Buy Lows on Sideways Markets Gold Futures For 99 ticks of Profit

We finished off another great week in our live trade room today with another 99 ticks of profit.

We always love making money in the room, but the BEST part about today was that our members were able to use a simple technique trading sideways markets to make lots of profits in the markets we trade.

830am EST

– Gold futures did exactly what we expected, it tested the high of its trading range, and then dropped right back down into the center of the range

o Slow timeframe chart shows a wide sideways trading range (bracket)
o We’ve just broken below 1200, so expect a bumpy ride
o Fast timeframe trading in the middle of its new sideways range

 We took our first trade of the day by selling the HIGH of this range for a nice 17-tick winner.

– Crude Oil Futures are trading sideways @ 76.50, which has been a thorn in our side for weeks now

o Big round numbers are important, 76.00, but half numbers like 76.50 sometimes can be a sae haven for low volume markets, so they become very sloppy price levels.

 We don’t ALWAYS watch for these half levels, we only pay attention when we notice consolidation around these levels.

o Slow timeframe shows a wide sideways trading range, and we are sitting on the big round number of 76.00 so we will wait to get a little further away from this level.
o Fast timeframe chart

1000am EST

– Russell Futures are tumbling after breaking their support trend line from yesterday

o We notice on the slow timeframe when we apply our fibonnaci tool that we are now at the top of the trigger zone, which means we expect price to 15.7, which is the bottom of this zone.
o Lets look at the FAST timeframe for a good entry short.

– All of our markets appear to be a little challenging at this point in the morning

o We saw some nice moves down, and we made some money on the way down
o But now we sit on the lows and we’re seeing some challenging price action
o So lets look at some slower timeframes and plan our attack!

1100am EST

– Here we are, OPEX Friday, Summertime Friday, and we’re having a great day!
– Russell futures are not triggering for us because we don’t see enough big money in the market
– Gold is trying to break overhead resistance and head back to the upside after its steep drop today

– Crude oil chopping around 76.00 and slowly moving up
– Euro futures are chopping around sideways all morning.

Follow the LINK below for a list of trades that we called in our live trade room this morning.
 
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