10:30 Reversal Confirms Buying Opportunity for Russell

815am EST

– Dollar index futures are trading flat and sideways after a move to the upside failed earlier today.

– While the dollar is sideways we set the highs and lows with price alert indicators to make sure we are aware of the market when it breaks out.

– The dollar sideways = everything else sideways, so we are anxious to see the highs and lows tested.

830am EST

– The Euro currency futures are trading sideways at the highs from earlier this month

– We defined our sideways trading range and we have plenty of trading opportunities buying the lows and selling the highs of this sideways range.

– Remember to avoid the middle of this range for the slower timeframe traders. The middle area around 1.3445 will be best used by short term traders, day traders and scalpers.

– We open our 13-range chart on the euro and we see an easy sideways range with plenty of opportunity to buy and sell

o Sell the highs of 89 and 3500
o Buy the lows of 3405 and 77
o Avoid the middle for higher risk trades

900am EST

– The crude oil futures are trading in a narrow sideways trading range from 76.00 down 75.53

– Our slower timeframe 34 range chart shows plenty of opportunity buying the lows and selling the highs of this range

o If price rises im looking to sell the highs of 76.57, 77.17, and if we breakout above I will buy above 77.26

o If price falls I can buy the the lows of 75.53, 76.07, and I will sell the breakout below 75.53 with a first target of 36-40 and a final target of the trend line around 75.00

1020am EST

– The e-mini Russell is at the lows of the bullish channel, so we’re looking to buy the lows.
– Entry long will need to be > 59.4 which is our trigger line on the 34 range chart as resistance.
– Once we clear 59.4 area we have plenty of room to the long side for this trade to work out well.
– Entry long > 59.5 with targets of 60.5, 61.5, and then the Prev LOD at 63.3

1035am EST

– We have the gold futures at the highs of the day again, so we have 2 options

o Buy the highs above 08.8 but this will be higher risk

o The better option will be to sell these highs below 1305.6 with targets of 2.9, 2.0, and then down to the top of the wedge at 98.5 for the final target.

1055am EST

– The crude oil futures have defined a sideways trading range from 76.57 down to 75.53

– Im looking to buy the breakout entry long above 76.62 with targets of 75, 95, and all the way to the top of 77.12

– I cant see a good entry short because the middle of the range will be too dangerous

– I can wait to buy the lows of this range if we cant break the highs, looking to buy above the lows 75.52

Russell futures

– We bought the lows of the Russell at 59.4 for a nice big winner filling all of our profit targets and flattening at 63.0

– Now we see the Russell looking to continue this move, and we are ready to enter long above 65.4 with targets of 66.5, 67.7, and then all the way up to the highs of 70.2 for the final target

1100am EST

– The personality of the market has changed drastically after 11am EST

– We had lots of movement and strong speed of the tape before 11am, now that is gone and the markets look like they are getting ready to fall asleep

– This is a good time to move to your demo account if you hit your daily goal

– The euro futures are trading sideways at the highs of the channel, so we should look for the reversal pattern for a short entry.

– The key is we need to get below the trigger line (yellow) before we get short.

– Entry can be below 36, but needs to be below the trigger line, whichever is higher.

Profit targets will be 20, 14, and then all the way down to the trend line support at 93 for the final target