July 12, 2010

Are you trading the Euro Futures with us? We called this trade LIVE in the room on Friday

Hi Guys,

If you were with us on Friday we called 3 winning trades on our 21-Range method right HERE on the blog!

If you missed those trade calls, here they are…

https://www.sidewaysmarkets.com//2010/07/09/did-you-take-this-day-trade-on-crude/

Looking Forward To This Afternoon:

Euro Futures

– Euro futures are still in the downtrend from our successful short entry < 2600
o We already took the first target @ 2560, moved the stop to entry to protect the trade
o Next target @ 2530 we take another ¼ off, and the final target @ 2490.
We entered short from 2596 when we saw the big round number break, and then BIG MONEY sellers joined the market @ 2598 so we got into the trade.

We took 1/2 our position off @ 2560 for our first 70 ticks of profit. We take 2 contracts @ +35 ticks for this first profit target, and then moved my stop to entry.

So we have our stop @ point of entry, and our next profit target will be 2530 to take another 1/4 off the trade, and our final target of 2490 is just above the next major level of support on this futures contract.

Gold Futures

– Gold futures are finally fulfilling the mission down to 1200.5 just like we called on our blog trade from last Friday

o Now we need to wait for the price re-test of 1207.5, or all the way up to 14.0

o We can also look to buy the lows if we move all the down to 1187.0, look for the 2-step LONG at these lows.

Crude Oil Futures

– Crude Oil Futures is setting up for a 2-step long above the big round number of 75.00

o Entry will be above 75.05

o First target will be 75.15 because we need to watch the 34 range trigger line

o 2nd and 3rd targets will be 75.25 and 75.45

o We just saw the initial attempt to trigger this trade, so we need to pay attention.

o We entered the long @ 75.07, with an initial stop @ 87.
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 

Russell Futures
 
– Russell futures are also setting up, this time to the downside

o Our entry short for this breaker short will be below 614.5

§ Take ½ off @ 12.5

§ Take ¼ off @ 09.2

§ And then final ¼ off @ 600.7, just above the big round number.
 
 

 
 

    schooloftrade

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