February 2, 2012
Day trading strategy for crude oil, Euro, Mini-Russell uses Jobless Claims News
Our day trading strategy began this morning with some big
clues from the markets we trade most, along with some important Jobless Claims news
to kick-start our trading. The most
important thing we saw this morning at 730am EST was the ‘transitional area’ on
crude oil.
clues from the markets we trade most, along with some important Jobless Claims news
to kick-start our trading. The most
important thing we saw this morning at 730am EST was the ‘transitional area’ on
crude oil.
We began the day with
a simple day trading strategy for crude oil futures. We had the previous low of day at 97.07 along
with some major resistance from the trigger lines on our 34-range chart. Price was trading right around this PLOD
which made us consider this market to be in a transitional area.
a simple day trading strategy for crude oil futures. We had the previous low of day at 97.07 along
with some major resistance from the trigger lines on our 34-range chart. Price was trading right around this PLOD
which made us consider this market to be in a transitional area.
With crude oil at the
PLOD we had three options for our day trading strategy. Price can move in three main directions; up,
down, and sideways. If price moved
sideways trading on top of the PLOD we knew we would have a mess on our hands
and we needed to sit on our hands if that occurred. We also know if price falls below the PLOD
the sellers are in charge and we want to sell retracements. And finally, if price moves higher above the
PLOD the sellers will have failed and therefore we will look to buy pullbacks
above PLOD with the goal of re-testing the PHOD all the way up around 99.50.
PLOD we had three options for our day trading strategy. Price can move in three main directions; up,
down, and sideways. If price moved
sideways trading on top of the PLOD we knew we would have a mess on our hands
and we needed to sit on our hands if that occurred. We also know if price falls below the PLOD
the sellers are in charge and we want to sell retracements. And finally, if price moves higher above the
PLOD the sellers will have failed and therefore we will look to buy pullbacks
above PLOD with the goal of re-testing the PHOD all the way up around 99.50.
Our day trading
strategy was right on the money with crude oil this morning. Price dropped below the PLOD and we sold two
successful retracements using our 34-range chart for over 100 ticks of
profit. An even more interesting
situation occurred when the buyers failed to push price above the PLOD twice
this morning, and both times we used that as a sign of failure so we could sell
it back down again.
Let’s not forget our
day trading strategy for the Euro futures;
we had a simple price wedge on the Euro which told us to sell those
highs! We had to wait patiently for the
trade to trigger, but as you can see from the chart posted below, our patience
really paid off! We got the entry
trigger off the highs on Euro futures and sold the price wedge highs, giving
everyone in our live trade room the opportunity to sell short right along with
me!
day trading strategy for the Euro futures;
we had a simple price wedge on the Euro which told us to sell those
highs! We had to wait patiently for the
trade to trigger, but as you can see from the chart posted below, our patience
really paid off! We got the entry
trigger off the highs on Euro futures and sold the price wedge highs, giving
everyone in our live trade room the opportunity to sell short right along with
me!
Did you miss the
action today? Did you miss the 3 winning
trades we called way ahead of time for 50 ticks each? Don’t miss the trading action tomorrow when
we re-open our live trade room at 730am EST.
and remember our morning prep is posted every morning at 730am EST as
well right here on our blog.
action today? Did you miss the 3 winning
trades we called way ahead of time for 50 ticks each? Don’t miss the trading action tomorrow when
we re-open our live trade room at 730am EST.
and remember our morning prep is posted every morning at 730am EST as
well right here on our blog.
Our automated trading systems are
making money EVERY DAY as well, let the computer do the trading for you!
making money EVERY DAY as well, let the computer do the trading for you!
