February 28, 2012

Fade the breakouts with price wedges on euro and crude oil futures

Another day filled with profits in our live trade room, and this
morning’s
day trading strategy
focused on a lot of major news coming out this morning along with a very big
clue from the dollar index correlation which helped us earn 185 TICKS of
profit.

Joe’s Trades Today



dollar Index trading strategy
Our day trading strategy began with the knowledge that we had major
news being released at 830am and 1000am EST this morning so we expected to see
more action a lot earlier today.
  IN
addition to our news day trading strategy we also got some big clues on the
dollar index, specifically the dollar index price wedge price structure which
is always a big clue for us regarding market personality of the markets we
trade.

 



Crude Oil Day Trading Strategy
Our day trading strategy for crude oil was very similar
to that on Monday
, we had price trading inside the range from Monday,
and we saw another price wedge structure that gave us some very easy
clues.  Along with the clues from crude
oil we also had that market personality traits of a dollar index price wedge so
we knew exactly what to do and how to do it…just stay patient and fade those
breakouts!

 

Euro Day Trading Strategy

The euro currency futures gave
us our biggest trade of the day
this morning after we used our simple day
trading strategy to fade-the-breakouts when price moved below the price wedge
lows when the dollar index moved higher after the 1000am consumer confidence
news.  The price wedge on the euro was
very easy to find, and we followed the plan we outlined together with our members
at 730am EST. 

Did you miss the
action in today’s live trade room?
 
Want to learn how to trade like this with me every day?  Our advanced members have lifetime access to
our trade room, and membership includes everything you need, including charts,
data, indicators, tech support, and automated trading strategies.
Don’t miss tomorrow @
730am EST when we post our morning prep on this blog and get the day started
again for another profitable day of live trading with our members!

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    schooloftrade

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