Day Trading Strategy ahead of State of Union Address & FOMC Day
We opened our live trade room at 730am EST this morning with a few big concerns about volume and we got pretty much exactly what we expected. Our day trading strategy requires us to be aware of the news each morning, so we began there.
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| Trades called Live Today |
We knew this evening we had Obama’s State of the Union Address, as well as the beginning of the 2-day FOMC Meeting, which will culminate in tomorrow’s FOMC Announcement at 12:30pm EST. Either way you slice it, there were two big reasons why major fund managers and your average day trader may be looking for excuses to sit on the sidelines. One thing we know as traders is that when the rest of the markets are on the sidelines we need to do the same, and today we assumed it would be much of the same slop and chop from monday.
We definately werent as low volume as monday morning, and with the few windows of opportunity this morning we certainly made some great trades, starting with just after 900am EST.
The Dollar index trading strategy was the first clue we saw. The dollar index was trading in a bear price channel and when it violated the highs of that channel, we call it a ‘turning point’, we knew to look for entries to the short side. We earned almost 100 ticks of profit before 10am using that simple trading strategy.
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| Dollar Index Trading Strategy |
Now the challenge late in the morning was not giving this profit back as the markets slowed down after 10am news was released and we saw the market’s personality change. We finished up another great day with our members after 1130am EST and had another day of profitable trading.
Did you miss today’s live trade room? Join me every morning at 730am est when we open our live trade room and begin our analysis of our favorite futures markets in REAL TIME with trades called live according to our simple methodology that works on any market, timeframe, or asset-class.
Remember THIS trade called live in our trade room this morning? How’d it do?
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| Euro Day Trading Strategy |
