Another Day trading opportunity on Crude Oil Futures right now..

hey guys!  hope you all had another great day with us in the trade room today!  Congrats to all our members making money with us today!

Im using a 15-minute chart of the new 08-10 crude oil futures contract.  I start with a 60-minute chart, and then I used a faster timeframe to look for a pattern.

You can easily see the entry point above 88 on this long trade.

I will get long above 88 and then look to take half my profit off @ 78.00 for a quick first target, and then if we can break above the big round number of 78.00 i will take 1/4 off @ 78.09, and then 78.25 I will flatten my position.

I dont see this market doing anything more then heading back to its open of the day, which is 72.27, and that will be plenty of profit for this reversal trade off the low of day on crude oil.

I look forward to reviewing this trade with you later today, so keep an eye on the blog later tonight for more up-dates on this trade, and many others we will be looking for tonight.

Questions?  JJ@SchoolOfTrade.com