June 29, 2010
- in Uncategorized by schooloftrade
Aussie dollar is moving right now, day trading opportunities
Hi guys, hope you all had a great trading day today!
Lets recap our trade call from earlier today.
our Gold futures trade hasnt triggered yet, we are still waiting for our trigger above 42.1 for a 2-step pattern long.
The Gold trade looks very promising, you can see how this market has gone sideways and created a nice opportunity for us to buy this break to the upside, but we have to wait for it…
our aussie dollar trade triggered and took our first target for a quick 20 ticks of profit. $200usd on 4 contracts is pretty good for about 10 minutes of trading.
we want to grab a little more profit on this move because it looks like we have the sellers still in control, looking to break new swing lows on the chart below..
We have another entry setting up to the short side right now…
im looking for entry short below 8613 for a breaker short entry on this trade with a target of 8605 to complete this move that began earlier today.
We already took 20 ticks of profit, lets try and add another 20 to make it a great trade!
im also watching the Euro futures contract for a reversal off the lows
im looking for an entry above 2300, however, we may have the opportunity for an entry a little closer to the previous low of day around 2260.
I would love to get this entry long at around 2280, look to take profit at 2295, and 2320, but that may not set up tonight.
as of right now I need to look my entry at 2305, taking half of the position off at 2320, and a quarter off at 2351, and then manage your runner up to 2377 which is the open of the day from yesturday.
ill keep you posted on this trade as it develops.
members, remember to follow the entry rules for this 2-step entry pattern long on the euro futures, and send your questions if you have them.
I look forward to review these trades and the others we take each day in our training on wednesday @ 1130am EST.
also rememer this is a short week, so lets get our money and get on vacation, so look for opportunities EARLY this week with the thought of slowing volume later in the week.
ill see you in the trade room tomorrow!
