May 6, 2010
- in Uncategorized by schooloftrade
Easy Money Trade; Euro Futures and the DX Pattern
Today’s Easy Money Trade is on the Euro and we I used the DX Pattern Long for this trade.
This is a really easy pattern to learn, and even easier to execute, so lets take a look.
I noticed that the Euro futures had lots of overhead support around 1.2752. Specifically, it was a trend line that had been drawn from the highs of my 13-range chart.
We also had to worry about the Trigger Line on the 13-Range as well, it was in the SAME PLACE as the trend line.
With that said…this wasnt all that bad…remember…
Overhead resistance will become support below when its broken, so I knew that once we broke the 1.2752 level, seeing lots of BIG MONEY when it broke that level, that I could get in long and use those levels as support for my trade.
I was correct 🙂
We saw the Dollar Index break its key level of support, and then at the same time, the Euro futures broke its resistance and I got long from 1.2756.
At this point the market had begun to move a little faster than it had previously, and with lots of BIG MONEY buyers on the Euro tape, we knew we had a winner!
2 minutes later i filled my profit target of +10ticks and with 4 contracts, that earned me 40 ticks or $500 b/c the Euro moves at 12.50 per tick, just like the e-mini ES.
So I spent 10 minutes looking for the pattern, 2 minutes in the trade, and the rest of the day I can go play golf!
4 contracts only requires $2,000usd, and I made $500usd off this SINGLE trade!
Do you only have 1 contract? You still made a 10% return with a $100usd profit!
You dont need money, time or experience to learn this stuff, and I’ll teach you live, in real time in our trade room.
See you tomorrow in the room!
JJ
