Euro & Crude Oil futures trading at the top of their ranges, here’s the day trade im watching
Hi guys,
wow, what an exciting day, sorry this post is coming so late this evening, we had quite the exciting and profitable day today.
congats to everyone who made money with us in the trade room today, and we have been managing our trades from this afternoon and watching patterns setting up as we speak!
lets get right to the chase, ive got the euro futures contract that has tested the highs of today’s tradinig range with a nice double-top.
this price pattern gives me 2 opportunities to make profit.
If price can continue above 2740, im looking to buy the euro and take my profit at 2790 for a nice easy 50 ticks.
the reason for this profit target is because of an overhead trend line @ 2800 on the 34 range chart.
the better trade im looking for is the short entry below 2693 because we’ve already seen the highs tested without success, and the recent sideways markets have made for some very profitable reversal patterns like this 2-step pattern our members use in our live trade room.
my entry will be short below 2693, looking to take 1/2 of my profit @ 2675, then look for 1/4 off at 2655 and 2625 to cover my short.
im also seeing crude oil futures in a great location for a very similar combination opportunity for day trading futures…
lets take a closer look at this 21-range ninja trader chart of crude oil futures…
Very similar to the euro pattern, im looking for a long entry above 76.37, and look to take 1/2 off @ 7795 and then a final 1/2 to flatten my position @ 7725 just below our major level of overhead resistance.
the better traade i feel is the short below 76.64, looking for 1/2 my profit at a target of 76.50, another 1/4 off at 76.20 due to a trend line as support, and the cover my short day trade 76.05 above the big round number.
these are both great day trading opportunities, and i will review them both in our live trade room tomorrow!
im always here to answer questions, and your feedback is always encouraged 🙂
