April 24, 2012
- in Uncategorized by schooloftrade
+150 ticks using AB=CD Pattern Strategy
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This morning we earned over 150 ticks of profit using a very simple day trading strategy with the AB=CD Pattern and the dollar index correlation. This morning was the start of the FOMC Meetings, a 2-day meeting where tomorrow we will hear from the Federal Reserve regarding any changes to monetary policy here in the Unites States. We knew this morning that we had to get in early, make our money early, because the price action would slow down quickly ahead of tomorrow’s FOMC report.
The dollar index gave us a great clue this morning, and we used this all morning as our guide through some challenging markets. The dollar index told us to buy pullbacks as the high-percentage trades this morning after we reviewed the heat map on our blog at 730am EST today.
With the dollar index falling, and looking for buying opportunities we saw Crude Oil breakout of its trading range, and when the sellers failed to drag price back down, the buyers took price higher and we were ready to execute our trading plan as we had projected earlier in the day. New higher-highs and buying pullbacks earned us +75 ticks of profit before 10am EST this morning which made our job very easy.
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Live Trade Room Review
Prepare for tomorrow’s Live Trade Room with these Charts:
Crude Oil Futures
Gold futures
E-Mini-Russell
Futures
Futures
Euro Currency
Futures
Futures
