day trading euro and crude oil futures trade room recap

We opened our live trade room this morning after a long weekend to see many of our favorite futures markets trading at their highs after news from china and germany had given the market sentiment a boost overnight.  our day trading strategy is very simple, we were trading crude oil, euro, russell and gold futures.

We quickly went through our morning routine and found some big clues for our trading strategy from the dollar index, and a failed wave pattern, which told us to look for price to come tumbling back down to the open where it began at 12am midnight 8 hours earlier.

First, the dollar index was sitting on support which told us we should see it rise, giving us selling opportunities on the crude oil and euro markets we were watching at 800am est.

Second, we saw that a recent wave pattern had failed to re-test the highs, and this was a clue telling us to expect the pattern to fail and come back off the highs.  We use a simple trading strategy that uses the range of prices from Monday and we could see this range was below us and BEGGING price to come back down into that range if it stalled at the highs.

Third, at 830am EST this morning we got what should have been bullish news from the Empire State Manufacturing Index, and when the markets reacted differently than what we expected this again told us to look for the markets to tumble.  Our trading strategy says that what ‘should’ happen gives us clues to consider when we see what DID happen, and we can trade the reaction.

Finally we got the entry trigger we needed, and our day trading strategy was executed with confidence.

Dont miss our live trade room tomorrow when we do this all over again @ 730am est.

And remember we launched our new automating trading blog this weekend, so make sure you check it out, join the newsletter, and join the site so you can get all the latest up-dates to our automated trading systems.