this short are a little fuzzy because we don’t have any support to work with, so we use the AB=CD Pattern to determine where the likely profit targets will be.

My first target of 65 (1/2) is easy to find, and its nice and close to my entry, which we like, but the 2nd target of 40 (1/4) may be something we can move if we see the price action slowing down and preparing for a reversal.

As of right now, im looking at 40 for the second target, but this may change once we see what the trade looks like.

Final target is all the way down to the next big round number of 1.2600, which will act like a magnet during low volume times in the market.
 

Mini Russell Futures:

We’re testing the lows on the mini Russell, and when we test the lows we always look for a reversal pattern to buy the lows of 603.5

We know to be buyers above 602.0, so lets look for an entry above 605.0, and due to the trend line overhead we think we may need to wait for 605.2 or a little above that trend line to make sure its been broken.

Profit targets will be quite tight on this trade due to the narrow trading range we have.

First target of 606.0 is the next swing high, then 607.0 is the next swing high above that, and then final target will be 8.5 which is the high of this trading range.
 

Mini Russell 4 Range
 
We’re testing the lows on the mini Russell, and when we test the lows we always look for a reversal pattern to buy the lows of 603.5

We know to be buyers above 602.0, so lets look for an entry above 605.0, and due to the trend line overhead.
 
 The Mini Russell gave us 3 good patterns, but none of them could trigger according to our rules

o The breaker short never triggered
o The wave short never triggered,
o The 2-step long could not be taken because we had overhead resistance

– And now the mini Russell sits sideways in a very narrow range within the sideways range we’ve already defined.

Crude Oil futures

Are trading sideways now at 74.00

We took a nice 2-step reversal off the highs of the trading range of 74.20, but we couldn’t get the price to break below 74.00, so here we sit…waiting.

Both the 4range and 13range charts show sideways and very slow, so we need to wait for the break to the highs, lows, or breakout.

Crude 4 Range

Crude 13 Range

Gold Futures:

Gold has been trading slow and sideways all day today

The 21-range chart shows us above the lows, so we cant buy the lows at this point, and we are now inside the wedge above those lows, so we are concerned this market is going to have a hard time breaking out with such low volume this time of the day, month, etc.

We also see the 4range chart is trading sideways, and the SPEED of the market on the pace of tape indicator is less than 100.

We want to see much better speed, and remember, we need CONSISTENCY in that speed rising.
 

Gold 21 Range

Gold Pace Of  Tape