May 14, 2010

Day Trade Futures Contracts, Euro and Aussie Set-Ups

We had a nice 20-tick winner on last night’s trade call

1-contract earned $200usd on a very easy-to-learn pattern.

Thanks to Marco and Brad for sharing their trades with us today, keep up the great work!
Last night’s level was only 1 of the many opportunities we saw last night on this pattern.
Let’s prep for tomorrow’s day trading futures contracts…
I’ll start with the Dollar Index

We can see the dollar index futures show support @ 84.406

I can also see that we have a LARGE gap down to 85.120

My entry trigger on the dollar will be 84.400, and my target will be 85.120.

Now lets look at the Euro…

We can see the Euro Futures has resistance up to 1.2546

also notice there is a gap up at least 40 ticks inside the trading range above.
Entry on the Euro will be above 1.2546, with a target of 1.2600
This technique can be used to day trade any futures contract.
Lets look at the Aussie Dollar Futures…
Notice we have resistance at 8944, with a gap up to 8980.
Our entry for the Aussie Dollar will be @ 8944, with a target @ 8980.
I look forward to reviewing these trades with you in the live trade room friday morning.
Advanced Members can find detailed information on these set-ups in the appropriate course materials.
Go Celtics! 🙂

    schooloftrade

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