August 17, 2010

Looking To Sell The Highs On Aussie Futures

Aussie Futures:

We have the highs of the day being tested, so im looking to sell the highs below 8980 for my entry, with profit targets of 8970 (1/2), 8950 (1/4), and then look to read tape at the big round number of 8900 and if we see size and speed on the sell side, lets hold this trade all the way down to the bottom of this trading range at 8866 (1/4)

Crude Oil Futures:

We couldn’t find a way to trade short at the highs of the wedge pattern on our 13-range on crude oil, so we’ve been waiting for crude oil to break the highs and we can buy that breakout above 76.33

The key is, we need to break above the WEDGE, and then alos break above overhead resistance, getting long above 33’s

Profit targets will be 55 (1/2), 70 (1/4),and then manage the runner up to the next double-top (yellow line) 77.23, and ill take profit a little ahead of that level around 77.19 (1/4)
 

    schooloftrade

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