April 20, 2012
- in Uncategorized by schooloftrade
185 ticks fake-out breakout day trading strategy E-Mini-Russell & Crude Oil Futures
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This morning we traded the E-Mini-Russell and Crude Oil futures earning over 188 ticks of profit using a simple trading strategy that anticipates a fake-out breakout at the highs or lows of a trading range. The dollar index correlation was especially helpful today when it failed to break out of a price wedge and tumbled off its highs.
The first clue we got today was from the dollar index, which was trading in a narrow price wedge and had just broken the highs of the price wedge at 800am EST. A price wedge is one of the easiest price structure to predict fake-out breakouts because of the market personality so when the dollar index sets up at the highs or the lows of any price wedge we’re looking for some great trading opportunities.
The second clue we got came from Crude Oil futures…Click here to read the COMPLETE
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