August 11, 2010

Great Trade Opportunities Setting-Up On The Russell & Gold

Russell Futures:

Im watching our 13-range chart and I can see a 2-step long above 31.2,with profit targets of 34.0 (1/2), 36 (1/4) and then up to the previous low of day at 38.7 (1/4)

We also see on our slower timeframe (34-range) we see breaking below the wedge pattern, with entry short below 626.1, and profit targets of 18.3 (1/2), 610 (1/4), and then down to 602.3 (1/4) just above the big round number of 600.0

Crude Oil Futures:

We see a nice breaker short pattern on the 13-range chart after breaking out below 79.00 this morning.

My entry short will be below 78.32 and looking for profit targets of 78.05 (1/2), 77.83 (1/4), and then all the way down to the big round number (next level above it) at 77.30 (1/4)

This is a tight third target mainly because we haven’t seen any big moves today from crude oil

    schooloftrade

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