+175t Buying the Lows Euro Currency Futures

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Our day trading strategy this morning began with three simple clues,
helping us earn over 175 ticks of profit; 
first, we had news at 8:15am EST that all of us were waiting for.  If you recall, last
week’s Jobless Claims came out much lower than expected, but the markets
shrugged it off because of concerns that real jobs weren’t being added, so this
morning we had high hopes that this early-morning news would get things
moving.  Second, the dollar index was
trading in a bullish price channel and we saw from Tuesday’s
price action that we may be sloppy and sideways trading at the PHOD so we
had to be patient.  The third clue we saw
was from Crude Oil and the euro.  Crude
Oil was trading in a price wedge structure, and the euro trading at the lows of
a bull price channel.

The dollar index this morning was our biggest
challenge.  We had a strong up-trend
early in the Euro-session which sent the futures lower, almost to the lows on
Crude Oil and testing the price channel lows on euro.  We knew from previously this week that the
dollar index may slop around if we didn’t see any market personality and since
it was SO quiet earlier this morning we knew right away we had to wait.  It wasn’t until the dollar index dropped off
the PHOD (after sitting there for 2 hours) when we had the opportunities we
needed to earn our profit today.

The euro and Crude Oil markets were easy to anticipate this
morning and our day trading strategy provided us with some very simple trading
opportunities.  First, we had sloppy
market personality until after 930am EST so we had to wait.  We had Crude Oil at the lows of the price
wedge, so we were looking to buy.  We had
euro at the lows of the price channel and we were looking to buy there as
well.  The only obstacle this morning was
the dollar index kept trying to push higher, dragging down the price on Crude
Oil and euro, and we simply could not sell at the lows.  So we spent the first two hours this morning
waiting for the dollar index to drop off the highs, and allowing us to buy the
lows of the ranges we were trading in. 
By 1030am EST we had our opportunities and we earned over 175 ticks of
profit in less than 60 minutes of trading.

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action in today’s live trade room? 
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Don’t miss tomorrow @
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started again for another profitable day of live trading with our members!

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