August 19, 2010

50 Ticks Day Trading Sideways Markets Mini Russell Crude Oil Futures

845am EST

Crude Oil Futures:

– Trading sideways from 77.00 down to 74.28 so we know to sell the highs of 77.00 and buy the lows of 74.28 for the highest percentage opportunities.

Gold Futures:

– Trading at the highs on gold, we are looking to continue with those highs buying above 1238.7, and selling below 1234.4

– We see the fast timeframe trading sideways, so the scalps will be more challenging today, so looking for the 13range chart to make us money today

Mini Russell Futures:

– We can see the mini Russell trading in a sideways range, although we have already broken the wedge pattern on the 13-range chart.

– Our slow timeframe shows us this sideways market, so we look to sell short below 617.0 if we break below, or if we can’t break the lows of this range we will be buyers above 618.0

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