June 16, 2010
- in Uncategorized by schooloftrade
futures markets are on the move, lets look at some trading opportunities tonight..
Congrats to all our members that took advantage of some great trading opportunities today in our live trade room, lets look at whats setting up right now…
lets start with the dax, we have a 2-step short setting up and it just broke our trigger line, so our entry will be triggering soon…
i will look to see large sellers enter the market at 6208.0 to enter this trade, looking to take half my position off at 02.50, another 1/4 off at 94.0, and cover this short trade at 88.0.
This trade looks to be setting up nicely, the pattern looks great and we have plently of room to the downside here.
lets move to the E-Mini ES futures contract…
I need to wait for a swing low on this chart to enter this market with a 2-step pattern short.
We should see this market bouce off this pullback soon, and when it does, i will look for a short entry below the new swing low.
our chart templates will make sure your indicators identify this swinig low, so wait for the break and look to take 1/2 your short position off at 1103.00, and then 1/4 off at 1100.00 and cover your short at 1194.00.
this could easily become a VERY profitable trade because we have lots of room to drop.
lets take a look at the crude oil futures…
Ive used a slow timeframe on this market because we have 2 levels for our entry
Im going to look for 76.68 for my entry trigger on this 2-step short off the high of day.
I see lots of room to the downside, and I will take 1/2 my short position off at 76.34, looking to cover this short with the 2nd 1/2 of this trade @ 76.05.
As you can see, we have 60 ticks of potential per contract on this trade, so ill gladly take the more conservative entry below 76.68.
im going to wait to use this 2-step short pattern to enter below 2300 on the euro futures contract.
below 2300 iwill look to take 1/2 my position off at 2280, another 1/4 off at 2260, and then look to cover my short trade at 2215.
we have a lot of great opportunity in these futures markets right now!
Follow your rules, remove your emotions, and dont be afraid to take profit when you get it! 🙂
I will review these tomorrow in members-only training @ 1130am EST
