5 trades this morning and ended up 5 for 5 with $630

Our first trade came on the Crude Oil market, (Symbol CL). Prior to taking a trade on the Crude Oil this morning, we made sure to wait for the Core Retail Sales to be released in Canada, because Canada is a major producer in many commodities, especially in Crude Oil. The Crude Oil market was up today, along with many other commodities, and once the Canadian Core Retail Sales were released, along with the opening of the outcry pits at 9:00am EST, the buyers in the market didn’t waste any more time, and continued to spend price action higher. Once the added volatility in the market had died down, and price action was moving at a continuous pace, we decided to enter the market in the direction of the overall trend, the trend being our friend, of course ( Crude Oil Futures Day Trading Video). We saw a great opportunity to enter long at 9:07am EST by taking a Breaker pattern at 79.42. As our order was filled, we saw even larger buy orders come across the ticker tape, thus showing us that the majority of market participants wanted to continue this rally. With the help of other buyers in the market, we were able to scale out of our trade at our first profit target of +4 ticks (2 contracts) before closing the order for a profit of +8 ticks ($80).

Our second trade came shortly after the U.S Equities market opened at 9:30am EST and was taken on the Mini-Russell (Symbol TF). For a good portion of the trading session today, the Mini-Russell rallied strongly, and only began pulling back in the past hour or so of price action. With the opening of the U.S Equities market at 9:30am EST brought with it a great rally in price action on the Mini-Russell. As the buying pressure continued to build, we were quickly given a green light to take a trade based off our Pace of the Tape indicator (E-MINI Futures Day Trading Video). At 9:35am EST our Breaker pattern set-up perfectly for us, and we entered the market to the long side at 597.0. As soon as our order was executed, we continued to watch price action closely, and after seeing it begin to slow down, we quickly made an executive decision to move our stop loss up to our entry price in order to conserve profits and limit losses. This proved to be a smart decision because the market soon pulled back on us, and we were still able to close out at a small profit of +1 tick, for a total of +4 ticks ($40).

Our third trade of the morning came after the U.S Equities market opened, on the Gold futures market (Symbol GC). The Gold market continued its rally today from last week, once again making new all time highs during the Asian trading session. As Gold continued its rally into the U.S trading session we waited patiently for a set-up to occur in the market that we could take advantage of (Gold Futures Day Trading Video). We saw this set-up at 10:05am EST and reacted rather quickly to gain an acceptable entry price. With our 2-step pattern giving us an entry signal, we entered the market long at 1171.8. The market continued to rally, and as more buyers entered the market with us, it allowed us to take some profits at two of our targets, for yet another profitable trade, for +4 ticks (2 contracts) and +1 tick (2 contracts) for a total of +10 ticks ($100).

The fourth trade of the morning came on the Mini-Russell yet again. The mini-Russell had been rallying for most of the morning, but we could tell, based off our technical indicators, that the sellers could quickly gain control of the market soon. With the buy orders on the tape slowly decreasing, and more and more sellers coming into the market, we looked to identify a possible short trade to take. After the market began consolidating around its highs of the day, we knew anything could happen, but also realized that the probability was in the sellers favor (Sideways Market Day Trading Futures). At 11:16am EST we were able to capitalize on more sellers entering the market by using our Breaker short pattern to enter the market at 597.5. Once our order had been executed, volume began to increase to the short side, and the market began selling off rather quickly, allowing us to scale out of our trade at all three of our profit targets; giving us profits of +4 ticks (2 contracts), +8 ticks and +5 ticks for a total of +21 ticks ($210).

The fifth and final trade of the morning came at 11:58am EST, just prior to the U.S lunch hours. Price action, surprisingly, showed us a good level of volume, and so we continued to look for possible trade set-ups. The Crude Oil market rallied for the better part of the morning, but the buyers eventually began to take profits, and as price began selling off, more sellers jumped in the market to push price further down. After seeing this continued sell off in price, we decided to enter the market for one last trade, to the short side, with a Breaker pattern. Our price pattern gave us a range of possible entry prices, and we were filled in the market at 78.95 (Price Patterns Technical Analysis Futures Video). As our order was filled, selling pressure continued and the market sold off quickly, giving us the opportunity to close our trade after taking profits at all three of our targets, at +4 ticks (2 contracts), +8 ticks and +4 ticks for a total of +20 ticks on our last trade ($200).