May 16, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – 11:00 (EU) Euro-Area Finance Ministers meet in Brussels – 11:00 (US) Fed to purchase $1-2B in TIPS – 11:30 (US) Treasury to sell $27B in 3-Month and $24B in 6-month Bills – 12:45 (CA) Bank of Canada Governor Carney speaks in Ottawa – 14:05 (CA) Bank of Canada Governor Carney Press Conference […]
Continue reading May 16, 2011
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Broken Price Channels are great trading opportunities, here’s why
– Why keep a broken channel on the chart? o Do we care the # of touches for a channel? o Why not add a new trend line? – Entries for the Fast Track Method o We use LIMIT orders for the Fast Track o Prepare for the trade ahead of time, so you don’t […]
Continue reading May 16, 2011
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Narrow Price Ranges on Gold and Crude to Open our Week of Day Trading
“When we have practiced good actions a while, they become easy; when they are easy, we take pleasure in them; when they please us, we do them frequently; and then, by frequency of act, they grow into a habit.” We open our week this morning with not much news over the weekend. President Obama extended […]
Continue reading May 13, 2011
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Price Magnets on Crude make easy Profit Targets
We have lots of 830am news, and we also see CAD news at 830am as well. We expect CAD news to have a larger impact on crude oil b/c of exports in Canada. – We are below the PHOD and PLOD, makes this an outside trading day – This tells us to look to sell […]
Continue reading May 13, 2011
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Trade the News Market Update
***Looking Ahead*** – 15:00 (AR) Argentina Apr Consumer Price Index M/M: 0.8%e v 0.8% prior; Y/Y: 9.6%e v 9.7% prior – 15:00 (AR) Argentina Apr Wholesale Price Index M/M: No est v 0.9% prior; Y/Y: No est v 12.9% prior – (CO) Colombia Monetary Policy Meeting Minutes 10:31 AM Market Internals update at 10:30ET – […]
Continue reading May 13, 2011
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I don’t use Volume…I prefer to use SPEED in my day trading
– Speed and how we use it – I wanted to know what was happening RIGHT NOW, not 5 minutes from now, or 5 minutes ago…..RIGHT NOW. – Speed at the Open • Speed at the Close • Speed of the Time & Sales Window • Speed of the Patterns Developing on your chart (how quickly does the […]
Continue reading May 12, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – (PE) Peru Central Bank Interest Rate Decision: Expected to raise the Reference Rate by 25bps to 4.25% – 13:00 (US) Treasury to sell $16B in 30-Year Bonds – 18:00 (CL) Chile Central Bank Interest Rate Decision: Expected to raise the Nominal Overnight Rate Target by 25bps to 4.75% 10:30 AM Market Internals […]
Continue reading May 12, 2011
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Three Phases Day Trading Crude Oil Inventories on Wednesdays
– 3 personalities on Wednesday Crude Oil o Wednesdays bring 1030am inventory news o We have 3 basic phases that CL goes through § Before the News: 745-1000 § During the News: 1000-1035 § After the News: 1035-1230pm EST – – When do we use the FAILURE of a pattern? – Candlestick Patterns Global Drawing […]
Continue reading May 12, 2011
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Day Trading Morning Prep Gold, Crude Oil, Dollar Index, Euro, E-mini Russell Futures
‘We are what we repeatedly do. Excellence, therefore, is not an act, but a habit’ – Aristotle Live Trade Room is open, come join us! Click here for helping logging into the Trade Room Let’s begin our morning routine with the economic news for today’s trading session. 8:20 Gold & Currencies OPEN 8:30 Producer Price […]
Continue reading May 11, 2011
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Profit from easy CLUES from Crude Oil this morning
We review the crude oil 89 range chart to start our day with the most important information We see the the CL 06-11 is trading right on top of the 89 BMT, which means this area TODAY may be sloppier than normal. We also have 1030am crude oil news, so this may be the reason […]
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