Trades Set-Up On Gold And Euro Futures

Gold Futures

Watching gold futures are one of the early movers this morning, and we’re looking for a long entry above 1240.3 as we break up off the lows of the wedge pattern.

This will be a little bit tight for our first profit target, so be sure to have your first target ready to get filled after your entry.

Entry long above 1240.3, with profit targets of 41.0 (1/2), 43.0 (1/4), and then if we can break the highs of the wedge at 1244 we can then try to get a little more profit out of this trade all the way up to the highs of the day at 1245

Gold Futures 13 Range

Euro Futures:

The Euro Futures are trading in almost-sideways, slightly bullish channel pattern

We are in the middle of the channel, so our best option will be to wait for the test of the lows, or the test of the highs.

Best opportunity looks to be to wait for the market to come down and test 1.2675, then look for a 2-step reversal pattern at the lows for an entry long above 1.2675.
 

Euro Futures 13 Range Up-Date

Russell Futures

The Russell is trading at the highs of the channel, so we have a selling opportunity with the 2-step reversal

Sell short below 611.4 with momentum confirming and profit targets of 608.0 (1/2), 606.5 (1/4), and then all the way down to the lows of the channel at 601.0 (1/4)

Russell Futures 13 Range

Russell Futures Up-Date

We didnt see the momentum indicator confirm on the first entry short on the russell, so we skip the first move, and now we ahve another entry selling opportunity below 609.9 with momentum now supporting our short.

Russell Futures 13 Range Up-Date

Crude Oil Futures:

Crude Oil is trading at the highs of the channel on our 13r so we want to get short below 74.22 with targetrs of 74.05, 73.80, and then down to the lows of 73.05 which is the bottom of the trading range.

We can also buy the lows of the range above us with entry long above 74.45, with targets of 62 (1/2), 95 (1/4), and then 75.45 are the highs of the day (1/4)
 
We also see resistance overhead at 74.55, so this will also be a perfect first profiot target or the LONG entry.
 

Crude Oil Futures Short