Gold futures reversal trade setting up while crude oil consolidates sideways markets

Hi guys, hope you all had a great trading day today!

our favorite futures markets are moving tonight, so let’s take a look at some of the patterns we see.

gold futures is setting up at its lows, and we will look for a reversal trade pattern.

i can see an entry level above 1185.0, which puts us just above a down trendline coming from previous swing highs, and gives me an open trading opportunity all the way up to 90.0.

Im going to use the AB = CD pattern to predict the target of 90.00, and the trendline around 93.0 will act as added resistance, so my target will be correct @ 90.0.

My first target of 90.0 will take 1/2 my profit, and then looking for 1/4 off at 94.0 and all the way back up to where we began @ 1200.00

this is an exciting trade setting up, we could see over 100 ticks of profit easily on this easy day trading pattern off the low of day.

our other markets are looking a little tired…

the euro is in a great position to go in either direction, so i will look for a breaker entry long above the big round bumber at 3005, looking to use the overhead trendline as a great place to take profit around 3050.

we just missed the move on the aussie dollar futures contract, the 2-step long reversal off the lows made many of you guys some great profits today!

i will hve to wait for this one to come back down and give me another chance to enter a trade on the aussie dollar as you can see it trading in the middle as well.

as always, we love your feedback so thank you for posting, and I look forward to seeing you all in the live trade room tomorrow @ 745am EST