Day Trading Futures Patterns Setting Up…

Gold Futures:

– We’ve made a nice move down on gold, making it below the 1200 level, now lets look to buy the rise back to the upside of where the drop began.

o Entry long above 83.0

o First target of 85.5 will be the previous low of day

o Our second target of 88.5 is the next swing high above that level

o And our final target of 93.0 will be all the way back up to where this drop began.
 

Gold Update:

We have new lows on Gold, so our entry can be moved lower.

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Crude Futures:
 
– Crude Oil futures have made new highs today, we’re looking to SELL the HIGHS on this 2-step short reversal pattern on our slower timeframes

o Entry short below 29, this is the trigger line on my 34-range chart, so this DYNAMIC support level may be lower by the time the trade triggers, so keep an eye on the 34 range trigger line, its at 28 at this time.

o First target of 77.10 is the big round number

o Second target of 95 is a little too tight for my liking, but we need something around the previous day’s open

o Third and final target is all the way down at the open of the day, right back to where we started.