Record-breaking Profit Day Trading Russell, Gold, Crude Oil and More

Auto trader ES / Russell / Euro / Gold (click for review today’s trades)

Trade Prep before Lunch (all markets)

Gold futures trades this afternoon

We made more money after LUNCH today than in the entire US Session.  Great work everyone taking those trades we prepped for BEFORE lunch!

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We have contract rollover on crude oil futures this morning to the new 12-11 contract.

Crude oil futures roll forward monthly, and we’ve learned over the years that around the 17th of the month is when this usually occurs.

We prepared for the 830am news with our morning routine.

Gold futures traded lower when the dollar index made new higher-highs but now the dollar index is not moving higher and the gold futures is getting sloppy.

We need to be patient and wait for the best market personality, and now is not the time.

PPI News comes out HIGHER than expected, which should be dollar index bearish and gold bullish so look to buy the new higher-highs with strong buyers on the tape on gold futures and euro currency futures.

Dollar index makes new higher-highs and the markets fall off their recent swing highs.

It’s been hard to get confidence this morning without any market personality.

The dollar index seems to be sloppy so far, which is causing the rest of the markets to be sloppy as well.

We assume traders are sitting on hands this morning (low volume) waiting for Ben Bernanke.

Well, so much for a tough day, we grabbed our biggest winning trade of the day just after 10am news.

We want to buy the ‘reversal-zone’ and hold this position up to the PLOD as initial target.

We’ve had a challenging day today, not much consistency and overall low volume which started with the dollar index and made all the other markets slow as well.

The good news is that we did get small windows of decent moves, for 15 minutes at a time we were able to make some great money.

Our secret today was to follow the initial plan we put forth earlier this morning, and not getting frustrated and trade AGAINST the market.

Mini-Russell Futures will look to buy the lows of the price wedge above the 700.00 level or we will sell below 96.8.  This will complete the mission we designed earlier this morning.

Gold futures trading inside the reversal zone so if we make new higher-highs we buy pullback, with new lower-lows we sell retracement.  Above the zone we get long above 1651.0 with the final target of PLOD 1665.4.  Below the zone we get short below 1642.5 and final target is 1629.0 just above that major support on the 89r.

Euro currency futures we are below the reversal zone found from the price channel break structure so we are looking for the dollar index to make new higher-highs which will give us the short position on the Euro below 3645.  Sell down to the major support at 3573 take some profit and then try and hold this down to the trend line support inside the ‘trigger zone’ at 1.3500 area.  If price rises from where we are currently I am buying once we make it above the PLOD, and I will hold that long position up to the PHOD where I will take profit and then sell the PHOD as resistance.  If we break above the PHOD I will be careful trying to buy until I get above the 3925 resistance overhead.  Look for the fake-out breakout above the PHOD and look to sell the failure if the buyers can’t push it higher, sell below the PHOD.