May 17, 2010

127 Ticks Live Today! $12,000 on 4 Contracts this month! Webinar tomorrow!

The Market Gives us clues today…

830am EST

– Dollar Index Futures are trading sideways off their highs from earlier this month

o Average true range is near its lows of the past two weeks

o Pace of tape indicator < 100, very slow, even for a Monday morning

– Euro still trading in a strong downtrend, but has flattened out at 1.2250

o Waiting to see if the euro will go sideways here, or if it will reverse off the lows and head back up.

o Average true range is at its lower levels

o Pace of tape on euro looks VERY slow, we’re used to seeing at least some green, but today its mostly red and yellow.

900am EST

– Gold Futures are trading sideways off their all time highs from last week

o Average true range is at the lower third its been in the past week

o Pace of tape on gold is < 100, which means we need to wait a little to see more speed in the market

o Highest percentage trade on Gold future will be below the 23.9

915am EST

– Crude Oil Futures trading off their lows of 70.00, and now trading sideways

o We identified the highest percentage trade opportunities to be above 72.25, or below the 70.92

1015am EST

– Crude Oil futures trading back into the sideways bracket, after an attempt to move lower, but there weren’t any sellers to be found

o Wait for the market to get back into this bracket, and be careful around the big round numbers!

– Gold Futures sluggishly moving to the up-side moving from one trend line to the next trend line

o Wait for the best times to trade: size and speed!

9 trades today, 8 Winners

+127 ticks, $1,305usd

Only 4 contracts needed to achieve this today!

See you tomorrow @ 745am EST for the live trade room session!

    schooloftrade

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