Hey, what’s up traders? Happy Thursday to you. Today was a pretty quiet day of trading for me. I tried to get short on one attempt in the light, sweet crude, and the order went unfilled as the market turned around and went higher, used a sell stop order to keep out of that trade and it wasn’t meant to be. Then I found a scalp trade in the gold and in just 12 minutes I grabbed $480. I’ll show you in the recap for today’s futures pulse. Enjoy it.
So just one trade today in the gold, the yellow metal on a breakdown trade scalp. I’m going to talk you through the trade here today so you have an idea of what we did. We ended up grabbing net 480 on the trade. I’m going show you how that came to life. Entry into the trade came in at 926 in a handful of seconds, Chicago time this morning, which I’m going to show you which bar that is. That’s this bar right here. See this one I circled. Entry point on this one here, we entered at 150720 which is right there. I’m going to draw that on the 10 minute chart, which is what we have here. And then over on the 30, I want you to see why we made that trade and the the bar we entered on as well, it was right here at the time of this recording, the bar once removed from the present here. And what the entry was, 15072 and that’s right on that green demand zone.
So as it was breaking, we hit the sell button, got filled right at that price. So 150720 was our initial entry on the trade. Our initial stop, our apocalypse prevention plan as I like to say, comes in at 151110. I put it up here, want to be up above that supply area so we have maximum protection up there. So $3 and 90 cents was our kind of worst case scenario of the market. Market went totally haywire just after getting in. We were going to get out at $3 and 90 cents higher. Now the market did break lower, okay? Market broke lower on this bar, okay? You can see in fact at one point it got down as low as, let me show you here, 150420 and again, watch us over here on this bar. We broke lower right there, and we will take profits on five to six units, a dollar lower.
Okay, so that was at that 150620 level. So a dollar and five units. Remember gold trades in dimes, each dime’s worth 10 bucks, a full dollar move is $100. Did that relatively quickly. It was only a handful of minutes. In fact, I’m looking at the exit timestamp here. It was about six minutes later. So six minutes later and $500, we grabbed at 0620 which is right here. So this is what we made. That little move right there. And then we got really aggressive on our trailing stops. So we moved our stop aggressively. If I zoom in a little bit more here, we took our stop which was up here at 1110, we moved down to 1010 and then all the way down to 0740 which is basically two ticks or 20 cents above our original entry point.
Remember we started this journey at 150720, so moving it down to 150740, 20 cents is a $20 give back. And that’s how we cut in $20 into that $500 closed out profit. So that’s how we ended up being net 480 and not bad, can’t really complain and we got stopped out. By the way, that was not that much later. It was a total of 12 minutes in the trade around that, on that final unit. And I’ve been looking at some other markets here today, just not finding a good entry point just yet. But there you can see at six by six 480 and that’s it. Going to keep it green here this week and looking to finish strong on Friday with a great week on our hands here today.
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