February 24, 2012
- in Uncategorized by schooloftrade
Failure Patterns Day Trading Strategy
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Everyone loves transparency, My trading statements are available
on request
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We were expecting a great day today and that is exactly what
we got! Our day trading strategy this
morning used the 830am EST jobless claims news along with key levels of support
and resistance on the dollar index, advanced price-structures on crude oil and
euro currency futures to help us earn over 100 ticks of profit with only 3
trades taken.
we got! Our day trading strategy this
morning used the 830am EST jobless claims news along with key levels of support
and resistance on the dollar index, advanced price-structures on crude oil and
euro currency futures to help us earn over 100 ticks of profit with only 3
trades taken.
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| Live Trades Called Today in the Room |
We began this morning with news that started the day off
with some volume and volatility when jobless claims came out much lower than
expected, and we began looking for our first trade of the morning shortly
afterwards. The dollar index was trading
just above a major support level (we call them turning points) and when the
price on the dollar index started rising off support we had the perfect set-up
for selling on crude oil.
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| Dollar Index Trading Strategy |
Our day trading strategy for crude oil was simple this
morning, using the PHOD and PLOD and a sideways trading range. We did our homework this morning knowing that
we had additional resistance above us around 107.00 so we were NOT looking to
buy the breakout, we excepted a fake-out breakout so we were looking to sell
the failure, which we did for 45 ticks of profit to start the day with a bang!
morning, using the PHOD and PLOD and a sideways trading range. We did our homework this morning knowing that
we had additional resistance above us around 107.00 so we were NOT looking to
buy the breakout, we excepted a fake-out breakout so we were looking to sell
the failure, which we did for 45 ticks of profit to start the day with a bang!
 |
| Crude Oil Day Trading Strategy |
Our day trading strategy on the euro was also very simple,
and was very similar to the strategy we used on Wednesday selling the highs of
the price wedge. We watched as the euro
broke above 1.3325 and then failed coming right back down, we sold short when
the 21-Range wave pattern failed. The sellers
didn’t last long though, only giving us 50% of the move off the highs we were
expecting, so we quickly took the wave LONG on the 34 range chart to make some
more easy cash when the dollar index fell off its resistance overhead.
and was very similar to the strategy we used on Wednesday selling the highs of
the price wedge. We watched as the euro
broke above 1.3325 and then failed coming right back down, we sold short when
the 21-Range wave pattern failed. The sellers
didn’t last long though, only giving us 50% of the move off the highs we were
expecting, so we quickly took the wave LONG on the 34 range chart to make some
more easy cash when the dollar index fell off its resistance overhead.
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| Euro Wave Long Called LIVE |
Did you miss the
action in today’s live trade room?
Want to learn how to trade like this with me every day? Our advanced members have lifetime access to
our trade room, and membership includes everything you need, including charts,
data, indicators, tech support, and automated
trading strategies.
action in today’s live trade room?
Want to learn how to trade like this with me every day? Our advanced members have lifetime access to
our trade room, and membership includes everything you need, including charts,
data, indicators, tech support, and automated
trading strategies.
Don’t miss tomorrow @
730am EST when we post our morning prep on this blog and get the day started
again for another profitable day of live trading with our members!
730am EST when we post our morning prep on this blog and get the day started
again for another profitable day of live trading with our members!
