Great Trade Opportunity Setting Up On Crude

Crude Oil:

We’re looking for the breakout to the downside below 81.57 for this short entry

I will take profit at 81.43 (1/2), 81.16 is the next support level (1/4), and then if we can break the 81.00 we will look for the final target of the trend line around 80.85.

Now we see the crude oil futures are trying to swim up-stream above overhead resistance and breaking about the sideways range we have been in since the open

Im looking long above 82.26, and looking for profit at 34 (1/2) below the trend line and HOD, and then above to 52 (1/4) and then hopefully all the way up to 83.00 using the AB=CD pattern

Crude Oil Up-Date:

We didn’t take the long trade above 23 because the momentum was not confirming, and we also saw those hammer candlestick patterns that showed us bearish market sentiment.

Now with the buyers losing control, now I look in the opposite direction for my 2-step reversal day trading pattern.

I will get below 82.00, ideally below 81.95, for this short entry, and then take profit at the first support trend line around 81.90, and then down to 80(1/4) and then all the way down to 65(1/4) which is the low of day from yesterday

Euro Futures:

– We had the opportunity to sell the highs of the wedge pattern on the euro, and we made 30 ticks on the way down, before getting bounced out of the trade at 57.

– I’m looking for a re-entry short below 57, and looking for only 2 targets, first at 50(1/2), and the final target is the trend line down around 35(1/2)