July 24, 2012

Tape Reading & Pace of Tape helped earn +100ticks today

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This morning we began our trading with a very simple day trading strategy which earned over 100-ticks of easy profits today.  We had Crude Oil sitting at support early in the session, and we have lots of news to keep us busy so we had to be ready.  
The euro currency and gold futures continued to trade sideways, and the E-Mini-Russell wasn’t much better.  This is typical for the last week of the month in the summer, so we anticipated price action to be slow, and we were ready to capitalize on it when our high-percentage trades showed up on our charts.
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