recap of last night’s day trade, and im watching euro futures setting up now..

Hi guys, we had another great day in our live trade room today, earning over 80 ticks of profit on 6 trades.

Im watching some active futures markets right now, but lets recap our trade from last night

if you missed it, click here to see the call on Aussie Futures

https://www.sidewaysmarkets.com//2010/06/23/aussie-dollar-futures-day-trade-setting/

entry was long above 8640, and I took half my position off at our first profit target of
8653.

after filling the first target, I move my stop loss to my entry point, plus 1 tick to protect my position, lock up profitsand remove all the risk.

now this is a free day trade, all i can do is profit from here forward.
with fomc day today, i took the challenge of holding this trade to its previous open @ 86.96,

but as you can see, i missed it by 10 ticks, and got stopped out at my entry.

i guess this is what you get when you get greedy, but we didnt have any clear target,
and if you look at the chart, we got to my final target after the FOMC announcement tore the charts up.

I simply got bounced out by the news…next time the market wont be so lucky 🙂

So we profited 26 ticks or $260usd on the trade with 4 contracts, not as much as
we were aiming for, but ill certainly take it.

lets take a look at whats setting up right now!
many of our favorite markets are trading sideways right now, appearing to be hung over from
fomc day today 🙂
The euro looks like a nice breakerpattern on the 60-minute chart, and heres why…

You can see ive used our trigger zone tool to mark the yellow box.

above this box he buyers are in control of the market, and im watching a very bullish move here on the euro

we will get an easy opportunity above this swing high of 2351

i will take my first target at 2365, move my stop to my entry

then ill look to take 1/4 off at my 2nd target of 2395, and then another 1/4 off at 2426 to test previous highs from last week.

this should be a fundamentally-sound trade, looking to move back into the trading range above us on the euro futures.

Ill be sure to review this trade here on the blog, and bring questions to the trade room tomorrow.

Follow those rules, see you in the morning!