October 5, 2011
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Confident in your trade plan? Gold futures tested patience today still hit our goal
Mini-Russell Futures trading at the highs of the previous day’s trading range, just above the PHOD. If we fail above the PHOD we want to sell this price down to the price wedge lows. If we keep moving higher above the PHOD we then look to buy a pullback. Final target for the pullback will […]
Continue reading October 5, 2011
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Trade the News Market Internals Update at 12:00ET
***Economic Data*** – (PD) Poland Central Bank leave Base Rate unchanged from 4.50% level; as expected – (US) MBA Mortgage Applications w/e Sept 30th: -4.3% v 9.3% prior – (US) Sept Challenger Job Cuts: 115.7K v 51.1K prior; Y/Y: 211.5% v 47.0% prior – (CL) Chile Aug Economic Activity Y/Y: 4.6% v 4.8%e – (US) […]
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Price Structures gives me the clues I need to find the Best Trades
Price Structure: The way the candlesticks line up to give us clues for what the market personality will look like ahead of time. Using trend lines, I draw price channels, sideways range, and price wedges. These are the most common ‘structure’ with trend lines. I also use the PHOD and PLOD to find the Inside […]
Continue reading October 5, 2011
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Day Traders prep for employment numbers and crude oil inventories
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— – Crude oil futures very sloppy this morning, trading in a price wedge and inside day with sideways trading range. We are 2/3’s of the way to the PHOD and its having trouble. Sell the PHOD as resistance, and if we move higher buying pullback […]
Continue reading October 4, 2011
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Don’t just sit there…short this! Day trading Crude Oil, Mini-Russell & Euro futures
We begin our day this morning with Gold futures in the middle of its range, crude oil futures trading outside the range, and the euro currency futures trading outside. We will skip gold futures for the time being until it moves to the highs or lows, and focus our attention on the markets which have […]
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Euro currency futures gives us an easy price reversal off major support
Hi Guys, I took this trade with you all in our live trade room this morning on a much faster timeframe, but wanted to use this example as an excellent way to use multiple timeframes along with simple patterns and trade management to make some great profit on the Euro Currency Futures contract. First, we […]
Continue reading October 4, 2011
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Trade the News Market Internals Update at 14:00ET
Dow -101 S&P -3.5 NASDAQ +21 ***Economic Data*** – (US) ICSC/GS weekly chain store sales w/e Oct 1st: +0.1% w/w; +3.7% y/y – (BR) Brazil Aug Industrial Production M/M: -0.2% v -0.1%e; Y/Y: 1.8% v 2.2%e – (RU) Russia Sept Consumer Prices M/M: 0.0% v -0.1%e v -0.2% prior; Y/Y: 7.2% v 7.2%e; CPI YTD: […]
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European banks under stress & Feds Bernanke in the Hot Seat before Joint Economic Committee
————————————————————————————— The James’ Report: Professional Resources for Professional Traders ————————————————————————————— – Crude oil futures trading at the PLOD in what we call an outside day transition. Below 75.92 we sell retracements, above 75.92 we’re buying up to 77.00 easily. – Gold futures failed to break the PHOD earlier this morning and dropped back into Monday’s […]
Continue reading October 3, 2011
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Buy the Lows and Sell the Highs day trading Crude Oil and Mini-Russell futures
Today is a Monday, new week, new month, new quarter, and our plan of attack is simple; get back into the routine that made us successful last week, month, quarter. My job today is to get back into my routine, because my routine will build my confidence, allow me to stay patient, and with that […]
Continue reading October 3, 2011
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Exit Strategies Lesson Up-Date for Members
Hi Guys, Thanks for another great training session this afternoon! We focused on Exit Strategies, and as of right now we have the NOTES posted in the download section, and the video will be uploaded to the Advanced Course section in a few hours time. The title of the Notes, same as the title of […]
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